English, asked by burhanbadshah167, 4 months ago

in which approach ,strategirs,producr desgins and operations are geared towards natioanl markets customers and competitors

Answers

Answered by DikshithP

Answer:

Everything you need to know about the process of new product development. The term new product includes an original product, an improved product with new features and quality, a modified product and a new brand.

The companies need to make continues endeavour towards product development to cope up with rapid changes in consumer tastes, technology and competition. The first step towards product development understands the nature of market, the competitors and needs and wants of the consumer.

A new product is the result of a series of steps taken by a company, beginning with the conception of a new idea to its successful commercial exploitation. If the idea is commercially viable, the production and marketing of the product on a full scale are undertaken.

Explanation:

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