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Exploring the Marketing Mix: New Product Development

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Prepare a journal entry for New Product Development and write a brief analysis on the importance and risk involved in new product development. The various stages involved in the process are also to be described briefly.
Solution
This is similar to a journal entry, on New Product Development. The importance and the rationale behind the organizations investing heavily in new product development are analysed. The various stages of NPD (Ne Product Development) are also discussed.
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