There are seven (7) stages of new product development:
Source: https://www.netsolutions.com/insights/everything-about-new-product-development/
The key objectives of new product development include cultivating, maintaining, and increasing an enterprise’s market share by satisfying customer requirements.
Source: https://searchcio.techtarget.com/definition/product-development-or-new-product-development-NPD
New product development enables businesses to pursue new market opportunities, meet changing customer demands, maintain a competitive edge, pioneer innovative technology, and enhance brand reputation.
*Source: https://engineeringproductdesign.com/knowledge-base/new-product-development/
NPD content is being added. Stay tuned.
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