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new product developement
Before a product is being put on shelf for sale, it must have been through new product development process. The research and development ( R & D ) department holds the responsibility to perform this eight-stages process. According to Kotler & Armstrong ( 2001 ), the main purposes for this process are to develop new products, improve existing product and modify products. The first stage is idea generation. “ This is the systematic search for new-product ideas.” ( Kotler & Armstrong, 2001, p.337 ).
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