Business Finance
Why is the development of an entire product line critical to Preserve’s growth a

Question Description

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  • Why is the development of an entire product line critical to Preserve’s growth and success?

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Final Answer

Product development is the process by which a company does one of two things: 1) creates an entirely new product that adds to an existing product line or occupies an entirely new niche; 2) modifies or updates an existing product. Successful product development is essential for any business if it hopes to exist for any length of time.

Why product development responding to Market Demand."Everyone in industry knows that new products are essential for viability: If we do not continue to grow, we die. To grow, a company must continue to learn research and to make a difference in its industry pioneer. Business, whether it sells waste management or interstellar communications, janitorial services or gene-splicing, lives through new growth not through clones of the past."


Ressy M (494)
UT Austin

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