Abstract
This study is aimed at forming modern approaches to product competitiveness evaluation for companies of various industries. Relevant task is to obtain a quantitative evaluation parameter for product competitiveness that enables to adequately compare competing products. The study was performed using the methods of systems and structural analysis, strategic modeling and general principles of economic studies. The paper includes review of the existing approaches to product competitiveness evaluation based on its qualitative and quantitative assessment. Key groups of parameters that effect competitiveness of the manufactured product were determined, and an approach based on Harrington desirability function was suggested for its evaluation.
Highlights
Evaluation of product competitiveness for companies of different industries is the key factor for their success on the market
All authors agree on the necessity to obtain adequate quantitative assessments of product competitiveness based on which strategic marketing decisions could be made
The purpose of this research is related to obtaining quantitative assessments of product competitiveness based on the product's qualitative parameters
Summary
Evaluation of product competitiveness for companies of different industries is the key factor for their success on the market. The field of studies is related to industrial management and focuses on competitiveness evaluation for the manufactured product. The authors note lack of a uniform method that enables to clearly evaluate product competitiveness. V. Faltsman suggests defining product effectiveness through indices that connect import and export parameters [1]. Kantor offer to introduce a balance criterion for competitiveness parameters [2]. All authors agree on the necessity to obtain adequate quantitative assessments of product competitiveness based on which strategic marketing decisions could be made. The preferable variant of such assessments will be their representation in the form of an index using which general evaluation of competitiveness can be performed [3]
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