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Modeling the Market Value of a Product Based on New Technologies - Preliminary Tool Concept

Filipowicz Paweł

Decision Making in Manufacturing and Services

2024

Vol. 18

99--117

Changes in the way market advantage is achieved and the emphasis on value creation that has been introduced by technological change are forcing companies to seek new and effective management tools when it comes to innovative activities; hence, the discussion and presentation of the conceptualization of such a decision-making model. Its basic premise is to take the technology life cycle as a determinant of the market diffusion of a product based on the use of new technologies. Consequently, a decision matrix is developed – one dimension of which is innovation measured by the dynamics of technical debt and the other by customer-perceived value. The product as an analytical object is considered as the sum of the utility functions while allowing for each utility function to originate from the use of a different technology (which is in an adequate phase of its life cycle). After presenting the theoretical model, an example of an analysis of a fictitious product is given, which is a device for cooling and printing food substances. The presented analysis example shows the practical possibilities of using the developed decision-making tool in the areas of the technological and marketing activities of the enterprise and, in particular, the design of new products or new utility functions.