A business enterprise does have a product policy to guide the product manager to work out this approval towards product planning and development.
Developing and introducing new product is a risky and expensive task. It is risky in he sense that new product may prove a failure between 30% to 90% as per expense quoted by marketing experts. It is expense because it requires a careful process and is time consuming.
The main cause of new product failure is lack of.
But inspire of the risks and expense, new product planning and development is carried to meet need of the time. This is to be so because in the present fast challenging consumers market, failure to introduce new products can also be risky.
Before a new product is introduced, it goes through six phase or stages , which follows , in per post of this blog..... below...
Developing and introducing new product is a risky and expensive task. It is risky in he sense that new product may prove a failure between 30% to 90% as per expense quoted by marketing experts. It is expense because it requires a careful process and is time consuming.
The main cause of new product failure is lack of.
But inspire of the risks and expense, new product planning and development is carried to meet need of the time. This is to be so because in the present fast challenging consumers market, failure to introduce new products can also be risky.
Before a new product is introduced, it goes through six phase or stages , which follows , in per post of this blog..... below...
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