Decision to rescue failed product innovation projects based on the leading innovation strategy
School of Management, Wuhan University of Technology, Wuhan, Hubei, China
The leading innovation strategy is one of the important methods used to rescue failed product innovation projects. Rescuing failed projects based on the leading innovation strategy, rescuing time and points of competitors participating in the market can affect the probability of success. The established mathematical economic model can be used to analyse the cost of rescuing failed product innovation projects and income when competitors participate in the market in the introduction period, growth period, or mature period. The model can also be used to determine the feasibility of the leading innovation strategy and measures that enterprises should take to obtain greater profits under different competitive environments.