Most product development activity is focused on derivatives and product improvement. This involves enhancing existing products, making incremental changes, or developing variations of current products to meet specific customer needs or to enter new market segments. These activities tend to have lower risk and can leverage existing brand equity and customer loyalty.
References:
Wheelwright, S. C., & Clark, K. B. (1992). Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. Free Press.
Ulrich, K. T., & Eppinger, S. D. (2015). Product Design and Development. McGraw-Hill Education.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit