Monday 13 February 2012

Strategy to be used while developing a new product

Why some organizations are succeeding in developing new products and why some organizations failed in this aspect- this mainly depends on the strategies and systematic approach followed by the management. The major factors that should be considered in new product development are:
  • Adopting technology and innovation strategies  
  • Performing an effective stage-gate system 
  • Allocating the resources timely 
  • Having right people for the tasks, creating comfortable team structures and the employees’ commitment towards developing new product.
  • Managing the risks while developing products.

1 comment:

  1. In other words, you need to advertise and market the product. To do this you need to have made adjustments, assess costs and then make final pricing decision.


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