NEW PRODUCTS-What separates WINNERS LOSERS AND DRIVES SUCCESS WHAT

ASSAY
INTRODUCTION

The new product development is carried out in the field of business, engineering and design, is the whole process of creating and bringing a new product to market. Those responsible for marketing consider new product development as the first step in managing the product life-cycle management. (FOUNDATION, 2016)
Today globalization and high competitiveness, is the main enemy of a businessman, as necessary to address be alert to the demands and expectations of consumers.
To ensure business success, it is important to make use of various techniques and tools, such as market research, as it can detect skills, prices of good and the right distribution channels, outlets well , and the necessary publicity to be used for product introduction.

DEVELOPMENT

The new products are essential for growth. Today, more than ever, we hear the phrase “innovate or die”, therefore, depending on the business goals for the strategy geared towards innovation in developing new products is decided. (Garcia, 2010)
The product tends to be mainly composed of some physical and intangible characteristics that meet or attempt to meet consumer needs for which must correspond to the idea of ​​expected profit.
One way to achieve success with the introduction of a new product is that the company has an area that is responsible for the research and development of new products. This should investigate the tastes and preferences, which helps reduce the risks and uncertainties that has the market. This may also help the product life-cycle management is not much shortened compared to recent years mainly by the behavior of the plaintiffs.

CONCLUSION

- When developing a new product, this will be linked with some habits in purchase intent and preferences the customer will acquire throughout.
- A market increasingly segmented and more demanding consumers, carry the company to focus a percentage of their profits to research and development of its product or expansion of new product lines.
- Some consumers have buying habits and preferences that stand, which makes the companies seek to insert new products or improve a product, with some qualities that differentiate for this to wake purchase intent among consumers.
- Innovate or die