THE MAIN ASPECTS OF THE ECONOMIC JUSTIFICATION FOR THE INTRODUCTION OF INNOVATIVE TYPES OF FURNITURE PRODUCTS INTO EXISTING PRODUCTION

The development and implementation of innovative types of furniture products is one of the most important components of the strategic development of an existing enterprise. This process allows you to create unique competitive advantages in the industry. This is facilitated by the latest trends in the market, namely the record commissioning of new buildings, which creates an incredible demand for furnishing new apartments. Restrictions on the import of furniture from unfriendly countries and the emergence of new markets, for example, the ability to supply domestic furniture to Chinese consumers, also played a role. At the same time, the introduction of an innovative product type is impossible without its economic justification, which is a description of all the component costs of producing this product, from which its cost price will be formed in the future, choosing the appropriate price of the product and forecasting profits or losses from its introduction. Based on the relevant conclusions, the management is already making a decision on the feasibility of developing and implementing an innovative furniture product.