The former is an old process whilst the latter is a new one.
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Technology affects new product development in positive ways.
This is because as new technology emerges, more products are
developed for use.
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The disadvantage of product development is that it can get costly because resources are required by the Research and Development department of the business; a lot of experiments and tests are also performed.
Secondly, product development involves a risk of whether the consumers will like the new features that have been developed/added to the new/existing product.
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what is meant by product led and market led new product
developmrnt approaches?