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Product Development

Today's Must Read
Peter Suciu
In just five years apps could be larger than the gross domestic product of many nations
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Tim Devaney - Tom Stein
Will employees lose weight if you pay them? Survey says no.
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Because the purpose of any business is to create a customer, the business has two - and only two - basic functions: innovation and marketing...
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We’ve been featuring a number of articles about Direct Response Television as of late. In case you’re unfamiliar with DRTV, it is a specific form of marketing in which products are sold on...
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But what about the Sources of Innovation? Drucker says there are four Internal Innovation Sources and three External ones....
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As more and more parents re-enter the work place the demand for quality child care providers has sky-rocketed. The business of child care offers entrepreneurs the opportunity to pursue a passion for child...
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For many ecommerce merchants, the idea of engaging in social media means setting up a Facebook Fan Page, securing a Twitter handle or posting videos on YouTube. While interaction on major social networks...
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What QuickBooks reports are on your wish list?
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By  | Filed In: Fast Food and Restaurants
The take-out and fast food industry in the U.S. continue to boom, despite related health risks. Yet perceptions about constitutes fast food are changing. According to a recent study by food industry consulting...
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One critical lesson from the the Japanese experience with Bullet Trains and particularly the MagLev technology is how to move technology out of the lab and into application so it can be sold...
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By Drew Stevens |  Filed In: Sales Prospecting and Sales Force
Individuals want difference and value, and attempting a new routine to cold calling might just be your recipe for success.
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We left the meeting dejected and disappointed. Because our presentation was cut short, some of our team members hadn’t even been able to deliver their portion of the pitch. We’d traveled so many...
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Marketing in all its forms is an essential part of small business growth. And whatever stage your business is at, really great marketing starts with an understanding of your target market and how...
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By Sarah Collins |  Filed In: Sales & Selling and Company Activities & Management
If you work hard to develop your own authentic selling style, your efforts will be handsomely rewarded with increased trust, greater customer loyalty, and more sales.
article
Jonathan Farrington
In many companies, very little systematic thought is given to the design of a sales training program. Very often one of the following fallacious schools of thought is encountered.....
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With growth in global networks, new markets have opened for small business.
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Jim Debetta is an expert in the retail and marketing industries, have amassed years of experience developing winning products and brands. Some of his former retailer customers include Target, Wal-Mart, Radio Shack, Sears,...
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Over the past several weeks, I’ve heard and read a lot about Ben Kaufman and his latest project, Quirky. The young entrepreneur has generated a lot of strong reactions, and I was curious...
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It's easy to get bogged down with all the challenges small business owners face. Here's a pick me up.
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Rieva Lesonsky
Recognizing that consumers are spending less these days, some franchisors are fine-tuning their message, emphasizing saving money by offering more DIY options.
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New On AllBusiness

Business Glossary

Definitions for: new product development
new product development

preparation for full-scale manufacturing of a product not previously offered by that marketer, including these activities: conceptualization; concept testing and approval; research and development; prototype testing; economic and market research; and decision making with regard to positioning, pricing, packaging, distribution, and promotion. A new product may be a minor or great variation on an existing brand, a true product innovation, or an imitation of a product already on the market. New product development is necessary to maintain market share because demand for most brands or products tends to decline over time. New product development is also a necessary response to new technology and changing market conditions. New product development may be handled by a dedicated department within the company or may be part of each brand manager's responsibilities.

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