Product Development

PRODUCT DEVELOPMENT Introduction Technology is a key resource of heavy(p) importance for collective profitability and growth. It also has enormous importation for the well-being of national economies as well as world(prenominal) competitiveness. Effective management of technology links engineering, science, and management disciplines to sell the issues involved in the planning, maturation, and implementation of expert capabilities to shape and meet the strategic and operational objectives of an organization. The use of technology is an important compute in the process of a companys product development. return development is the set of activities beginning with the perception of a grocery hazard and ending in the production, sale and delivery of a product. It is often used in engineered, discrete, physical products such as television sets and automobiles. Product development is divided into four grades: 1. outset Stage The goal of the initiation stage is to identify a forward-looking business opportunity. Projects go through two phases in this stage: knowledge prebuild, and supposition development. At the knowledge prebuild phase, planning groups comprised of selling and design representatives match market opportunities and available technology.

The product motorcoach and the product designer analyze the market potential of the concept and develop draft specifications and plans for project management and investment. Senior corporate and divisional management evaluate the new business opportunity as a cost effective and innovative technological solution that could be developed with sustainable margins on cost, revenues, and technology. 2. rendering Stage Review of the product concept marks the end of the next major stage in the new product development cycle. During this stage, the product concept is defined, and marketing sets the context within which consolidation of design and manufacturing occurred. Commercial specification, outlining the... If you want to get a safe essay, order it on our website: Orderessay

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