Transforming methods in the Product Development Process
The world is shrinking, and it is creating a buyer's market. The multitude of messages and the global media, in this interactive age, is contributing to a fragmented market. New product launches and innovations are just a city away, or maybe less. It is one universe.
Higher consumer awareness is elevating customer expectations. Quality, utility, fashion, aesthetic and brand value are hygiene. Customer is focused on value- latest technology, fashion, features, customized products and services. The consumer today is moving towards more discrete products. And due to fast changing world these products have increasingly shorter product life cycles.
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