The entire cycle for a new product from concept through manufacturing including design, engineering, materials selection, component selection, manufacturing process selection, and documentation.
the creation of new or improved products to replace existing ones. p. 250
A strategy for company growth by offering modified or new products to current market segments.
improving an existing product or developing new kinds of products
Developing improved products for current markets.
Product Development is the discipline of building and marketing products. It is not just the technical development but the development of plans, operational processes, and marketing strategies.
The term applies to the combination of capabilities, organizing approaches, and processes through which a business conceives, designs, and introduces into the market new salable products and services on an ongoing basis.
The process of creating new products to serve the needs and wants of customers who are already buying a company's products.
The phase in which the organisation determines if it is technically and financially feasible to produce a new product. p. 301
A strategy of increasing sales by improving present products or developing new products for current markets. p. 664
A growth strategy in which the firm develops new products for existing markets.
The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product.