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DEVELOPING AN INNOVATIVE MARKETING STRATEGY TO INCREASE THE COMPETITIVENESS OF THE
ENTERPRISE
Bobomurodov Kayimjon Homidovich
Bukhara State University, 11 Mukhammad Iqbol St, 705018 Bukhara, Uzbekistan https://doi.org/10.5281/zenodo.11422300
Abstrac. The article presents factors influencing the effectiveness of innovative marketing of enterprises, which are grouped according to the scope of their impact, scientific proposals and practical recommendations aimed at increasing the effectiveness of innovative marketing of enterprises have been developed.
Keywords: innovation, innovative marketing, research and development (R&D), innovative project, innovative product, innovative business, innovative startup, SWOT analysis, industrial enterprises, economic mechanism.
Introduction
The large-scale reforms carried out in our country's economy and the rational economic policy pursued, the high rates of development in the world are maintained. Despite serious problems that still persist in the world economy, including in many countries of the world, the economic recession caused by the pandemic continues, in 2019 Uzbekistan continued to develop its economy at a stable pace, consistently raising the standard of living of the population, strengthening the its position in the world market in a competitive environment was identified as an important factor. In Uzbekistan, priority is given to measures aimed at stimulating the implementation of innovative projects, attracting large industrial enterprises, representatives of small and medium-sized businesses to the path of innovative development, developing start-up innovative business projects and supporting their development by the state.
In recent years, the development of innovative marketing to enhance the competitiveness of enterprises has been one of the priority areas of the reforms carried out in our country. In particular, it is planned to bring Uzbekistan into the TOP-50 countries in the "Global Innovation Index" by 2030. The priority task of improving our country's position on this index in terms of low indicators recorded in this index is defined in the New Uzbekistan Development Strategy for 20222026. This situation necessitates scientific and practical research aimed at increasing the efficiency of innovation management of industrial enterprises in our country.
Great attention is paid to the development of industry, which is one of the main factors in the development of the country's economy and gives a great impetus to the development of other sectors and branches of the country's economy, improving the quality of products, creating an environment of fair competition between enterprises. As in other sectors and industries, in the industrial sector, in its various sectors and enterprises, attention is paid to modernization, improving product quality, choosing the right marketing strategies in the enterprise, determining forecast indicators through strategic analysis, and technical and technological renewal.
It should be noted that the Decree of the President of the Republic of Uzbekistan No. PF-4947 dated February 7, 2017 "On the Strategy of Actions for the Further Development of the Republic of Uzbekistan" was adopted, which defined the Strategy of Actions for the Development of the Republic of Uzbekistan in five priority areas for 2017-2021. The achievement of the goals set in the Strategy of Actions, first of all, requires increasing the efficiency of marketing activities
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of enterprises, which, in turn, requires the development and implementation of marketing strategies. Strategy is a real action program for renewal processes.
Marketing strategy is a social process aimed at adapting the enterprise's capabilities to the market, developing the enterprise's future product, price, sales, and communication development strategies, and satisfying the needs of consumers through free competitive differentiation of their demands and desires.
Marketing strategy is a direct or indirect statement that indicates the directions for achieving the goals of the enterprise for the brand or product line. Moreover, the marketing strategy itself consists of several strategies, depending on the types of its definition. One of them is the growth strategy of the enterprise.
In our opinion, it is necessary to take into account modern conditions in internal and external factors affecting the effectiveness of the enterprise's innovative marketing in the context of economic modernization and deepening competition among manufacturers, including the rapid development of innovations in the system of economic relations.
As the analysis shows, the development model of the innovative marketing strategy operating in the country has a direct impact on the factors affecting the efficiency of innovation management of enterprises. Today, three models of innovative development have been formed in the countries of the world.
The first model is a model characteristic of the world's leading countries in science and innovation, and is based on the implementation of fundamental and applied research. This type of innovative development model is typical for the USA, England and France. This group of countries achieves the development of an innovative economy by encouraging fundamental and applied research. The second model is characterized by the development of an innovative economy by creating favorable conditions for the development of innovations, and is typical for countries such as Germany, Sweden and Switzerland. The third model is a model of an innovative economy specializing in the scientific and technological development of the world economy, and is a typical model for Japan and South Korea.
It should be noted here that the models of innovative development operating in countries determine the directions of innovation activity and specialization of the enterprise. In the world economy, there is a mechanism for the implementation of innovation activity in industrial enterprises at the interconnected micro and macro levels.
The micromechanism for the implementation of innovation processes at the enterprise is manifested through the support programs for the introduction of innovations in the practice of enterprise management. The scope of implementation of innovations in its practice determines the innovative potential of the enterprise.
Factors affecting the effectiveness of the enterprise's innovative marketing create the basis for increasing the innovative potential of the enterprise. In economic literature, the levels of development of the innovation potential of enterprises are divided into low, medium and high levels.
Low level of innovation potential - is typical for enterprises that are not adapted to the adoption or development of innovations, this type of business entity in practice does not have developed or generally organized innovative marketing. In other words, being engaged in traditional economic activity, the desire to implement innovations in practice is almost imperceptible.
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Medium level of innovation potential - This applies to enterprises that strive to implement innovations in their practice, or to develop them in order not to lose their place in the market and to strengthen it. In the marketing practice of such enterprises, they are characterized by a somewhat slow pace and duration of their adaptation to innovative changes.
High level of innovation potential - This is typical for enterprises that have their own innovative position in the market, can quickly implement innovative developments into their practice, are leading in the development of new innovative products, and the activities of such enterprises are fully specialized in innovative marketing.
Taking into account the above considerations, we considered it necessary to improve the marketing strategy to increase the stability and efficiency of marketing activities in enterprises. Currently, any strategy can be considered innovative for industrial enterprises that are developing a strategy for the first time, which indicates a new way for the organization to adapt to the external environment. An organization's strategy aimed at achieving precisely innovative goals is also interpreted as an innovation process. By comparing the implementation of various strategic plans and evaluating their individual components, it is possible to determine the degree of novelty of the strategies.
We analyze the activities of the enterprise "Bukhoro don mahsulotlari" JSC, which in 2020 developed its own development strategy and began to implement it. The enterprise is currently developing successfully and has the necessary material and technical and qualification base. However, it is subject to seasonal changes in demand, carries out expensive advertising activities, and incurs high costs for some of its products.
Currently, the process of studying the internal and external environment of industrial enterprises serves as the basis for filling out the SWOT - analysis matrix. In the process of filling out the matrix, the researcher forms pairwise combinations aimed at developing a strategy for using the strengths of the enterprise from the opportunities that have arisen in the external environment.
Taking this into account, we identified the following four main strategies in conducting a SWOT analysis of "Bukhoro don mahsulotlari" JSC, comparing the strengths of the enterprise's internal environment with the opportunities of the external environment: maintaining the organization's reputation based on competitive advantages and using the brand; retaining the level of consumer confidence based on the knowledge and skills of employees; promoting high-margin products using the brand and qualified personnel; achieving profitability of mature products due to reliable suppliers. Comparison of the strengths of the enterprise's internal environment with the threats of the external environment allows expanding the agency network.
During the period of decline in the life cycle of the enterprise, it is necessary to abandon the activities that are decreasing and direct the released funds to the development of new products. The enterprise should focus on attracting new reliable partners and investors and on improving the quality of service in order to reduce the impact of new competitors.
Table 1
SWOT analysis of "Bukhoro don mahsulotlari" JSC
Strengths Weaknesses
- Good knowledge of the market; - Availability of material and technical base; - The activity has a short season; - Does not operate at full capacity;
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- Availability of specialists; - Weakness of marketing activities.
- Many years of experience;
- Favorable location;
- Providing various services to its employees; - Product quality.
Opportunities Threats
- Expanding the scope of activities; - Climate change;
- Great experience; - The abundance and increasing competition;
- Launching the production of new products; - General economic situation;
- Development of marketing research; - Failure to fulfill the terms of the contract.
- Increasing production capacity.
The data in the table above reflect the strengths and weaknesses of the enterprise, as well as its opportunities and threats.
As a result of the SWOT analysis of "Bukhara don mahsulotlari" JSC, we propose the following marketing strategy economic mechanism for its future development. Main strategy: Gaining a strong position in the market by offering consumers higher quality industrial products than those of competitors. Table 2
Composition of the economic mechanism of the marketing strategy of "Bukhara don mahsulotlari" JSC
№ Marketing strategies content Features of the implementation of marketing strategies
1 Integration strategy with consumers 1. Expansion of the regular customer base: - Development of a system of discounts; 2. Expansion of the network of intermediaries: - Improving the quality of service; - Bonus program
2 Rapid growth strategy of a highly competitive business in a fast growing market. 1. Organization of advertising campaign: - Advertisement on TV, abroad; - Advertisement in central publications; - Advertisement in regional press; 2. Price reduction: - Reducing (lowering) product prices;
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- Conclusion of direct contracts with partners and investors.
3 Industry differentiation strategy for working in promising markets with poor competitive positions. 1. Price reduction: - Reducing (lowering) product prices; - Conclusion of direct contracts with partners and investors; 2. Organization of types of advertising: - Improvement of product distribution channels.
4 Concentric diversification strategy 1. Conducting marketing research: • Studying demand; • Creating quality products; 2. Developing a logistics service; 3. Establishing relationships and contracts with investors
5 Highly competitive 1. Price reduction:
markets • Reducing product prices;
business • Establishing direct contracts with partners;
differentiation strategy 2. Developing new programs based on existing ones; 3. Organizing an advertising campaign: • Advertising in foreign and domestic press; • Organizing promotional tours; • Developing sales promotion programs
6 Strategy for improving the skills of employees 1. Staff training: • Creation of individual training schedules for each employee; • Involvement of all levels of management in strategy implementation; 2. Development of customer service quality standards
Indeed, in recent years, all indicators of the development of the country's economy have been achieved in accordance with the established forecast indicators. The development of the economy has been brought to a new stage.
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At a time when the economies of the world's countries are developing at a relatively slow pace, the achievements that have been achieved as a result of the economic reforms carried out in our country are being achieved thanks to the tireless work and efforts of our people and the leadership of our country.
Conclusion
Today, it is important for "Bukhara Don Mahsulotlari" JSC to choose the right strategic path based on its capabilities. The enterprise has the opportunity to achieve high profits by constantly modernizing itself, keeping up with its competitors and modern production structure.
Summing up, it is possible to say that the full use of the enterprise's marketing strategies can lead to the formation of demand for the enterprise's products, acceleration of the production mechanism, development of marketing mix elements, stabilization of sales processes, increase in the volume of consumers, and implementation of specific incentive measures for the consumer. For this reason, the development and selection of a marketing strategy is intended to attract more existing and potential consumers
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