MARCHASIA BUSINESS OUTLOOK9ROLE OF PRODUCT DEVELOPMENT IN ENSURING BUSINESS SURVIVALIMPRESSIONSRenowned as product development, it is a series of steps which include the conceptualization, design, development and marketing formed newly that are branded again by goods and services. Product development includes a product's entire journey from the initial idea which is forwarded to market after release. The product development object from a business standpoint is renowned for being cultivation, maintenance and increase of a company's market share that are satisfying consumer demand. From the view of a customer standpoint, it is to ensure a value in the product as a quality good or a service. Not every product will be appealing to every customer or client base. By definition the target market for a product it is critical for the step of must take place before the product development process. Organizations should be conducting quantitative market research at every phase of the design process, including before the product or service is conceived and the product is being designed and after the product getting launched. Some of the organizations have been in the product development centers for making the products excellent.
< Page 8 | Page 10 >