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Product Service Design Lesson 4

Product Service Design Lesson 4

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Published by Yash Ranga

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Published by: Yash Ranga on Dec 31, 2012
Copyright:Attribution Non-commercial

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02/07/2015

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Product & Service Design
 
Relevance of new productdevelopment
For many industries new product development is now the single
most important factor driving a firm’s success or failure
 
Today’s climate of new product development is characterized
by1.Increased domestic and global competition2.Continuous development of new technologies that makeexisting products obsolete.3.Changing customer requirements that truncate product lifecycles
 
4.Rising development costs5.Increased dependence on external organizationFor many industries ,product design and developmentcapability aimed at producing a continuous stream of newinnovative products is turning out to be a very powerfulcompetitive weapon

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