{"id":1047,"date":"2022-04-21T19:22:00","date_gmt":"2022-04-21T17:22:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/product-development-objectives\/"},"modified":"2023-08-16T13:31:30","modified_gmt":"2023-08-16T11:31:30","slug":"product-development-objectives","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/","title":{"rendered":"PRODUCT DEVELOPMENT OBJECTIVES"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u00a0<span style=\"text-indent: 41pt;\">It is very important to clearly state the product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> objectives <\/span><span style=\"font-size: 14pt; line-height: 137%; text-indent: 41pt;\">in order to provide direction for product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> decisions. <\/span><span style=\"text-indent: 41pt;\">Generally, product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> programmes may be designed to implement <\/span><span style=\"font-size: 14pt; line-height: 137%; text-indent: 41pt;\">the corporate marketing plan or to implement the marketing strategy for a given product or product line.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=600%2C600&#038;ssl=1\" alt=\"PRODUCT DEVELOPMENT OBJECTIVES\" class=\"wp-image-1448\" srcset=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?w=600&amp;ssl=1 600w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=12%2C12&amp;ssl=1 12w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption class=\"wp-element-caption\">PRODUCT <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">DEVELOPMENT<\/a> OBJECTIVES<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/product-development-strategy-slide1.png?ssl=1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/product-development-strategy-slide1.png?ssl=1\" alt=\"PRODUCT DEVELOPMENT OBJECTIVES\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">There are four basic types of product-development programmes, each of which is <span style=\"font-size: 14pt; line-height: 132%;\">designed to fulfil specific objectives. These programmes include:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1155\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(i)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Product-line modification programmes<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1156\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(ii)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Product-line extension programmes<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1157\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(iii)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Complementary-product programmes<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1158\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(iv)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Diversification programmes.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 14pt; line-height: 115%;\">An organisation may employ any one or a combination of these programmes to achieve different product-development objectives.<\/span><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6aafd27ea1ebb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6aafd27ea1ebb\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#i\" >&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#PRODUCT-LINE_MODIFICATION_PROGRAMMES\" >PRODUCT-LINE MODIFICATION PROGRAMMES&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#PRODUCT-LINE_EXTENSION_PROGRAMMES\" >PRODUCT-LINE EXTENSION PROGRAMMES &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#COMPLEMENTARY-PRODUCT_PROGRAMMES\" >COMPLEMENTARY-PRODUCT PROGRAMMES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#_Diversification_of_product_development_programmes\" >&nbsp;Diversification of product development programmes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"i\"><\/span>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PRODUCT-LINE_MODIFICATION_PROGRAMMES\"><\/span>PRODUCT-LINE MODIFICATION PROGRAMMES&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These&nbsp;<span style=\"font-size: 14pt; line-height: 120%;\">programs are generally employed with the primary objective of <b><i>enhancing sales of <\/i><\/b><\/span><b><i>the present line.<\/i><\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 14pt; line-height: 125%;\">They may be useful in implementing a customer-retention <a href=\"https:\/\/educom360.com\/strategy-implementation-and-execution\/?swcfpc=1\">marketing strategy<\/a> for the purposes of:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">meeting changing buyer needs meeting new competitive offerings or improving satisfaction with the product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This objective of enhancing sales of the present line can be achieved by: redesigning or reformulating the product to provide new benefits or to improve product quality; or by using multiple packaging in order to reduce competitors&#8217;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We may note that product modification programmes may enhance sales just by stimulating primary demand through increasing the rate of purchase. For instance, major design changes may result in a faster replacement rate for durable goods. In particular, modest packaging changes can lead to more rapid consumption of the product.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PRODUCT-LINE_EXTENSION_PROGRAMMES\"><\/span><b><span style=\"font-size: 14pt; line-height: 125%;\">PRODUCT-LINE EXTENSION PROGRAMMES <\/span><\/b><span style=\"font-size: 14pt; line-height: 125%;\">&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 14pt; line-height: 125%;\">The primary objective of product-line extension programmes is to <i style=\"font-weight: bold;\">reach a<\/i>&nbsp;<\/span><b><i><span style=\"font-size: 14pt; line-height: 120%;\">new segment of a market.<\/span><\/i><\/b><span style=\"font-size: 14pt; line-height: 120%;\"> Basically, these programmes may be employed to:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 14pt; line-height: 120%;\">acquire competitors&#8217; customers in segments where a firm presently does not have an offering, or&nbsp;<\/span><span style=\"font-size: 14pt; text-indent: 1pt;\">stimulate demand among current non-users of a product form.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 14pt; line-height: 132%;\">In these two situations above, an entirely <a href=\"https:\/\/educom360.blogspot.com\/2022\/04\/new-product-development.html\">new product<\/a> must be created with <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/new-product-development.html\">product<\/a> <\/span>features distinguishing it from the current offering.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"COMPLEMENTARY-PRODUCT_PROGRAMMES\"><\/span>COMPLEMENTARY-PRODUCT PROGRAMMES<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1167\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-size: 12pt; line-height: 122%;\">Complementary product programmes seek to introduce products that can be <\/span>generally used with existing products. The objectives of these programmes may <span style=\"font-size: 14pt; line-height: 122%;\">be two-fold: either to <\/span><b><i>enhance sales of existing products<\/i><\/b><span style=\"font-size: 14pt; line-height: 122%;\"> or to <b><i>establish sales <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> in related markets.<\/i><\/b><\/span><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/3-s2.0-B9780124080669000011-f01-02-9780124080669.jpg?ssl=1\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/3-s2.0-B9780124080669000011-f01-02-9780124080669.jpg?resize=624%2C345&#038;ssl=1\" alt=\"COMPLEMENTARY-PRODUCT PROGRAMMES\" width=\"624\" height=\"345\"><\/a> COMPLEMENTARY-PRODUCT PROGRAMMES<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Complementary products have been found to enhance the sales of existing <span style=\"font-size: 12pt; line-height: 129%;\">products. For example, a flash attachment to a camera will enable the customer to use the product in more situations, and will thus enhance the quality of the photographs taken. In another way, a complementary product may be introduced simply <\/span>to take advantage of a company&#8217;s brand name, image, or sales force. For example, a tyre manufacturing firm may add the production of tubes as complementary <span style=\"font-size: 14pt; line-height: 129%;\">products.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Diversification_of_product_development_programmes\"><\/span><span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: normal; line-height: normal;\">&nbsp;<\/span><!--[endif]-->Diversification of product development programmes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a name=\"bookmark1171\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Diversification programmes are designed to establish a firm in new markets in order to achieve objectives such as <b><i>new <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> opportunities<\/i><\/b><span style=\"font-size: 14pt; line-height: 130%;\"> or&nbsp;<\/span><b><i>sales stability. <\/i><\/b>Generally, diversification is a policy of adding <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/new-product-development.html\">new products<\/a> to serve new markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0It is very important to clearly state the product development objectives in order to provide direction for product development decisions. 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