Open AccessA New Product Release Algorithm Helps a Firm Enter into New Markets and Boost Its Competitiveness
Author(s) -
Alexander Chursin,
О. Н. Евтушенко,
Svetlana Yu. Murtuzalieva
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/753/2/022090
Subject(s) - diversification (marketing strategy) , boosting (machine learning) , computer science , new product development , key (lock) , competitive advantage , production (economics) , industrial organization , algorithm , economics , business , artificial intelligence , marketing , microeconomics , computer security
The article describes a topical matter that is the development of approaches to boosting high technology enterprises’ effectiveness while retaining existing and creating new competitive advantages. A key approach, the authors believe, is launching the production of new types of items using existing technological solutions. An algorithm has been developed to evaluate a company’s capability of creating new types of products; the algorithm is based on an economic-mathematical model, which calculates using advanced optimization methods. The research results can be used to create methods relating to diversification and import substitution programs.