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Development of a New Commodity/Product
This is one of the three approaches of intensive strategies. In this method, a company try to improve the sales and competitive position through various modification or improvements in the already existing product of the company. A large amount is spent as expenditures which are related to product development. This is because product development requires proper research and other development activities for improving and modifying commodity.
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Particular Guidelines for Effective Product Development Strategy
There are certain scenarios which would make product or commodity development approach a lot more useful. Below are mentioned a few guidelines for effective strategy:
These guidelines are followed by companies before implementing this strategy. Our Product Development assignment help gives more information about this approach.
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