The reasons why there are often new product developments?
Nowadays, the dynamic nature of business environment offers only two options - be innovative, or die. New product developments seem to be necessary due to an enormous number of reasons.
The first and most important reason for any new product developments is consumer "needs and wants" continuously change. Firms should respond to these changes through their products and services. Otherwise consumers will switch to competitor products that satisfy their "needs and wants". For example, consumers are becoming more health conscious, this is forcing companies to introduce low sugar, salt and fat products. Coca-Cola Zero which contains no sugar is a classic example of new product development even though Coca-Cola's existing product range already contained Diet Coke. Both Diet Coke and Coca-Cola Zero contain no sugar but they taste different.The product once again reaffirms its commitment to constantly providing consumers with high quality products that cater to the diverse needs, tastes, diets and lifestyles of consumers.
Besides, increased competition in global market is also one of major reasons leading to go for new products developments. Because it is really difficult for businesses to be successful by depending only on high-volume production and low cost, they have to struggle to fulfil and retain consumers by offering innovatory products. Having a desirable position in highly competitive markets requires making effort to produce exceptional products which will meet the customer needs and satisfy them. This is very apparent in the technology market, where new products are constantly being introduced to a target market that welcomes change and innovation. If a product is successful then competitors will attempt to develop similar products. In fact Google say that they developed the Android operating system to prevent the technology market for products such as mobile phones and tablets being dominated by one supplier.
Last but not least, to build reputation and goodwill as a dynamic innovation and creative firm, the new product development is adopted. Company desires to convince the market that it works hard to meet consumer's expectations. In fact, a company developing new products frequently has more reputation and can easily attract customers. This is the reason why successful brands in the world such as Nike, Pepsi, Toyota, Sony ... rarely mention the characteristics and benefits of the product, but focus on building and strengthening reputation and goodwill.
At the end of the day, new product developments are the lifeblood of any company especially in this competitive market.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2022-09-22 | Trần Thị Phương Thúy | 40 | view |
| 2021-05-14 | vuhoangan25121 | 56 | view |
| 2020-03-16 | duonghoanghiep | 67 | view |
| 2019-10-23 | quynhanh611 | 89 | view |
| 2017-03-04 | quangtom2002 | 73 | view |
Grammar and spelling errors:
Line 5, column 206, Rule ID: SENT_START_CONJUNCTIVE_LINKING_ADVERB_COMMA[1]
Message: Did you forget a comma after a conjunctive/linking adverb?
Suggestion: Otherwise,
...es through their products and services. Otherwise consumers will switch to competitor pro...
^^^^^^^^^
Line 5, column 679, Rule ID: SENTENCE_WHITESPACE
Message: Add a space between sentences
Suggestion: The
...ntain no sugar but they taste different.The product once again reaffirms its commit...
^^^
Line 9, column 651, Rule ID: SENTENCE_FRAGMENT[1]
Message: “If” at the beginning of a sentence requires a 2nd clause. Maybe a comma, question or exclamation mark is missing, or the sentence is incomplete and should be joined with the following sentence.
...et that welcomes change and innovation. If a product is successful then competitor...
^^
Transition Words or Phrases used:
also, besides, but, first, if, really, so, then, for example, in fact, such as
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 17.0 13.1623246493 129% => OK
Auxiliary verbs: 5.0 7.85571142285 64% => OK
Conjunction : 22.0 10.4138276553 211% => Less conjunction wanted
Relative clauses : 8.0 7.30460921844 110% => OK
Pronoun: 19.0 24.0651302605 79% => OK
Preposition: 41.0 41.998997996 98% => OK
Nominalization: 13.0 8.3376753507 156% => OK
Performance on vocabulary words:
No of characters: 2262.0 1615.20841683 140% => OK
No of words: 401.0 315.596192385 127% => OK
Chars per words: 5.64089775561 5.12529762239 110% => OK
Fourth root words length: 4.47492842339 4.20363070211 106% => OK
Word Length SD: 2.97866815279 2.80592935109 106% => OK
Unique words: 240.0 176.041082164 136% => OK
Unique words percentage: 0.598503740648 0.561755894193 107% => OK
syllable_count: 693.0 506.74238477 137% => OK
avg_syllables_per_word: 1.7 1.60771543086 106% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 4.0 5.43587174349 74% => OK
Article: 5.0 2.52805611222 198% => OK
Subordination: 2.0 2.10420841683 95% => OK
Conjunction: 2.0 0.809619238477 247% => Less conjunction wanted as sentence beginning.
Preposition: 4.0 4.76152304609 84% => OK
Performance on sentences:
How many sentences: 20.0 16.0721442886 124% => OK
Sentence length: 20.0 20.2975951904 99% => OK
Sentence length SD: 45.20782565 49.4020404114 92% => OK
Chars per sentence: 113.1 106.682146367 106% => OK
Words per sentence: 20.05 20.7667163134 97% => OK
Discourse Markers: 3.9 7.06120827912 55% => More transition words/phrases wanted.
Paragraphs: 5.0 4.38176352705 114% => OK
Language errors: 3.0 5.01903807615 60% => OK
Sentences with positive sentiment : 16.0 8.67935871743 184% => OK
Sentences with negative sentiment : 3.0 3.9879759519 75% => OK
Sentences with neutral sentiment: 1.0 3.4128256513 29% => More facts, knowledge or examples wanted.
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.367758343411 0.244688304435 150% => OK
Sentence topic coherence: 0.119191643954 0.084324248473 141% => OK
Sentence topic coherence SD: 0.0813168698763 0.0667982634062 122% => OK
Paragraph topic coherence: 0.218114299881 0.151304729494 144% => OK
Paragraph topic coherence SD: 0.0483056609615 0.056905535591 85% => OK
Essay readability:
automated_readability_index: 15.2 13.0946893788 116% => OK
flesch_reading_ease: 42.72 50.2224549098 85% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 12.3 11.3001002004 109% => OK
coleman_liau_index: 15.43 12.4159519038 124% => OK
dale_chall_readability_score: 9.83 8.58950901804 114% => OK
difficult_words: 132.0 78.4519038076 168% => OK
linsear_write_formula: 7.0 9.78957915832 72% => OK
gunning_fog: 10.0 10.1190380762 99% => OK
text_standard: 10.0 10.7795591182 93% => OK
What are above readability scores?
---------------------
Rates: 89.8876404494 out of 100
Scores by essay e-grader: 5.33 Out of 6
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.