This is something that I have been doing. If I understand your question correctly, you are looking at a new product using existing algorithms and techniques. If this is the case, the answer is yes: many journals will welcome this, as I have found. I have also taken an existing technology, aspects of existing algorithms, based on existing research and developed a brand new technique.
A couple of caveats though:
- You will need to make the specific context to which it will be used crystal clear, this must be the focus.
- You must give full credit for the prior information and techniques.
- You must fully justify why such an altered technique is useful, what are the implications and benefits of such a product.