Product and Service Development

Introduction It is vital for a p arntage 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 kick downstairs modern ingatherings and serve from cadence to conviction. Product and table service development has been important in the erstwhile(prenominal) and its get increasingly important in todays highly matched business world as marketplaces are 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 triumph but also for commercial survival. In other words, if a company does not modify its wareions 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 products and services. Successful product and service development keeps a impregnable one-step ahead of competition as swell up as help to earn higher profits. For e.g. (Article: A) Nokia is trying to project its feet into a bleak market by developing a mobile-gaming device called N-Gage which can be used as a mobile peal as well as radio (Bluetooth enabled) gaming device. If successful, Nokia will be first mobile headphone makers to offer wireless-mobile gaming device.

Thus, by innovating such products Nokia is trying to appurtenance advantage over competitors (Slack:2002, Pg:392), especially in gaming market. Companies are competing not only by developing totally new products or services but a lso by enhancing their participating produ! cts & 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 long time 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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