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

Price, Price "The amount of money charged for a product or service, or...

Price "The amount of money charged for a product or service, or the total of the values that consumers exchange for the benefits of having or by using the service or product".

Consumer buying behevior , how to made the question for consumer buying be...

how to made the question for consumer buying behevior project

Evaluation of advertising media - magazines and journals, Q. Evaluation of ...

Q. Evaluation of advertising media - Magazines and Journals? Are one more form of print media. These are published regularly at regular intervals like fortnightly as well month

Strategic aspects in international human resource management, Question 1: ...

Question 1: Explain how effective management of expatriates is increasingly been recognised as a major determinant of success or failure for international businesses. Quest

What is lead generation in personal selling process, What is lead generatio...

What is lead generation in personal selling process? Lead generation: Identification of prospects is initial step in personal selling process. Organization produces the l

Characteristics of product oriented concept of marketing, Characteristics o...

Characteristics of old or product oriented concept of the marketing: Main characteristics of this concept of marketing are as follows: 1.      It stresses upon the produc

Shopeersstop, what are significant factors that have led to the success of ...

what are significant factors that have led to the success of shoppers'''' sto

Market segmentation and targeting, You are needed to complete the following...

You are needed to complete the following piece of work: 'Bodyproud Fitness' is a relatively new health and fitness company based in Huddersfield. The company was produced in res

Ten principles of reinvention , As per the Osborne and Gaebler, governments...

As per the Osborne and Gaebler, governments don't work well, since they are tall, sluggish, over-centralized, and preoccupied with diverse rules and regulations."We developed publi

What is the meaning of marketing concept, What is the meaning of marketing ...

What is the meaning of marketing concept? Meaning: Marketing concept means that the achievement of organizational goals based on determining the wants and needs of the tar

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