What characteristics of a new product will help it to move t

What characteristics of a new product will help it to move through the early stages of the product life cycle more quickly? Briefly discuss each characteristic—illustrating with a product of your choice. Indicate how each characteristic might be viewed in some other country.

Solution

Answer:

The characters of the new products are:

1. The product should be more acceptable to the customers as it should be base on their needs and provide graeater satisfaction to them.

2, The should be base on frugal innovation.

3. Product should be competitive and technology advanced.

4. The product should provide the benefits on the basis of GAP analysis of the market.

5. Product should be price competitive and good result of R and D.