A New Product Release Algorithm Helps a Firm Enter into New Markets and Boost Its Competitiveness

Abstract

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.