Creative Competencies and Innovation Marketing in the Context of Defining the Determinants of a Company's Competitive Strategy
DOI:
https://doi.org/10.37886/ruo.2023.020Keywords:
creative competencies, innovation, innovation marketing, strategic marketingAbstract
Research question (RQ): Innovation marketing is a business function that effectively connects creative competencies, manifested innovation, and the economic prosperity of a company. The elements of the innovation marketing strategy can be projected based on this paradigmatic premise. Although the concepts of creative competencies and innovation are connected, it is unclear how these two concepts affect the process of developing organizational values. As a result, a fundamental research question is posed: What types of innovation and creative competencies influence the development of organizational values?
Aim: The paper aims to conceptualize the relationship between various forms of creative competencies and innovation in the context of innovation marketing. With the help of a conceptualized paradigm of the relationship between creative competencies and innovation, the paper aims to create a platform for more effective and precise strategic marketing management within the company as a tool for achieving its business success.
Method: Qualitative research was conducted and secondary data were collected that refer to the relevant domain of creative competencies, determinants of innovation marketing, and its importance in the process of creating an efficient and competitive company. The theoretical assumptions of the aforementioned research fields were developed with the help of this qualitative research.
Triangulation (extensive sources of adequate recent provenance) was also used for further methodological confirmation.
Results: There won't be enough development of creative competencies that are directly responsible for an innovative approach without promoting creativity through individual freedom within the company. Due to the innovative approach, this strategy is especially crucial since without sufficient strategic marketing involvement, the prerequisites for the company's success will be lacking. (Piekkola, 2018, pp. 608-607). The function of marketing plays an important role in bridging the gap between the company's level of innovation and its creative competencies. One of the key justifications for creating an economically effective and competitive company is the interaction between these two components and continuous organizational encouragement.
Organization: In the context of innovation marketing, the paper defines a model of creative competencies. The proposed model's theoretical assumption indicates that it has a favorable impact on the company's organizational effectiveness and overall business results.
Company: By encouraging the engagement of a wider range of stakeholders in society, the implementation of the innovation marketing concept can have positive consequences on the community as a whole in addition to having a positive impact on the company's business results.
Originality: The theoretical research highlighted the role that innovation plays in the expansion and development of the company. After the variables are operationalized, the proposed model may be empirically tested and, as a result, can be used as a management tool by successful companies.
Limitations/further research: This paper's main goal was to study the relevant scientific and professional domains of innovations and innovativeness in the area of company operations. This means that no primary research was carried out; only secondary sources were examined. Therefore, this research represents one aspect of theoretical pilot research for further quantitative research. The actual impact of innovation as a result of the company's marketing strategic commitment to its business performance should be explored based on the provided theoretical research model.
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