Management of the innovation life cycle in a market environment: from development to implementation

The subject of this study is the process of managing the innovation life cycle in a market environment, encompassing all stages – from idea generation, concept development, design, and economic justification to the introduction of the innovative product to the market and its commercialization. Particular attention is paid to the integration of strategic, economic, technological, and marketing tools that ensure the continuity and controllability of the innovation process. The research focuses on methods of planning enterprise innovation development, mechanisms of risk management, assessment of the economic feasibility of implementing new technologies, and the creation of strategies for adaptation to a dynamic market environment. The paper examines issues related to the structuring of the innovation process, the interconnection between the stages of the innovation life cycle, analytical forecasting methods, and tools for monitoring performance. Approaches to forming innovation portfolios, setting investment priorities in technological development, and creating mechanisms to ensure the sustainability of innovative solutions are also explored.The purpose of the article is to develop theoretical and methodological foundations and practical recommendations for the effective management of the innovation life cycle in today’s market conditions. The research focuses on exploring the logic of interaction between strategic planning, product development, economic efficiency assessment, and the commercialization process. The key objectives are to identify the main stages of innovation management, establish success criteria, develop risk forecasting methods, and define decision–making models that contribute to cost minimization, increased efficiency, and reduced time from innovation development to implementation.Research Methodology. The methodological foundation of this work is based on systemic and process–oriented approaches, which ensure the integrity of innovation cycle analysis. Structural–functional analysis methods are used to examine innovation as a dynamic system where economic, technological, social, and managerial factors interact. Economic and mathematical models – including risk assessment models, net present value (NPV) calculation, sensitivity analysis, and real options methods – are employed to evaluate investment efficiency in innovation. Expert evaluation methods, scenario analysis, SWOT, and PEST analyses are applied to identify the strengths and weaknesses of the innovation process. To assess the competitive environment and forecast market trends, the study utilizes foresight research tools, benchmarking, and statistical methods such as correlation–regression analysis. A key methodological component is a systematic approach to risk management that integrates the principles of Stage–Gate, Lean Startup, and Agile into a unified model for managing the innovation life cycle.Research Results. The study identifies a structural model for managing the innovation life cycle, comprising three key phases: strategic planning, product development, and market entry. For each stage, a set of management tools has been developed – from idea generation and economic validation to marketing strategy design and innovation diffusion. It was established that applying an integrated approach reduces risks during the development and commercialization phases by 25–30% and shortens the product’s time–to–market. An adaptive innovation portfolio management model was proposed, combining analytical tools (SWOT, Value/Complexity, Risk Matrix) with digital monitoring systems (BI dashboards, Digital Twin). The study revealed that innovation management efficiency increases with the integration of Lean Startup and Agile Project Management methodologies, which enhance adaptability to market changes and improve the ROI of innovation projects.Conclusions. Managing the innovation life cycle in a market economy is a multi–level process combining strategic vision, flexible planning, risk management, and digital analytics. The proposed model aligns all stages – from idea to commercialization – through a continuous process of validation, economic feasibility assessment, and performance monitoring. The application of integrated approaches such as Stage–Gate, Design Thinking, and Value–Based Management helps to shorten the innovation cycle, minimize financial losses, and ensure sustainable enterprise development. The findings confirm that innovation management effectiveness largely depends on information transparency, the use of analytical tools, and the organization’s readiness for change. The implementation of digital planning systems, visual dashboards, and KPI–based control establishes a foundation for data–driven decision–making. Thus, strategic management of the innovation life cycle serves as a crucial instrument for building competitive advantages and enhancing the economic performance of enterprises in a dynamic market environment.