Start with the Whys, not the Whats. Interrogate the reasons for embarking on new product development. Understanding this will provide a platform for the development process.
Developing new products can provide many business benefits, including:
- Helping to drive business growth.
- Meeting trade customers interest in proactive.
- Allowing entry into new sectors or markets.
- Extending presence in particular markets.
But bringing new products to the market successfully considering different tastes and geographical preferences is not simple.
Developing products for an international market is harder than creating and selling them to a local one. Thus, foreign markets information is needed as well as speed in understanding market’s particularities in order to avoid waste of resources. This is one of the true international success factors.
Our marketing people will be in charge of this very important task of collecting information, and transform it in new ideas/products/services.