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Improving the innovative development mechanism of the trade sector

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The article is devoted to the development of approaches to improving the mechanism of innovative development in the trade sphere. The novelty of the research lies in the development of the concept of knowledge management. According to it, knowledge must be identified and disseminated for it to become an integral part of the mechanism for ensuring the competitiveness of a trading company. The leading role in this should be played by modern information technologies, due to which knowledge becomes a source of competitive advantages for a trading enterprise. The innovative development of a modern trading enterprise should provide for intellectual capital, which determines the competitiveness of its economic system. In such conditions, the differences of a modern trading enterprise are revealed, such as flexible workforce, human resources, the network structure of the organization of activities, and employees. Promising areas that increase the innovativeness of the trade sector include new technologies that allow to open up additional opportunities for differentiating strategies in the service sector of trade organizations, as well as information and communication technologies for studying and considering the individual characteristics of the buyer. The research prospects include conducting marketing research, including researching the sales market, marketing tools, internal and external environment, and the goods market. In a unique selling proposition for the consumer, retailers should focus on strategic differentiation from competitors in such areas as price, quality, enjoyment of the shopping process, quality of service, breadth of assortment, unattended purchases, and the latest achievements.

How to cite this article:
Panasenko SV, Cheglov VP, Ramazanov IA, Krasil’nikova EA, Stukalova IB, Shelygov AV. Improving the innovative development mechanism of the trade sector. J Adv Pharm Educ Res. 2021;11(1):141-6. https://doi.org/10.51847/ZbHKEiPwkb
Panasenko, S. V., Cheglov, V. P., Ramazanov, I. A., Krasil’nikova, E. A., Stukalova, I. B., & Shelygov, A. V. (2021). Improving the innovative development mechanism of the trade sector. Journal of Advanced Pharmacy Education and Research, 11(1), 141-146. https://doi.org/10.51847/ZbHKEiPwkb
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