Product development strategy is a core for manufacturing businesses, and remains a focal point from where the growth of an organization propagates. Devising a sound strategy to develop product for the right market and at the right time is what makes businesses successful in fiercely competitive environment.
As such, the pursuit of manufacturing right products in the market has led to the growth of manufacturing technologies and tools that attempt to improve the product design and development process.
The phenomenon however remains the same – understanding the market requirements, collecting information, developing a concept, producing a prototype and improving the design before final launching.
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