For every company to survive, it is imperative to create new products on a regular basis. Technology changes very fast, and so is the taste and requirement of people. Creating new products helps the company maintain market share. However, it is important that the product you create has new features and uses the latest technology. There are certain steps that need to be followed to ensure that the product is successful and has a market share. Some Basic Steps:
1. Idea Generation
The idea must be innovative, fresh and commercially viable.
2nd Market Research
People's needs and needs must first be considered. Target people who are planning a product development. Or the product you created does not find enough buyers.
3rd Identify the materials or resources needed to create the product.
4th Analyze the time needed to create the product.
5th Determine the desired result
Setting the target helps you design the right way, as it can be used as a product creation plan.
6th Set the deadline for when the product is being manufactured.
7th The product should be tested before placing it on the market.
8th Pricing of the Product
The product must be based on the affordability of targeted consumers.
ninth Effective Advertising
Even a well-designed and cost-effective product can be a bug if it does not properly promote. You can advertise in print media, on the internet or through free sampling.
10th The product you create should be sold and feedback should be provided to improve product features on the basis of feedback and later versions.
Source by sbobet