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<p style=”text-align: left;”>It is a more limited term but includes the technical activities of product research,engineering and design.Product planning is usually describing as “merchandising” and it covers both the existing and potential products.</p>
<p style=”text-align: left;”>Statement formation:</p>
<p style=”text-align: left;”>The first stage of the new products evolution begins with an idea for the product.</p>
New product development (NPD) is the complete process or bringing a new product to the market.
It is described in the literature as the transformation of a market oppurtunity into a product available for sale and it can be tangible or intangible
NDP is where an organisation involved in creating new products by identifying certain criteria of market as well business strategy.
The organisation would develop a new produce and tgat would be sold to tge hands of consumer , this is process of innovating and creating a similar relatd product or completely new product by tge organisation in motive to have profit in it
There are different stages in new product development which include concept development n screening,idea generation n testing,synthesis testing,product development n implementation
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