What is the purpose of developing new products?

[Shavkat]

Customers tend to be drawn to new things on a constant basis, and the advertising business happily supports this trend. People constantly desire improvement since new is always connected with something better.

 

[Sanjeev]

With the time requirement as well as the expectations of the customer change so there is always a need of developing new products.

 

[Springtime]

Developing new and better products to match with changing customer needs is the way to sustain business growth.

 

[cherry123]

it is provide new products to people especially if it is an alternative so that people can try another product out. infact for people to have an alternative

 

[Ebutech]

Customers tend to be drawn to new things on a constant basis, and the advertising business happily supports this trend. People constantly desire improvement since new is always connected with something better.

It's always good to develop new products or improve very well on the existing one, before people's preferences can tend to change at any given point in time.

 

[Magnus2022]

Customers are always skeptical about new products. New products need constant marketing and persuasion before customers start patronizing the product. A new product always find it difficul to penetrate the market.

 

[Heatman]

The simple truth is that customers always want something new and it's why they have eyes on new products. I think most of us are built that way.

 

[Suba]

The aim of product development is to provide maximum value for consumers, win company competition by choosing innovative products, modified products and having high value both in color design, size, and additional types of names on brands, such as Brand Names. Spicy level 2.

 

[Niyi Briggs]

To solve new problems. That's because the problems of human evolve day by day, we must develop new products to meet up with the evolving needs of humans.

 

[flower]

New products are often develop to meet new demands and it is highly essential for each and every individual to ensure that they develop new products.

 

[Reedex]

It is very essential to develop a new product so that you can increase your profit.

 

[uptrendfinancialsignal]

The major purpose of developing a new product is to meet a new market demand and for profitability.

 

[cherry123]

it is for the market to have diverse products that we can choose from. it is always good to put different things in place to have choices of it to work with.

 

[eldavis]

Change is constant. I am pretty sure we are all excited where ever there is a new update on the site you work on or the app we use. People get excited for new products cause they want the change.

 

[Starmix]

It's commonsense wise. Developing a new product means to make business known, to establish a good reputation and foremost to have no competitor of your new product unless share it to others with a pay.

 

[Bisolami]

It's commonsense wise. Developing a new product means to make business known, to establish a good reputation and foremost to have no competitor of your new product unless share it to others with a pay.

Developing products also means creating products and solutions to the services and products that people need in the community

 

[IB D]

You develop new products to expand your market. If you have a product that is already established, you might decide to develop a closely related product to support it. Like broilers first, then you add eggs.

 

[Heatman]

The major purpose of developing a new product is to meet a new market demand and for profitability.

This is very correct because from my observation, customers and never totally satisfied with one thing which is why they will always request for another thing that will always be new to them.

 

[IB D]

It helps to expand the scope of their business. A new product that is related to the established product is to satisfy the customer's taste for variety. Sometimes, it is just pure innovation.

 

[uptrendfinancialsignal]

It helps to expand the scope of their business. A new product that is related to the established product is to satisfy the customer's taste for variety. Sometimes, it is just pure innovation.

It is important to ensure that we develop new product to meet up with the new demands and follow the developmental trends.