ROLE OF MARKETING IN THE FORMATION OF INNOVATIVE POTENTIAL OF HI-TECH COMPANIES IN THE VALUE CHAIN

Abstract

The article deals with formation of a company’s innovative potential in the value chain based on the marketing principles of cooperation and involvement. Using the concepts of ‘open innovations’, key competencies, as well as marketing of cooperation and involvement, including value co-creation, the authors show the need to develop closer cooperation between partners in the value chain. Marketing plays a key role in the development of relations with partners. It facilitates both the assessment of a company’s market potential and involvement of partners in all stages of an innovation cycle for the value co-creation. The paper presents the results of empirical studies on companies in the hi-tech sector, which show the difference between ‘organized’ and ‘spontaneous’ innovators. The main strong points of the ‘organized’ innovators consist in developed marketing competencies at all stages of the innovation cycle. The weak points of ‘spontaneous’ innovators are connected with ineffective marketing, which is caused by a lack of sufficient experience of market activities and availability of time-tested models and mechanisms for cooperation with partners and their involvement in the innovation process.