Explore BrainMass

Explore BrainMass

    New product development importance

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Why is it important to develop new products? Appraise how each of the criteria could be used to develop the new product (Product differentiation, Design, Service differentiations).

    © BrainMass Inc. brainmass.com June 4, 2020, 2:02 am ad1c9bdddf
    https://brainmass.com/business/differentiation-strategies/new-product-development-importance-434275

    Attachments

    Solution Preview

    Hello. I provide the attached document to assist you.

    Q&A
    Why is it important to develop new products? Appraise how each of the criteria could be used to develop the new product (Product differentiation, Design, Service differentiations).
    It is important to develop new products because a consumer's mind is constantly changing. Further, our economy is constantly changing and therefore the needs and wants of consumers will change due to the change in their incomes. "Product development is a tool used to open new markets, expand sales of current product categories, reposition a company and/or improve profitability. Product development centers its efforts on utilizing an organization's existing skills sets in a way to expand their market presence and ...

    Solution Summary

    This solution assists in deciding what criteria should be used to develop a new product.

    $2.19

    ADVERTISEMENT