Sample Essay

In business and engineering, new product development (NPD) is the term used to describe the complete process of bringing a new product or service to market.

2. Aims of Identifying Best Practice in NPD for a start up company:-

The  subsequent are the aims of identifying best practices in New Product Development for a start – up company:-

  1. To reduce the cost of the product by implementing the precise new product development techniques.
  2. To demeanor research on the product before its launch in the market according to the customer needs and wants.
  3. To use the efficiency obtain process performance data and related best practices in

      new product development.

  1. To support the use of benchmarking to facilitate new product development process improvement and the achievement of improved innovation, cycle time and technology transfer.
  2. The product can be completed on time and under the budget which is allocated for its development.
  3.  At last it should meet sales and cost goals which are imperative for the start up companies before to launch its product and extensive business plan should be drawn for that.

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