Objectives

• It helps in planning the requirements of the resources used in building the product.
• With proper planning resources can be utilized in an effective and efficient way.
• Helpful in surviving in the market by understanding the current needs.
• Departments can be coordinated in a systematic manner.
• Analysing the work environment is easy..
• Resourceful in understanding the Customer Requirement.
• Estimation can be done to reduce the wastage of resources.
• Efficient in reaching new customers.

Product Planning and Devlopment Process

Any idea or product before going live in the market needs a proper planning and guidance regarding the resources needs, market situation, consumers etc. A proper screening is needed to study the idea and outcomes of the phase which is directly proportional to the success of the idea. After all the planning and screening of the idea development comes into actual implementation of the business idea. This comes after the rigorous brainstorming session and continuous planning. Testing the product is the utmost need before launching for the consumers in the desired test environment or market. After the satisfactory results from the testing, management decides to launch the product on the market for the consumers for utilisation of the product.