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New product development. New product development (NPD) or product development in business and engineering covers the complete process of launching a new product to the market. Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design.
Market development. Market development is a growth strategy that identifies and develops new market segments for current products. It involves marketing existing products in new markets. [1] A development strategy targets non-buying customers in currently targeted segments. It also targets new customers in new segments.
Business development is to be thought of as a marketing tactic. The objectives include branding, expansion in markets, new user acquisition, and awareness. However, the main function of business development is to utilize partners in selling to the right customers. Creating opportunities for value to be ongoing in the long term is important.
v. t. e. A generic lifecycle of products. In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. [1][2] PLM integrates people, data, processes, and business ...
Commercialization. Commercialisation or commercialization is the process of introducing a new product or production method into commerce —making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even ...
Marketing management is the strategic organizational discipline that focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of marketing resources and activities. [citation needed][1][2][3] Compare marketology, [4] which Aghazadeh defines in terms of ...
Ideation (creative process) Ideation is the creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic unit of thought that can be either visual, concrete, or abstract. [1] Ideation comprises all stages of a thought cycle, from innovation, to development, to actualization. [2]
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior. This involves specifying the data required to address these issues, then ...