Strategies and Stages in Product Development

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.

The authors declare no conflict of interest.

Not applicable

The datasets used in this study are openly available at [repository link] and the source code is available on GitHub at [GitHub link].

This work did not receive any external funding.