Chapter 10: Developing and Managing Products
This chapter discusses the importance of new products. New products are important to sustain growth, increase revenues and profits, and replace obsolesce items. We would all get bored and never succeed if there were never new products introduced.
New-Product Development Process:
All of the steps are important in introducing a new product.
PRODUCT LIFE CYCLE (PLC)-
1. Introductory Stage
2. Growth Stage
3. Maturity Stage
4. Decline Stage
The stages are pretty self explanatory; each product gets introduced and after they are popular they faze out.
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