NEW PRODUCT DEVELOPMENT
\njˈuː pɹˈɒdʌkt dɪvˈɛləpmənt], \njˈuː pɹˈɒdʌkt dɪvˈɛləpmənt], \n_j_ˈuː p_ɹ_ˈɒ_d_ʌ_k_t d_ɪ_v_ˈɛ_l_ə_p_m_ə_n_t]\
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Development process for a new product or service. This development type is set as the preliminary step in product or service development. It involves steps in a protocol that must be completed before introducing the product to the market. New product development is essential to any business that must keep up with market trends and changes. Developing an item to compete with a specific product or service or improving an already established product are reason for new product development
By Henry Campbell Black
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].