Formation of marketing strategies for innovative products at separate stages of their life cycle
Authors:   National Technical University «Kharkiv Polytechnic Institute», Martynenko Alina , Pererva Petro ,   National Technical University «Kharkiv Polytechnic Institute»
Published: June 2021

The aim of the article. In the current market conditions, the main objectives of the product policy of the enterprise are to manage the competitiveness of products, adjusting their life cycles and assortment. For this purpose, the commodity strategy of the enterprise which is directed on achievement by the enterprise of target positions in the market by means of the products should be developed. The product is the subject of many management decisions: it is created, brought to market with the support of various marketing activities, if necessary modified and, if economically feasible, withdrawn from production. The aim of the article is to form marketing strategies for industrial products on the market on the basis of the developed classification of innovative goods depending on the level of their efficiency at separate stages of the product life cycle. Analyses results. The article develops the classification of innovative industrial products depending on the level of their efficiency at the separate stages of the product life cycle. The authors formed the recommended marketing strategies based on the proposed classification of products, depending on the range of levels of efficiency in which the product is. The article also presents the practical use of the developed recommendations on the example of the life cycle of the innovative electric motor of PJSC «Electromotor», which confirms their practical significance and suitability, allowing industrial enterprises to effectively manage their range. The article also builds a graph-analytical model of comprehensive efficiency indicators of an innovative electric motor, which allows to clearly track their dynamics over the entire period of its life cycle. Conclusions and directions for further research. In market conditions, each enterprise must determine the directions of formation and implementation of marketing product policy, taking into account the characteristics of each product. Forming a marketing product policy, the company must work on updating the range and bringing new products to market, because the right strategy for product range management will provide the desired volume of sales and corresponding profits. Thus, due to the proposed classification of goods at different stages of the life cycle, depending on the level of efficiency in which the product is or will be, the company can develop specific marketing strategies and tactics, including research and development (R&D), development of production, selection of sales channels, improvement of forms and methods of advertising, price regulation, development of new ones, modernization of existing and removal of obsolete inefficient products, etc. The use of effective marketing solutions can affect the duration and course of the product life cycle and consequently to achieve maximum profits. Keywords: efficiency, innovative product, product life cycle, marketing strategy, assortment management.