Product Development and Standardization Article

Product Organizing and Standardization

Product

2. Something produced through labor, thought and growth.

2. It is just a set of touchable physical and chemical characteristics assembled within an identifiable type.

New Product

* It can be a replacement unit product for a few but imitative to the other.

Classification of recent Product

1 . Innovative Product

* These types of product were created after realization of an unanswered need in the market that has not recently been fulfilled simply by any substitutes.

2 . Substitute Products

2. Those with significant difference from existing products.

three or more. Imitative Items

* These are generally product fresh to the imitating company however, not from the other companies.

Product Planning and Creation

* Methodical process to get originating, producing and evaluatingnew product ideas.

Steps in Product Development

1 . Idea Generation

2 . Screening of Ideas

three or more. Formal Business or Monetary Analysis

4. Product Development

a few. Test Promoting

6. Commercialization

Stage inside the Product Life Routine

1 . Advantages Stage

* Stage if the product is launched in the market.

installment payments on your Growth Level

* Once sales and profit maximize.

3. Maturity Stage

* Sales and profit learn to decline.

4. Decline Stage

* Because new is available in, they change the old types.

Reasons Why Cool product Fail

1 ) Inadequate market analysis

installment payments on your Product insufficiencies

3. Insufficient effective industry effort

some. Competitive strength and response

5. Poor timing of introduction

6. Technical or production challenges

Possible Strategies to Avoid Product Failure

1 . Strengthening new product planning

installment payments on your Better advertising research

several. Improved screening process and evaluation of ideas and merchandise

Brands

* Is a phrase, mark, symblol, or a combination of them used to identify the marketer's product or resource. Brand name

5. Is a thing that can be vocalized or voiced

Trademark

* Brand register under the...



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