This article discusses marketing as an integral part of innovation. It shows the interrelation of marketing with other phases of innovation process. The author analyzes the genesis of understanding of the innovation essence by different scientists. He develops the definitions of such categories as innovations and innovation marketing, describes the essence and functions of innovation marketing, and shows its significance. The author works out such categories as potential innovative product and actual innovative product, and gives their definitions. The article contains four author's models presented in the form of drawings.