Innovation management. Price of innovative products (most important)

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Innovation management. Price of innovative products (most important)

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71. PRICE OF INNOVATIVE PRODUCTS

In innovation management, there is a price management technique - this is a mechanism for the impact of prices on the implementation of innovation, which consists of:

1) pricing policy - this is the policy of pricing for an innovative product or service;

2) pricing factors - these are the factors that have an effect on the stage of development and implementation of innovations. The cost of a new product or service in the market

it is the interaction of the total economic factors of a particular production with potential supply and demand.

The cost of an innovative product is determined by the result that the product gives in production and the market.

The price of innovation is the monetary expression of the result from the use of innovation.

Pricing factors:

1) external:

a) the amount of consumer demand for innovation;

b) solvency of a potential buyer;

c) the economic potential of the sales region;

2) internal:

a) the cost of each of the activities carried out;

b) the required amount of profit and revenue;

c) the planned economic performance from the implementation of innovation.

The price of innovation takes into account:

1) the period of application of the innovation, limited by moral interest;

2) the result from the application of innovation, expressed in the accumulation of additional profit from the production of innovation;

3) distribution of the result from the application of innovation between the seller and the buyer. When establishing a market price for an innovative product, the needs of the seller and buyer of innovation are taken into account.

The formation of a pricing policy consists of the following steps:

1) setting the goal of pricing policy for a specific innovative product or service;

2) assessing the demand for an innovative product or service in the period under review and in the long term;

3) analysis of the economic and production capabilities of the company;

4) studying the price market.

Factors that affect pricing policy:

1) external:

a) modification of the initial size of demand;

b) modification of the behavior of competitors;

c) policy of the state and regional authorities in the field of economy;

2) internal:

a) taking steps to organize the image of the company;

b) expanding the attraction of cash receipts and the desire to enter adjacent sales markets.

The price of innovation is determined by such methods as:

1) direct calculation of the cost of the product, taking into account the predicted profitability;

2) calculation using market valuations;

3) calculation using the analysis of consumer requests by price level, taking into account the consumer properties and quality of innovations;

4) comparison of the quality of innovation with an analogue product;

5) setting a conditional price, taking into account changes in the parameters and characteristics of innovations;

6) application of the prototype price and recalculation relative to the industrial design.

Authors: Evgrafova I.Yu., Krasnikova E.O.

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