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Natural Environment:
(1) Natural Resources: Business depends on natural resources. Raw material is one main part of these resources and firms are concerned with their availability, they require knowing whether there will be a lack in any of the decisive raw materials, they also require to know the trends governing on their cost. Besides raw materials, they are also concerned regarding energy, its availability along with cost.
(2) Ecology: Many Issues regarding environmental pollution, protection from wildlife &wealth are the factors concerned with ecology and government. is becoming active bargainer in such environmental issues.
(3) Climate: Firms with products whose demand depends on climate and firms depending on climate dependent raw materials will be specifically concerned with this factor. These firms have to know about the climate in depth and decide their production location and also marketing territories respectively.
QUESTION You work as an Assistant in the Product Planning Division of Gillette Co Ltd. You have been asked by your Manager to write a report, using examples from the company's
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Question 1: Critically examine the importance of product design, New Product Development (NPD) and explain the reasons for failures in NPD and how would you overcome them?
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A good or service an organization makes in quantity to sell on the open market is a product.
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