Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consumer Oriented Product Development
It is important that new product development strategies are adjusted to identified needs in the market. This requires an appropriate methodology to translate consumers' choice or expectations into identifiable quality characteristics. Once this concept is formed it will be possible to provide detailed guidance for product development. Consumer oriented approach consists of five steps:
1. Identify the opportunity for new product 2. Design of the new product 3. Market testing of the new product 4. Launching the product in identified markets and 5. Life - cycle management. Opportunity identification stage concerns the definition of the best market segment to introduce the new product, and the generation of new product ideas. At the product design phase the plan of action is :
1. To identify the key benefits the product is to provide to the consumer 2. Positioning of these benefits versus competitive products and 3. Development of the product and marketing strategy. Purchasing pattern of the consumer, what they consider important in their choice behaviour and what they consider short - comings in present product supply provide insight into some basic issues of product development. Consumer perception and preference have to be carefully studied while formulating a new product. Market testing may involve segmentation to identify relevant subgroups of consumers that are homogeneous in terms of preference and purchasing behaviour. If the new product is promising, as judged by the testing, it is ready for commercial sale. With our understanding of the concept of product development and the factors which influence it, let us now learn the process i.e. the methodology of product development
why HOH is not harmful to our body but Phenol is?
Which chromium plating is more eco-friendly - trivalent or Hexavalent? Justify your answer in the light of environmental issues caused.
assignment help for nitrenes
define
Neoprene (GR: or Polychloroprene or Dupe) Preparation: Neoprene is prepared by the free radical polymerisation of chloroprene in an emulsion system. Starting materials are ac
Q. Describe the Freezing - Techniques of preservation? This is a method of preservation using low temperature. The chief preservative effect of freezing lies in the inability o
What types of detergent remove oils and fats
The type of orbitals present in Fe is : (1) s (2) s and p (3) s, p and d ()s, p, d, and f Ans: s, p and d
how to titrate using Tc-99
why lanthanide series is called lanthanide?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd