This posting addresses new product development.
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In an economy of change, continuous innovation is necessary. Most companies rarely innovate, some innovate occasionally, and a few innovate continuously. Why should a company continuously develop new products?
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The solution provides a detailed discussion addressing if companies should continuously develop new products. References are also provided.
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A company must continually develop new products for a few different reasons. One of the main reasons is that all companies experience a situation at various points in their history where sales decline from the existing product lines. By developing new products, the company is driving sales up again by expanding their product offerings. When companies expand their product offerings, it oftentimes leads customers to purchase additional products from the ...
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