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In what way do patents protect businesses and product development in a market economy?
It prevents competitors from legally imitating a product for a period of time.
What are the advantages and disadvantages of new product development?
advantages: - new to the market/ fresh opportunities - competitors may have reached a declining phase, giving your product an advantage - knowing the existing competitors and there over all market share and strategy's disadvantages: - competitors- dominance in the market - risks on failing to achieve sales and the product being unsuccessful
What are direct competitors?
Direct competitors are competitors that affect a company directly. For example, Walmart's direct competitors would be Target and Meijer.
How do technology affect new product development?
Technology affects new product development in positive ways. This is because as new technology emerges, more products are developed for use.
What is competitive analysis?
Competitive analysis is the process of assessing and analyzing the comparative strengths and weaknesses of competitors; may include their current and potential product and service development and marketing strategies.
Who are the competitors for Milo?
The competitors of Milo are other malt product selling companies that have a same range of pricing as Milo.
Product development and launch?
Effective market research is crucial to pitch the new product to the customer. The customers are usually having questions about the product and you must have convincing answers. Before product development or product launch companies must get answers to the questions like - How do your competitors price their products and services? What kind of offers and deals do they offer? Is there any specific time in which the demand for the product surges? The deeper the analysis of these facts the stronger will be the strategy you formulate for the product without going through any trials and errors.
What are the various factors that affect the pricing of a product?
the pricing of a product is largely depended on the two main factors : - 1. Internal like cost of production profit margin etc 2. External like type of market, general economic conditions, competitors, nature of the product etc.
How may the engineer manager meet the threat of a competitors product?
To meet the threat of a competitor's product they need to focus on the price of their product,
What is a selling product below cost to drive competitors out of the market?
This dick
Where is it possible to learn about the product development process?
It is possible to learn about the product development product at your local factory. Ask the manager nicely to have a tour in the product development lines.
How does daycare affect a child's development?
it does not affect a child's development.
