New Product Development Strategy Used in Market Research

The New Product Development (NPD) process includes conceptualizing, formulating and delivering new product in a company. Every new product is based on the results of the market research. Market research provides a definite and well-drawn path for the new product that has to be launched. It’s the marketing managers who formulate the marketing strategy for NPD. Marketing managers take help from subordinates, product development managers and market research managers in order to predict the demand for the product and services proffered by the company. They also provide you with information on your competitors, their products and pricing. These managers also help the client companies to identify opportunities and potential markets (wholesalers, government, market resear View the rest of this article