Innovation in new product development ?

Question

Accepted Answer

Innovation in new product development is crucial for staying competitive and meeting customer needs.

Innovation drives the creation of unique and valuable products.
It involves identifying market trends and customer demands.
Innovation can come from various sources such as customer feedback, market research, and internal brainstorming.
It requires a culture of creativity, collaboration, and risk-taking.
Successful innovation leads to improved customer satisfaction and increased market share.
Examples of innovative new product development include Apple's iPhone, Tesla's electric cars, and Amazon's Echo devices.

Accepted Answer

Understanding the needs as well as creating the needs for new market development, Market research

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