Product Development

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Product Development

Product development covers the complete process of bringing a new product to the market. Transformation of a market opportunity into a product available for sale. A good understanding of costumer needs and wants, of the competitive environment and of the nature of the market represents the top required factor for the success of a new product. Cost, time and quality are the main variables that drive customer needs.

Aiming at these three variables, companies develop continuous practices and strategies to better satisfy customer requirements and to increase their own market share by a regular development of new products there are many uncertainties and challenges, which companies must face throughout this process.