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

Why does your subjects not have consumer behaviour, i need a literature rev...

i need a literature review written by you on a consumer behaviour . Please help I cannot send any email it says error

What is comprised in green or environmental marketing, What is comprised in...

What is comprised in green or environmental marketing? Green or environmental marketing comprised all activities designed to generate and assist any exchanges intended to sat

Algebra - systems of equations word problems, The sum of the digits of a ce...

The sum of the digits of a certain two digit number is 7. Reversing it''s digits increases the number by 9. What is the number ? I Know the number is 34, but I have to show my work

Test marketing & FMCG, explain the various approaches that are followed by ...

explain the various approaches that are followed by FMCG companies in test marketing.

Determine the cost based pricing, Determine the Cost Based Pricing Unde...

Determine the Cost Based Pricing Under this method, price of product is fixed by adding the amount of desired profit margin to the cost of product. If a specific soap costs the

Explain different levels of the term product, Question 1: A room at Mar...

Question 1: A room at Marriott in Vienna, Mc Donald`s French fries, a vacation package in Bali are all products. a) Show with relevant examples the different levels of the t

#title., what are the pricing objectives?

what are the pricing objectives?

Define advertising objective measuring advertising results, DAGMAR APPROACH...

DAGMAR APPROACH Definition: - Define advertising objective measuring advertising results. Hierarchy- of effective model 1) Awareness: - Making the consumer conscious

Methods of preparing advertisement budget, Q. Methods of preparing advertis...

Q. Methods of preparing advertisement Budget? Every advertiser sets apart a total of money to be spent on advertising which is referred to as advertising appropriation. The amo

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