MARKETING
9th Edition
ISBN: 9780324362084
Author: Lamb
Publisher: CENGAGE L
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Question
Chapter 11, Problem 2LO
Summary Introduction
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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