APPLICATION OF INNOVATIVE SOLUTIONS IN MARKETING – THE BASIS FOR GAINING A LEADING POSITION IN THE MARKET

Abstract

Due to increasing number of determinants such as growing market competition, harsh business climate, cyclical recession disturbances in market, different customers` lifestyles caused by velocity of change in the environment, contemporary business has been given the task to proactively manage long-term customer relations and compete for leading position in the market. Approach to planning and conducting marketing activities in which the value delivery to customers is primary goal and understanding the feedback is at the core of the future planning, results in necessity to use innovative solutions in companies` marketing performance. The importance of implementation of the innovations in all working processes in companies that want to be market leaders becomes further noticeable with data comparison from Patent Offices reports from around the world and the development of economies of the countries in which they are located. This paper presents the significance of innovations for global economy, economies of individual countries, but also individual companies in the market. Likewise, it presents some of the innovative solutions in marketing which have contributed to differentiation of company`s market supply, to gaining trust among customers and to increase of efficacy in long-term business.