The main purpose of the present article is to select a reference model for a new product development process, which must be the most appropriate for technology-based electronic companies. The object of the study is the local productive settling of Santa Rita do Sapucai, State of Minas Gerais, Brazil. In recent literature research, a trend in performing studies that focus on specific models applied to singular sectors in industry fields has been identified. The research approach is based on a mathematical modeling. Analytic Hierarchy Process is applied in order to identify the most suitable model to technology-based electronic companies.