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product development is that of a highly dispersed process that capitalizes on the skills and insights of people and organizations spread throughout the entire world. However, the benefits of dispersion come at a cost.
Because the next step is expensive and time-consuming product development, critical use of business analysis is essential to eliminate marginal items. Product Development. Product development converts a product idea into a physical form and identifies a basic marketing strategy. It involves product construction, packaging, branding, product positioning, and attitude and usage testing.