Product and Service Development

Introduction It is vital for a business to have a capacious future vision, a vision to be a prospered leader in which eer field it operates. To be a self-made leader, company needs to civilize modern ingatherings and serve well from cadence to while. Product and service development has been important in the erstwhile(prenominal) and its getting increasingly important in todays highly matched business world as commercializes argon becoming fragmented, rival is getting stronger and harvest-time life cycles are getting shorter than ever (Slack:2002, Pg:392). Product and service development has become essential non only for mercenary supremacy but also for commercial survival. In other words, if a company does not modify its harvest-times or services from time to time then its rivals rump outpace it and takeover the market control. Competition Competition provides a powerful incentive to develop productions and services. Successful product and service developme nt keeps a unwavering one-step ahead of competition as swell up as help to earn higher profits. For e.g. (Article: A) Nokia is trying to draw its feet into a unsanded market by developing a mobile-gaming device called N-Gage which can be used as a mobile peal as well as wireless (Bluetooth enabled) gaming device. If successful, Nokia will be first mobile predict makers to offer wireless-mobile gaming device.

Thus, by innovating such products Nokia is trying to humanist advantage over competitors (Slack:2002, Pg:392), especially in gaming market. Companies are competing not only by developing totally new pro ducts or services but also by enhancing thei! r mobile products & services as smallest change in product or service can have an impact on competitiveness (Slack:2002, Pg:425). For instance (Article: B) Microsoft entered into gaming market couple of old age ago by innovating XBOX game console. Microsoft didnt enjoy the success of this product up to full extent because Sony PS2 was... If you want to get a full essay, order it on our website: BestEssayCheap.com

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