Marketing innovations as source of enterprise's competitive advantage

Abstract

Enterprise's competitiveness and strategic position are influenced by numerous factors. Market factors represent significant group that cause the need for developing new business models and implementing strategic shifts in business orientations of enterprises. Development of innovations and marketing capabilities are critical factors of modern enterprises' success. Theory and practice show that both innovations in marketing and marketing of innovations contribute to improving competitiveness on all levels, and also more efficient use of limited resources. This paper is structured as follows: first the competitiveness of Serbian economy is analyzed, then role of market orientation and open innovation models are explained as well as their importance for improving competitiveness. At the end, based on results of researching theory and practice of enterprises in Serbia, authors present identified relation of business performance, innovativeness and market orientation, followed by conclusions and directions for further research.

Keywords

• innovations
• competition
• market orientation
• marketing
• competences
• enterprise
• business performances