Strategies and Stages in Product Development

London Journal of Research in Management and Business
Volume | Issue | Compilation
Authored by Manisha Jassal , Manisha Jassal
Classification: JEL Code: L15
Keywords: product development, strategies, stages.
Language: English

Development of a product is an important way of businesses to stay ahead of the competition and continue to appeal to the changing needs of various customers. And, new product development can open up new channels of marketing, which helps to increase the shares of market. Modifying already existing products or developing products so they appear new, and offering those products to new markets is the definition of product development strategy. There are varieties of strategies and processes for the effective development of the product.



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