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Product Development
Product Development
AND PRODUCTION
The creation of products with new or different characterstics
that offer new or additional benefits to the customer.Product
development may involve modification of an existing product
or its presentation ,or formulation of an enterily newproduct
that satisfies a newely defined customer want or market niche.
EXAMPLES
1.Proper product development ensures that the end product
that is tea(fresh tea) will support all requirements while
meeting all need required of particular type of product.
EXAMPLES
He though that the new concept the company had
chosen to display “FRESH TEA” for the new year was a
little over the top.
AIM OF PRODUCT DEVELOPMENT
1. Provide the good the market demand in time.
2. Adjust with the variation in quality required and charge
the price which the consumer is willing the pay after
ensuring reasonable profits for the organisation.
Our business related to tea company.
What do you mean by tea?
A hot drink made by infusing the dried crushed leaves of the
tea plant in boiling water.
method :-
BY LIMITATION- Product development by imitation consists of
marketing another product similar to one in the market.
BY INNOVATION OR INVENTION –Product improvement
consists or modification and improvement in the existing
quality,size,form or design of the existing product so that it may
appear almost like a new product.
BY IMPROVENT OR ADAPTATION-Product development by
adaptation refers to developing an improved product for an
already existing market.
CONCLUSION:
Our company produces large scale of natural tea which is liked
by customers and by the time its demand continously
increases.we are working on fulfill the demands of customer
and maintain the market value of “freshtea”.