Product development... Is it important?

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According to businessdictionary.com, product development can be explained as the creation of products with new or different characteristics that offer new or additional benefits to the customer. It may also involve modification on the product, or formulation of entirely new product that satisfies a newly defined customers market.

Many businessmen have now created a new product development, creating an added value within as to satisfy their existing market, and at the same time, invite new market to his products. In basic, there are several benefits that make product development important to some businesses:

- The needs and wants of the customers nowadays are dynamic

- The strength of the competitors creates the product lead to disappear

- To maintain the sales level also company’s profit

Without innovation, no development can be done, and the chance to grow may be less... James Dyson, a British inventor and the founder of Dyson company once quoted, “People buy products if they’re better.”

For more details on Product Development, please contact:

KIRTI PARKASH

+62 21 8378 3288

kirti.parkash@frontlinerinc.com