STUDY OF THE LAWS OF AN INNOVATIVE PRODUCT’S DEVELOPMENT

Abstract

The article considers trends in commercialization dynamics of an innovative product. The authors present a model based on the analysis of statistical data, reflecting the successive periods of the life cycle of an innovation’s development. The proposed model allows determining the current state of an innovative product and forecasting further development of its market, as well as choosing the tools to manage it in order to enhance efficiency of innovative companies’ development. Understanding the time frames and dynamics of the market, determined by the authors’ model, allows enhancing efficiency of managerial decisions and timely reorienting resources towards more prospective directions, which allows reducing expenditures and obtaining the maximal efficiency from the innovative project under implementation at every stage of the product’s life cycle.