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Review:

Product Development Strategy

overall review score: 4.5
score is between 0 and 5
Product development strategy refers to the plan and approach used by a company to develop new products or improve existing ones.

Key Features

  • Market research and analysis
  • Idea generation and screening
  • Prototype development and testing
  • Commercialization and launch
  • Continuous improvement

Pros

  • Helps companies stay competitive in the market
  • Encourages innovation and creativity
  • Guides the product development process efficiently

Cons

  • Can be time-consuming and resource-intensive
  • Success is not guaranteed, as market conditions may change unexpectedly

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Last updated: Sat, Feb 1, 2025, 08:14:16 PM UTC