Marketing activities on the entry stage of new product to the market

Abstract

The number of commercial transactions in the digital segment, as well as the number of new products on the market, is growing from year to year. The intensification of innovation observed in the market indicates a reduction in the time of the release of a new product, which increases the supply in the market. However, a wide product range does not always allow companies to get their target audience, which leads to a decrease in the efficiency of the company and a reduction in sales. The intensification of the development of new products forces the manufacturer to improve marketing activities at the output stage. The article clarifies the concept of a new product through a terminological analysis of domestic and foreign sources. For a refined definition, marketing tools were identified at the stage of bringing the product to the market and existing marketing models that describe the diffusion of innovations. An attempt was made to combine the model of E. Rogers and F. Bass with the product life cycle model, which made it possible to draw conclusions regarding marketing activities and the tools used when launching a product in relation to the target audience of a new product. The article analyzed the definition of "new product" in the context of bringing a new product to the market. For a refined definition, conclusions were drawn and made regarding the strategies for entering the market and the marketing tools used in their withdrawal. Not only the strategy and consumer orientation are determined, but also the role of the consumer in bringing a new product to the market, taking into account the E. Rogers innovation diffusion model, the F. Bass model and the product life cycle model.