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The European Journal of Applied Economics

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The Importance of Marketing Innovation in New Economy

Dejan Ilić
  • Corresponding author
  • Union University - Nikola Tesla, Faculty for Strategic and Operati onal Management 29 Staro Sajmiste Street, Belgrade, Serbia
  • Email:
/ Slavica Ostojić
  • Faculty of Business Economics and Entrepreneurship 8 Mitropolita Petra Street, Belgrade, Serbia
/ Nemanja Damnjanović
  • Faculty of Business Economics and Entrepreneurship 8 Mitropolita Petra Street, Belgrade, Serbia
Published Online: 2014-05-08 | DOI: https://doi.org/10.5937/sjas11-5015

Abstract

The new economy is greatly determined by the globalization process, radical and frequent changes, as well as the growing importance of knowledge application through the successful implementation of innovation. These determinants directly affect the fact that sustainable competitive advantage primarily reaches organizations that have developed the ability to improve the level of efficiency and effectiveness with the constant development of the total innovation performance. In the new economy, organizations that have the ability to develop and adopt the invention in a short period of time and profitably apply it in all areas of business reach competitive advantage over the competition in time. The growing importance of innovation in function of achieving a sustainable competitive advantage determined a brand new concept and innovation classification. Nowadays, the term innovation means not only a significant improvement in process and product technology, but it refers more to the innovation process in the field of human resources, especially in marketing management. For the above mentioned reasons, the paper pays special attention to the marketing innovation analysis and the increasingly significant impact it has on the process of achieving sustainable competitive advantage.

Rezime

Savremena ekonomija je u najvecoj meri, determinisana procesom globalizacije, radikalnim i frekventnim promenama kao i rastucim znacajom primene znanja kroz uspešno implementiranje inovacija. Navedene determinante direktno uticu na cinjenicu da održivu konkurentnu prednost prvenstveno dostižu organizacije koje su razvile sposobnost unapreenja nivoa efikasnosti i efektivnosti uz neprestani razvoj ukupnih inovacionih performansi. U savremenoj ekonomiji, organizacije koje su razvile sposobnost da u što kracem vremenskom intervalu usvoje invencije i na profitabilan nacin ih primene u svim oblastima poslovanja, dostižu konkurentnu prednost u odnosu na referentnu konkurenciju tokom vremena. Rastuci znacaj inovacija u funkciji dostizanja održive konkurentne prednosti je uslovio i sasvim novi pristup pojmu i novu klasifikaciju inovacija. Danas se pod pojmom inovacija ne podrazumeva iskljucivo proces znacajnog unapre_enja proizvoda i tehnologije, vec se pojam sve više odnosi na proces inoviranja u oblasti upravljanja ljudskim resursima a narocito u oblasti marketing menadžmenta. Iz navedenih razloga, u radu je posebna pažnja posvecena upravo analizi marketing inovacija i sve znacajnijem uticaju koji imaju na proces dostizanja održive konkurentne prednosti.

Keywords: innovation; marketing innovation; sustainable development; sustainable competitive advantage; social networks

Ključne reči: inovacije; marketing inovacije; održivi razvoj; održiva konkurentna prednost; društvene mreže

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About the article

Received: 2013-11-29

Accepted: 2014-02-21

Published Online: 2014-05-08

Published in Print: 2014-04-01


Citation Information: Singidunum Journal of Applied Sciences, ISSN (Online) 2217-8783 , DOI: https://doi.org/10.5937/sjas11-5015. Export Citation

© by Dejan Ilić. This article is distributed under the terms of the Creative Commons Attribution Non-Commercial License, which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY-NC-ND 3.0)

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