What is the full form of "NPD"?
A. New Product Development
B. Next Purchase Demand
C. National Public Demand
D. Narrative Project Document
Answer: Option A
Solution(By Examveda Team)
In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market.Related Questions on Marketing Abbreviations
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