Development and promotion of new product in Small enterprises in the Republic of Macedonia

Abstract

The dynamic changes in the market are the result of technological and competitive changes, as well as the change in customer preferences. In conditions of rapid market changes, in order to ensure successful market positioning, companies must constantly revise the design of the products in their production program. Generally speaking, design and development of a new product should be considered as a crucial factor for the survival of every company on the market. Compared to the big enterprises, flexibility to market changes is a certain advantage for small enterprises. Namely, small enterprises are able to implement activities for introducing, modifying and promoting new products for a shorter period of time. In this paper, a theoretical and empirical review of the introduction and promotion of new products in small enterprises has been made, as an important factor for intensifying their market activities. The results of the empirical research show that basic weaknesses in the implementation of this concept in the Republic of Macedonia are primarily connected with the specifics and limited resources in the operation of small enterprises