Factors contributing to new product development, Marketing Management

Assignment Help:

Factors contributing to new product development:

Several factors contribute to the new product development, while most are related to the external environment variables, the most important internal factors in the new product development is the surplus capacity that a firm may have at any given time.

Changing customer preferences: the driving force in the new product development is changing customer life styles, leading towards a change in the customers' preferences and expectations. The changing role of women, growth in the nuclear and stand alone families' increasing in education and income levels, and a manifold increase in the electronic media also contributes towards changing customer's expectations and preferences.

Technological changes: another factor is the technological in the industry and the market. For example, if Mrs. India Gandhi's government has not decided to expand the television network to cover 70 % of the India population, launched its own satellite INSAT IB and started colour telecast in 1982. It is extremely doubtful if many of today's products would have seen the light of the day in the Indian market.

Government policy: Government policies can also encourage or foster new product development processes. For example, a government policy encouraging competition can motivate firms to launch new products.


Related Discussions:- Factors contributing to new product development

Agencies working for competitors, Advertiser must avoid giving his advertis...

Advertiser must avoid giving his advertising work that agency that handles the advertising work of his competitor. For the reason that in that case ad agency mayn't be in a positio

What is swot analysis?, SWOT Analysis is a strategic planning method used t...

SWOT Analysis is a strategic planning method used to assess the internal & external environment in which a company operates and competes. Internal environmental factors are classif

Distinguish between visible and non-visible cultures, Each country or regio...

Each country or region has a specific culture which is due to similarities in religion, language, beliefs and values. This could result in a "cultural challenge for international m

Tutor marked, factors which decide the broad area of scientific activity

factors which decide the broad area of scientific activity

Determine the material price variance, Question: The Kaiserburger fast-...

Question: The Kaiserburger fast-food operates to the following pre-determined standards: Raw material 50 kg @2.5 125 Direct labour 14 hrs @ 4.75 66.50 The A

What is the role of remote login considerably, What is the role of Remote L...

What is the role of Remote Login considerably? Remote Login: A login, which permits a user terminal to links to a host computer through a network or direct telecommunicat

Use of celebrity endorsers, The use of Celebrity Endorsers: Your major...

The use of Celebrity Endorsers: Your major headings should include the following: • Title Page • Table of Contents • Introduction • Literature Review • Analysis • Future Re

Corporate socil responsibility, what are your views of targeting of a produ...

what are your views of targeting of a product of children in todays world in case of ethicist?

HENRY ASSAEL MODEL, Q-2 Explain Henry Assael Model of buying decision beh...

Q-2 Explain Henry Assael Model of buying decision behaviour along with the diagram”.

Core concepts, what are the core concepts of marketing

what are the core concepts of marketing

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd