The steps included in new product development process. A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want. The process of developing a new product to the market is known as new product development . The company might engage in the development of new product due to increasing competition, update in technology, or change in customer preferences.

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Chapter 11, Problem 2LO

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To discuss: The steps included in new product development process.

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

The process of developing a new product to the market is known as new product development. The company might engage in the development of new product due to increasing competition, update in technology, or change in customer preferences.

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