what is an example of product development?
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Following are some common examples of product development. Packing wheat flour in retail bags for household consumption. Packing cooking oil in retail pouches for household consumption. Converting land line phones into wireless handsets for easy portability and full-time access to communication.
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Product examples in the maturity stage are desktop and laptop computers.
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['Lack of product uniqueness: Any product that does not satisfy a unique need of consumers, fails to dislodge more established brands available. ... ', 'Poor planning: ADVERTISEMENTS: ... ', 'Poor timing: ... ', 'Misguided enthusiasm: ... ', 'Product deficiencies:']
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['Idea Generation and Mobilization. New ideas are created during idea generation. ... ', 'Advocacy and Screening. Not all ideas are worth implementing. ... ', 'Experimentation. ... ', 'Commercialization. ... ', 'Diffusion and Implementation.']
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A product development strategy is a product-market strategy whereby an organization creates new offerings for existing markets innovation, product augmentation, or product line extensions.
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Selling a product at or below cost to lure customers in and drive other sales is an example of product-line pricing. A restaurant, for example, might offer a low-priced entrée with the purchase of a drink and dessert that have higher profit margins.
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A product's life cycle is its progress from when it is created to when it is discontinued. There are four stages in the cycle, which are development, growth, maturity, and decline. The product life cycle helps business owners manage sales, determine prices, predict profitability, and compete with other businesses.
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A product designer is responsible for the design and development of consumer products. Duties of this position include improving existing product designs and analyzing working concepts launched by competitors of similar products to match quality and performance.
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The product life cycle is the process a product goes through from when it is first introduced into the market until it declines or is removed from the market. The life cycle has four stages - introduction, growth, maturity and decline.
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['Understanding customer expectations of and needs from a product.', 'Developing quality control processes.', 'Designing product specifications.', 'Ensuring products are designed with adherence to legal and safety standards.', 'Supervising staff and monitoring production standards.']
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['Share your story. ... ', 'Know your product and its worth. ... ', 'Be open to feedback. ... ', 'Understand the product development process. ... ', 'Know Your Target Audience.']
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Examples of the features used to create augmented products might include free delivery or in-home installation of a service. Cosmetics companies tend to offer free makeovers and travel-size samples to augment their products.
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Development. Development is when findings of a research are utilized for the production of specific products including materials, systems and methods. Design and development of prototypes and processes are also part of this area. ... Engineering is utilization of these plans and research to produce commercial products.
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Examples of B2B companies Every B2C company requires certain products, services and professional counsel, so every B2C company generates B2B activity. One example of a traditional B2B market is in automobile manufacturing.
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['Product Design: Designing products ranging from biomedical devices to internal combustion engines to fuel-efficient motor vehicles, motors and appliances.', 'Research and Development: ... ', 'Manufacturing: ... ', 'Systems Management: ... ', 'Energy:']
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['Application and information submission.', 'Product evaluation.', 'Product testing in lab.', 'Manufacturing facility inspection, production confirmation and product sampling.']
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['Step 1: Generating. ... ', 'Step 2: Screening The Idea. ... ', 'Step 3: Testing The Concept. ... ', 'Step 4: Business Analytics. ... ', 'Step 5: Beta / Marketability Tests. ... ', 'Step 6: Technicalities + Product Development. ... ', 'Step 7: Commercialize. ... ', 'Step 8: Post Launch Review and Perfect Pricing.']