{"id":6016,"date":"2020-10-07T21:28:32","date_gmt":"2020-10-07T19:28:32","guid":{"rendered":"https:\/\/www.intraders.org\/news\/?p=6016"},"modified":"2020-10-20T16:54:51","modified_gmt":"2020-10-20T14:54:51","slug":"%f0%9f%94%b9new-product-development","status":"publish","type":"post","link":"https:\/\/www.intraders.org\/news\/ot\/%f0%9f%94%b9new-product-development\/","title":{"rendered":"\ud83d\udd39NEW PRODUCT DEVELOPMENT:"},"content":{"rendered":"\n


The New Product Development(NPD) is the process of bringing a new product to the marketplace. Your business may need to engage in this process due to changes in consumer preferences, increasing competition and advances in technology or to capitalize on a new opportunity.
Innovative businesses thrive by understanding what their market wants, making smart product improvements and developing new products that meet and exceed their customer\u2019s expectations.
\ud83d\udd38NEW PRODUCT CAN BE: –
\uf0fc Products that your business has never made or sold before but have been taken to market by others.
\uf0fc Products improvements or innovations created and brought to the market for the first time. They may be completely original products or existing products that you have modifies and improved.
\ud83d\udd38NEW-PRODUCT DEVELOPMENT PROCESS: –
Major Stages in New Product Development are mentioned below:
\u2714\ufe0fIdea Generation;
\u2714\ufe0fIdea Screening;
\u2714\ufe0fConcept Development and Testing;
\u2714\ufe0fMarketing Strategy Development;
\u2714\ufe0fBuying Analysis;
\u2714\ufe0fProduct Development;
\u2714\ufe0fTesting Marketing;
\u2714\ufe0fCommercialization;
\ud83d\udd38NEW PRODUCT DEVELOPMENT STRATEGY: –
Two ways to obtain new products
1.ACQUISITION: It refers to the buying of a whole company, a patent, or a license to produce someone else\u2019s product.
2.PRODUCTS DEVELOPMENT: It refers to original product\u2019s improvements, modifications and a new brand from the firm\u2019s own research and development<\/p>\n\n\n\n

SACHIN PAL
(BBA, 3rd SEM, MORNING,SECTION-B)<\/p>\n\n\n\n

Be Our InTraders\u2019 Author for Free of Registration to InTraders\u2019 Conferences<\/a><\/h3>\n\n\n\n
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http:\/\/www.intraders.org<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

The New Product Development(NPD) is the process of bringing a new product to the marketplace. Your business may<\/p>\n","protected":false},"author":2619,"featured_media":6018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yst_prominent_words":[4894,1163,4890,800,769,4033,890,4074,4889,4892,1996,4826,4020,3601,4888,4891,4887],"class_list":["post-6016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ot"],"_links":{"self":[{"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/posts\/6016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/users\/2619"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/comments?post=6016"}],"version-history":[{"count":2,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/posts\/6016\/revisions"}],"predecessor-version":[{"id":6023,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/posts\/6016\/revisions\/6023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/media\/6018"}],"wp:attachment":[{"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/media?parent=6016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/categories?post=6016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/tags?post=6016"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.intraders.org\/news\/wp-json\/wp\/v2\/yst_prominent_words?post=6016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}