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Product Development Strategy

A product development strategy focuses on developing new products for currently served markets and customers. The focus is often on products/services related to current offering. Sometimes quality variations or new models or sizes of products are developed. As part of a product development strategy, a company may emphasize getting a product to market quickly, developing a product that can be sold at the lowest cost, or developing a product that has the highest level of product performance, or developing a product with high levels of product quality and reliability. In some situations, product development is constrained by a development budget.



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