CURRENT TREND IN THE DEMAND FOR INNOVATIONS IN THE WOODWORKING INDUSTRY IN SLOVAKIA

The paper deals with innovations in the woodworking industry in Slovakia and its innovative trends based on the change in demand for these innovations in Slovakia. The primary method used in the paper is the calculation of the income elasticity of the demand, through which we calculated the income elasticity of the demand for innovations in the woodworking industry. Based on its values, we can state the necessity of using marketing communication to increase interest in ecological innovations, as the demand for this type of products does not grow sufficiently with the increasing incomes of Slovaks. Therefore, there is a lot of possibilities for the use of new forms of marketing communication based not only on outbound marketing but also on inbound marketing in the woodworking industry to promote wood products.