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Why the need for new product development?

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Wiki User
07/30/2010
  • Shorter product lifecycles
  • Increasing technological capabilities
  • Increasingly competitive Markets
  • Grow brand loyalty
  • Diversify into growth areas
  • Increase Market share
  • Production and Research and Development Strategies
  • Shorter product lifecycles
  • Increasing technological capabilities
  • Increasingly competitive Markets
  • Grow brand loyalty
  • Diversify into growth areas
  • Increase Market share
  • Production and Research and Development Strategies

Requirement of customers , market competion, new ideas , removal of problems with previous proucts , new technology advatages and failure of previous products