The modern approach to product creation is based not on intuitive ideas, but on the real-time analysis of users' digital behavior. It allows for predicting audience demands and actively shaping them by adapting the product to specific scenarios. Amid information overload, consumers place high demands on the quality and personalization of service. To build long-term relationships with the audience, brands need to ensure a seamless digital experience at all stages of interaction. The article explores modern innovative approaches to product development and promotion within the context of the economy's digital transformation. Special attention is paid to how digitalization is changing the logic of product creation and marketing communications: the focus shifts toward data, the speed of response to market demands, and the delivery of a seamless customer experience. The transformation of the product lifecycle stages is analyzed separately, covering the acceleration of time-to-market for new products through digital prototyping and split testing, dynamic positioning management based on real-time analytics, and the adaptation of promotion strategies to audience behavior on social media and marketplaces. The key tools shaping these new practices are examined, including artificial intelligence and machine learning for demand forecasting and offer adaptation, big data for segmentation and hypothesis testing, immersive technologies for audience engagement, and omnichannel systems. The research results allow for systemizing current innovative methods and offering practical recommendations for their implementation in organizations' marketing activities, taking into account the business's level of digital maturity and the specifics of the target audience. The recommendations on innovative approaches have been tested at an Omsk confectionery enterprise. The article will be of interest to corporate executives, marketers, and brand managers.