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The Marketing Strategies and the Objectives Providing a Better Acceptance in the Markets - Research Paper Example

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The paper describes managing new product development as an important factor in a number of different aspects like costs, time and risks. Thus a number of studies have shown and highlighted that an organised approach to this would prove to be very beneficial for the companies…
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The Marketing Strategies and the Objectives Providing a Better Acceptance in the Markets
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Extract of sample "The Marketing Strategies and the Objectives Providing a Better Acceptance in the Markets"

Download file to see previous pages Once there is a clarity in the main objective of the senior management, then this is used as a base for all employees within the company to work on finding newer opportunities that would meet up to the objectives that have been set down. There are a number of different steps taken within companies to bring out the best ideas from within the companies i.e. scientist, salespeople, marketers, etc. Thus some companies also use brainstorming as a technique to inspire and motivate the creation of newer ideas. This stage is where ideas are born, following which a screening stage is held. This will be discussed in the next section. This stage is where the ideas that have been perceived are checked for their commercial worth. There are a number of different methods that are followed by companies. Some companies also provide for checklists which allow for a better judgement of whether or not the product would be beneficial for the company and whether it should be accepted or rejected (Kotler, 2007). Here analysis is made to evaluate whether or not the product is in sync with the objective of the company’s objectives. Also, an analysis of whether or not the company will be able to produce and market the product is also analysed at this stage. Following the screening process, and once a product idea is considered to be worthy for investigations, the next step is to check whether the concept of the product would work well with the potential customers. This stage allows the customers to participate in the new product development at the early stages itself. ...Download file to see next pagesRead More
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