The article reveals an important problem of determining the approaches to the design of equipment to ensure a company’s effectiveness in an uncertain demand. The participants of the market can survive in various economic conditions while maintaining the necessary level of financial performance only if they keep adapting their product strategy and pricing policy to the new realities. Business is committed to maximizing its profits, which, with the reduced economic activity and the drop in the global demand for equipment, leads to the need to improve products and company competitiveness as a whole. Today the market players of power generation equipment are in constant search of competitive advantages in the conditions of unstable demand. Competitiveness of products should be estimated in terms of manufacturer and purchaser. New criteria are forming for design, manufacture and service. The history of the development of approaches to innovations and analysis of global trends, the factors that determine the competitiveness of the product and the company as а whole were considered in the paper. The authors proposed new approaches to estimating product competitiveness and to managing the company’s innovation policy; some aspects of practical applications were discussed using the example of the power machinery sector taking into account the specifics and the current realities. Additionally, mathematical and theoretical mechanisms were proposed which could be a basis for decision-making in developing and implementing new technologies, pricing and marketing.