MARKETING FEATURES OF A STARTUP THROUGH ITS LIFECYCLE

Abstract

This article is devoted to the analysis of marketing features of IT companies, particularly startups. The field of developing innovative and digital products is evolving rapidly, and marketing tools in this industry are constantly being updated. Key stages and factors influencing the creation of a startup's marketing strategy have been identified. A description of the startup's lifecycle is provided, along with examples of successful launches of innovative products. Definitions of the terms MVP (minimum viable product) and pivot and their significance for a startup's marketing strategy are formulated. Development strategies for startups are proposed based on different stages of the lifecycle. Marketing startups have their own peculiarities compared to marketing for more stable and well-established companies. Startups often have limited budgets and resources, which requires marketers to adopt a more creative and efficient approach. The differences in startup marketing compared to traditional marketing include explaining the essence of the innovative idea to the target audience; conducting marketing research for an idea that may not yet exist in a tangible form; developing marketing strategies based on the industry-specific nature of the product or the presence of invested capital; utilizing marketing tools according to the stages of the startup's lifecycle. The uniqueness of the startup lifecycle lies in the need to focus on executing a development plan at each stage to attract funding from investors and ensure successful company growth. If consumers show little interest in the product, the startup must change its strategy, completely revamp the concept, and make a pivot. MVP is a product development strategy where developers create a minimum viable product that allows them to test the hypothesis of its market success and receive feedback from the target audience. The proposed marketing strategies for startups are divided into three conditional categories: independent operation with minimized influence on management, acceleration for scaling, and revival of a failed launch; incubation of the startup with significant authority in financial and marketing policies transferred to business mentors, agents, or incubators.