MEANS OF INDIVIDUALIZATION AS A METHOD OF DIFFERENTIATION IN THE COMPETITIVE MARKET OF INNOVATIONS
Abstract
The article is devoted to a comprehensive study of the importance of means of individualization in the promotion and development of innovative products in a competitive market. In today's world, where competition on the market is becoming increasingly intense, innovative development and attracting new consumers are becoming key challenges for business. One of the ways to achieve success is to use the means of individualization, which actualizes this scientific direction. The aim of the study is to reveal the potential of individualization tools as an innovative method that helps companies grow and achieve competitive advantages in the market. Within the framework of the work, such methods of scientific knowledge as analysis and generalization were used to reveal the category and significance of individualization tools in the context of innovations and to form conclusions, the comparison method was also applied during the study of statistical data of objects of individualization tools. The results of the study show that the means of individualization allow manufacturers and enterprises to stand out among competitors, attract the attention of consumers, apply new technologies and form a positive attitude of their brand. It has been established that trade names, trademarks and geographical indications are the main objects of means of individualization. In particular, the author investigated that commercial names help to create recognition of an innovative company and increase the level of consumer confidence. Trademarks act as an effective means of distinguishing products from other products on the market and guarantee consumers quality products and services. Geographical indications promote products from certain regions or countries, focusing on their features and quality that are inherent in a particular geographical area. When identifying the functions of individualization tools for innovative enterprises, it was established that the use of these objects contributes to attracting the attention of consumers, creating a positive brand of an innovative company, and increasing its value on the market. In practice, this is reflected in the active growth of the number of registered trademarks and geographical indications both in the world and in Ukraine as well.
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