| Abstract [eng] |
Relevance. The significant scale of digital and internet technologies made more and more people build businesses online in recent years. As a result, start-ups are created every day and attract considerable funding, which has increased exponentially in the last few years. However, the exponential growth of the start-up’s economy is followed by the shadow of failure, as 90% of start- ups fail within the first five years. According to multiple analyzed data sources, the struggle to find the market fit and develop a poor product without a loyal customer base are typical factors that usually impact start-up failures. The early-stage product has to meet the requirements of the chosen market, and only then customers may trust it. Therefore, startup could use the trust-related behaviour of the customer for success. Trust's role in building a successful start-up could be significant as it promotes cooperation and attracts more people. Problem. One factor that makes customers stay with the company and use its product is trust. Based on this fact, it could be stated that there is a need to understand how to build and manage customer trust for early-stage products in the newly established start-up company. So, how to manage customer trust while developing an early-stage digital product in a newly established start-up? Object. Customer trust management in the early-stage product development process. Aim. To provide a model of customer trust management principles that would help start-ups develop early-stage products. Objectives: 1. To disclose the reasoning behind start-ups failures and build a base for customer trust development research. 2. To analyse the theoretical concepts of customer trust management in early-stage digital innovations. 3. To build a customer trust management principles model for the startup with early-stage digital product. Research methods. The scientific literature review, empirical research, overview of research results. Research results. The research of literature resulted in customer trust management model for startup with early-stage product. Another customer trust management model was made after empirical study based on qualitative analysis findings. The results were concluded, and recommendations were provided. |
