Marketing coordination of innovative processes in the context of digitalization

Digitalization is a change of the business form in the context of digital reality, taking data into account. The authors considered the main definitions of the digital economy as a concept. Digitalization is one of the key directions in the marketing strategy of business development. This procedure finds its application at every stage of the innovation process: development, production, and bringing the product to the market. The research paper considers the influence of business processes of digital transformation on marketing activity; the study organizes the interaction of market subjects in the digital environment, and it determines the nature and direction in which the transformation of processes that control marketing activity in the digital economy occurs. The proposed network of marketing communications in the digital environment represents the overall system in which marketing coordination exists – precisely this outline indicates the digital platform on which this interaction is currently implemented. It has resulted in possible ways of implementing communication in the context of digitalization. The study reveals the peculiarities related to coordinating of innovative processes based on relationship marketing. It determines their advantages in the marketing coordination of innovative processes: intensification of processes, reduction of costs, and increase in the speed of particular processes. Disadvantages have been also identified, they are the risk of stealing ideas and hacking, and the search for competent employees which is currently difficult to accomplish. However, the digitalization process does not cancel and does not change the tasks that marketing solves: market research, product promotion, and others. Rejection of digitalization or lagging in the development of this area faces the companies with significant costs and losses, such as loss of customers, drop in sales volume, loss of suppliers and business partners, and, finally, image. The successful application of digitalization provides the ability to manage relationships with counterparties through various channels, respond promptly to requests, and extract the necessary information from the data array. Appropriate marketing tools vital for the creation of innovative technologies have been developed.