New algorithm revolutionizes competitive product introduction strategies for firms.
The article discusses a method for two companies to decide which products to introduce to the market. One company leads by introducing products first, while the other follows. The leader aims to maximize profit within a budget, while the follower tries to minimize the leader's profit using its own budget. The researchers developed a mathematical approach to solve this problem and tested it on various scenarios. Their method effectively addresses challenges in product introduction and provides a new way to optimize product variety in a competitive market.