New Product Development: A Process of Succession 1 | Page 3

Technicalities, Development and Commercialization:
Product development technicalities should be error free. Since the production, marketing and
finance department works interchangeably, one should have updated and easy to use software. It
includes preparation of database, server resources estimation, automated logistics planning and
also beta testing.
With complete monitoring of the process, the product gets mainstream. It is highly important to
keep the supply with respect to consumer demand. Product awareness through advertising will
help attract larger audience.
New product development requires extreme hard work and determination. Even then it can
possess errors and encounter loss. However, reinventing the strategies can help the process
remarkably.

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