New product design and development

Cards (2)

  • Factors that need to be taken into account

    Quality → in this market-orientated production, the customers will demand particular quality and certain attributes and features
    Supply Chain Management → may extend the range of supplies sought, and the timing or the volume of supplies
    Cost → determined through the quantity and type of inputs, time and energy ausined in processing. Value is directly related to cost but also include the customer’s perception of product utility, which is the usefulness and value that a product has from the consumer’s pov
  • Overall
    First arises from a specific approach to product development, in which the preferences of consumers are identified by market research and determine which products are designs and development
    Second arises from changes and innovations in technology that enable new, appealing products to be made because they use advanced techniques that give products greater functionality