Asked by Deonna Hershey-Kisses on Jun 13, 2024
Verified
What three reasons account for the rapid change in new product development?
Product Development
The complete process of bringing a new product to market, from concept through design, creation, and introduction to consumers.
Rapid Change
Fast and significant alteration or evolution in a particular context, such as technology, society, or industry, often requiring prompt adaptation.
- Comprehend the factors accelerating the pace of new product development.
Verified Answer
NA
Neema AbrahamJun 16, 2024
Final Answer :
Three factors have led to the rapid increase in new product development:Faster and more economical transportation, which allows for products to reach consumers in a dramatically shorter period of time.Mass production, which makes products available to many more consumers as well as making them more affordable.The advent of electronic communication allows consumers to access information about products easily and enables news of a product to spread quickly around the globe.
Learning Objectives
- Comprehend the factors accelerating the pace of new product development.
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