Design and marketing of new products pdf

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Please add a reason or a talk parameter to this template to explain the issue with the article. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market.

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 the process.