Innovation as the object of market exchange

• Main Authors: Jerzy Koszałka, Damian Kuźniewski, Joanna Pniewska
• Format: Article
• Language: English
• Published: The Institute of Aviation 2014-03-01
• Series: Marketing of Scientific and Research Organisations
• Subjects: consumer; innovation; market exchange; marketing; product; production; risk; service companies
• Online Access: http://minib.pl/en/innovation-as-the-object-of-market-exchange/

The article discusses the problem of the characteristics of innovation as products that the world increasingly also in Poland, are the object of market exchange. They differ substantially from the products offered by the production and service companies in the markets of consumer goods, also ready-made industrial goods. The key differences are due to the fact, that innovation can be a product — market traded object already as an idea and concept, or as a solution in different phases of development and growth. This will involve a high degree of uncertainty as to all aspects of the pro-innovation project in the development process. This applies above all intellectual property rights in the development process of innovation, functionality and technical parameters of solutions, manufacturability of solutions, affecting the ability of their production, marketing aspects, as well as the economic and financial aspects. In addition, the theoretical issues related to innovation as products — objects of the market exchange are discussed with examples from practice Gdansk University of Technology, who is the creator and provider of innovative solutions for the industrial market. There are characterized changes in knowledge, uncertainty and risk, resulting from the process of innovation. The article ends with conclusions.