various stages involved in satisfying a customer’s need

May 29th, 2015
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Abilene Christian University
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Plant layout techniques apply to the case where several physical means have to be located in a certain area, either industrial processes or services.

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Product development takes place, works or functions as under:1. Creation of an entirely new product or upgrading an existing product by exploring all possibilities and outcomes.2. Innovation of a new or an existing product to deliver better and enhanced services to end-users.3. Continuous improvement of a new product or enhancing an existing product by giving preference to satisfy the demand of end-users.4. Enhancing the utility of a new product or upgrading features of an existing product, for the personal and/or commercial use, to expand the defined goal (objective).Product development involves risk of investing precious time, money (capital) and intellectual resources. Therefore, it is necessary that it is well-planned.A good product development helps to:1. Create new business opportunities and bring growth.2. Boost productivity and profitability of the entrepreneurs.3. Enhance the satisfaction levels of the consumers.PRODUCT INTRODUCTION or product launchProduct introduction is a business process through which a new product is launched, debuted or published in the market for general users and or businesses.For example, a software development company may introdu

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