Question

2. What is the best type of new product development strategy: reactive or proactive? Explain your answer.

Answer 1

A product development strategy set out in master plan the aim for AIIMS the projects the resources and the constraints so that all involved in new product development are aware of the overall company policy for product development at this time. If the management wants integration of functional areas more creativity in the company or more efficiency in product development then the product development strategy can incorporate all of these into the overall aims.

New product development strategy is actually much more common than most people may think.this is the idea of a company going outside its existing business model or approach and developing new products for new market.unlike updating a product for existing marketing creating for enhancing a product for a new market requires steps similar to designing a brand new product.create a new product for a new market may include all or some of the following steps that are:-
Product analysis, product design, design documentation, prototyping and product production.which company is different in how they approach their product development strategy.a product development strategy provides the outline to position a company's product development projects as well as its process.it takes into consideration the company's capabilities as well as their competitors regardless of which path a company uses to take a product development strategy is critical to the ongoing growth and success of a company.

According to me e new product development strategy is proactive because do a more comprehensive undertaking then simply evaluing a product for an existing market adding new markets into a product development strategy can serve to stabilize a volatile product offering portfolio and depending on the new market. It may in turn create more opportunities for product evaluation than an existing market may offer.