Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consumer Oriented Product Development
It is important that new product development strategies are adjusted to identified needs in the market. This requires an appropriate methodology to translate consumers' choice or expectations into identifiable quality characteristics. Once this concept is formed it will be possible to provide detailed guidance for product development. Consumer oriented approach consists of five steps:
1. Identify the opportunity for new product 2. Design of the new product 3. Market testing of the new product 4. Launching the product in identified markets and 5. Life - cycle management. Opportunity identification stage concerns the definition of the best market segment to introduce the new product, and the generation of new product ideas. At the product design phase the plan of action is :
1. To identify the key benefits the product is to provide to the consumer 2. Positioning of these benefits versus competitive products and 3. Development of the product and marketing strategy. Purchasing pattern of the consumer, what they consider important in their choice behaviour and what they consider short - comings in present product supply provide insight into some basic issues of product development. Consumer perception and preference have to be carefully studied while formulating a new product. Market testing may involve segmentation to identify relevant subgroups of consumers that are homogeneous in terms of preference and purchasing behaviour. If the new product is promising, as judged by the testing, it is ready for commercial sale. With our understanding of the concept of product development and the factors which influence it, let us now learn the process i.e. the methodology of product development
What is the chemical formula for hard water?
Why +ve P.F. gives nuclear instability where as -ve PF gives nuclear stability ?explain .
#most wanted question..
Onion and Garlic Onions (A. cepa), and garlic (A. sativam), have been used in traditional and folk medicine for over 4000 years. Disorders for which both garlic and onions ha
how to write a lab report
Which of the following electron transition in a hydrogen atom will require the largest amount of: (1) From n-1 to n=2 (2) From n= 2 to n=3 (3) From n= ∞ to n=
Why are the lanthanides and actinides series call the f-block
which among the following species have the same no of electrons in its outermost as well as penultimate shell
Leibermann nitro test why we add concentrated acid
a) Write down the balanced reaction equation of the key reaction path. b) Which reactions can occur during further oxidation (except total oxidation) ? The us
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd