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Product Development
Posted in Product development
By serrvstaff
Product Development
Product development is very important in the craft sector. It is the complete process of bringing a new product to market. Successful product development involves two parallel aspects:
- Market research and analysis
- Product design and production.
Continually developing new products is necessary for all businesses and handicraft organizations because the marketplace constantly demands new products and because products have a finite lifespan in the market. Product development is a strategic tool for opening new markets or expanding sales in existing markets.
This module covers the following topics: