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

How internet is beneficial for marketing communication, How internet is ben...

How internet is beneficial for marketing communication The Internet is a distribution channel and communication medium which enables consumers and organisations to communicate

Describe total relationship marketing, Question: a) What is loyalty in...

Question: a) What is loyalty in a service context and how can firms benefit from a price premium with loyal customers? b) Describe total relationship marketing. How would y

What is the significance of distribution channel, What is the significance ...

What is the significance of distribution channel? In order to know the marketing channel, this is important to know the reasons for emergence of distribution channels. The main

Determination of interest rates, Question 1: (a) ‘The function of the...

Question 1: (a) ‘The function of the financial system is only to channel funds from the surplus units to the deficit units'. Discuss. (b) How far can the liquidity pref

Explain the microsoft dynamics crm case resolution process, Question 1: ...

Question 1: (a) Microsoft Dynamics CRM system can be used to meet the needs of Customer Support and Product Support department. Explain the main modules in the Service sectio

Shopperstop, draw the Typical Profiles Of Shoppers Stop Customer Segments ....

draw the Typical Profiles Of Shoppers Stop Customer Segments .

Explain ethical aspect of advertising, Q. Explain Ethical Aspect of adverti...

Q. Explain Ethical Aspect of advertising? Ethics are ethical principles are values that govern the action of individual or group. It is a branch of social- science which assist

Growth in media and increase in industrialization by ads, Q. Growth in medi...

Q. Growth in media and Increase in industrialization by ads? Growth in media: - Earlier extremely less media sources were available to advertisers for communicating with targe

Ambush marketing, Ambush Marketing is a purposeful attempt by a business o...

Ambush Marketing is a purposeful attempt by a business or brand to relate itself with an occasion (often a sporting event) so as to gain some of the advantages related with being

Shoppersstop, Draw the typical profiles of shoppers stop customers segments...

Draw the typical profiles of shoppers stop customers segments

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