Business Ecosystem >>> Value-added Chain >>> Product Development
Product development is a set of processes of creating and bringing a new product to the market.
The processes of developing a new product go in two parallel flows:
The processes of applied research, solving inventive problems, and management of intellectual property are also associated with the processes of product development.
In order to produce and sell products, it is necessary to develop the production and marketing systems.
In order to reduce the cost of value chain creation, it is necessary to develop only the production system.
In order to improve product characteristics, it is necessary to perform a lot of product design and development operations.
In order to reduce costs, it is necessary to perform as few product design and development operations as possible.
In order to create new products, the company should invest in development of new products.
In order to reduce costs, the company should not invest in development of new products.
In order to produce the product, the company should perform all product development operations by itself.
In order to reduce costs, the company should perform as few product development operations as possible.
In order to scale up production, the product brand should be well-known.
In order to not waste resources on brand creation, the product brand should not be well-known .
In order to get the maximum revenue, the product development should focus on the customers at the upper end of the market.
In order to reduce the development costs, the product development should focus on the customers at the lower end of the market.
In order to solve a large number of product development tasks, the number of staff should be high.
In order to reduce costs, the number of staff should be low.
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