New Products development is a simple concept. It is the Conversion of customer need to a reality based solution, creating the tangible product or service from the intangible idea, Creation of new wealth. To success in implementing new products development efforts generally require significant resources and the opportunities in the market. Because of the high risk of failure in implementing new products, it is important to know why new products development is important to companies.
‼️EXPLANATION‼️
Why is it important to keep creating new products?
By manufacturing new products, a firm can meet seasonal requirements of customers in the market. Customers are satisfied due to matching products in each of the seasons, and company can get reasonable business. Creativity and innovation is an efficient way to attain more market share or sales.
Answers & Comments
✔️ANSWER✔️
‼️EXPLANATION‼️
Why is it important to keep creating new products?
By manufacturing new products, a firm can meet seasonal requirements of customers in the market. Customers are satisfied due to matching products in each of the seasons, and company can get reasonable business. Creativity and innovation is an efficient way to attain more market share or sales.