Description
A ‘Product’ is an article, item, or substance that is produced, manufactured, or refined and is made available to the customer to be purchased. The price that can be charged for the product depended upon the market, the quality, the marketing and promotions, and the market segment that is focused on.
Each product is manufactured at an expense which is known as its ‘cost’ and each is sold at a price more than its cost to make a profit.
The following objectives are included in this Presentation:-
- Explain What is a ‘Product’
- Explain the Need for Product Planning and Development
- Explain the Product Life Cycle Concept
- Explain What is meant by Product Development
- Describe the Product Development Process
- Explain Why Product Planning and Development Team
- List the Factors for New Product Development
- Explain Challenges in New Product Development
- Explain What is meant by Product Design
- List the Factors Affecting Product Design
- Explain Elements of a Good Product Design
- Explain the Product Design Process
- Explain What is meant by Process Design
- Explain What is meant by Process Management
- Explain the Elements of Good Process Design
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