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  • NPD Definition & Importances

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    norsyahida johori
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    New product development is the process by which entrepreneurs design and create new products or services to sell to customers. It is important for company growth and survival, as introducing new products allows companies to compete in existing and new markets and defend against competitors. An effective strategy is needed as technology advancement shortens product life cycles and increases competition complexity.

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    New product development is the process by which entrepreneurs design and create new products or services to sell to customers. It is important for company growth and survival, as introducing new products allows companies to compete in existing and new markets and defend against competitors. An effective strategy is needed as technology advancement shortens product life cycles and increases competition complexity.

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    6 views3 pages

    NPD Definition & Importances

    Uploaded by

    norsyahida johori
    New product development is the process by which entrepreneurs design and create new products or services to sell to customers. It is important for company growth and survival, as introducing new products allows companies to compete in existing and new markets and defend against competitors. An effective strategy is needed as technology advancement shortens product life cycles and increases competition complexity.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 3

    NEW PRODUCT

    DEVELOPMENT
    ENT600: TECHNOLOGY ENTREPRENEURSHIP
    DEFINITION OF NEW
    PRODUCT
    DEVELOPMENT
    Process by which
    entrepreneur designs and
    create new product/service
    that will be sold to
    customers
    THE IMPORTANCE OF NEW
    PRODUCT DEVELOPMENT STRATEGY FOR
    GROWTH
    • Introducing new
    02 products to existing
    markets
    • Introducing new
    products to new markets
    FOR SURVIVAL
    • As a platform for the 01
    company to compete TECHNOLOGY
    • Companies face threat of ADVANCEMENT
    losing market share
    when competitors come 03 • Competition has become more
    up with their new intense as technology products
    products become more complex and the
    technological product life-cycle
    getting shorter

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