Explain the term new product development.

      

Explain the term new product development.

  

Answers


Lellah
This is the development of original products, product modifications and new brands through the firm’s own research and development efforts. The process involves seeking and screening new product ideas, analyzing their commercial feasibility, developing and test marketing, launching the fully developed product ,then monitoring and evaluating its initial progress.
Lellah answered the question on November 5, 2021 at 10:07


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