A strategy for new product development
Summary :
Table of Contents
- Abstract
- Introduction
- Concept of product development
- New product development and design
- Product policy of an organization
- Lowest price
- Highest quality
- Compromise between cost and quality
- Safety
- Selection of a profitable product
- Product development procedure
- Interrelation involved in product design development
- Conclusion
- References
Abstract
In the recent time, knowledge and its technological applications have grown at ever steeper rates, worldwide, in virtually all fields - food, medicine, materials, environment, services, manufacturing, etc. The new business is rooted in cutthroat competition. Competition has been more pervasive and is no longer confined to exist between domestic companies only. At home, companies will have to compete with products made by international players as well as those produced in the backyard of some unassuming industrialist. Trade barriers have dissolved drastically and multinational corporations now operate throughout the world with ease and comfort.
Free market reforms, efficiencies in production and distribution of goods, free flow of information with the advent of Information Technology and world trade organization's worldwide reputation, to name a few factors, have 'redefined' competitiveness. Hence, the domestic companies that want to come out stringer will have to go abroad by developing the products as per global requirements.
Free market reforms, efficiencies in production and distribution of goods, free flow of information with the advent of Information Technology and world trade organization's worldwide reputation, to name a few factors, have 'redefined' competitiveness. Hence, the domestic companies that want to come out stringer will have to go abroad by developing the products as per global requirements.
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