Product Development

   

Definition: Product Development is a strategy and function aiming at selling new products (services) in current markets.
It is one of the 4 growth strategies of the Ansoff Matrix (besides market penetration, market development and diversification).
PD strategies typically aim at selling other products to (regular) clients. These can be accessories, add-ons, or completely new products. Typically involves cross-selling and using existing communication channels.
PD as a function part of product management deals with:
- Customer Research
- Competitive Intelligence
- Industry Analysis, Trends
- Product Documentation
- Product Strategy


   
   

More on product management: B2B Products, Perceptual Mapping, Planned Obsolescence, Positioning, Product, more...



   

MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.

We love to keep things really short, but provide links to learn more about your subject and to similar concepts.





© 2021 MBA Brief - Last updated: 23-10-2021  -  Privacy   |   Terms