Market-Driven Product Development

Butscher, Stephan A.; Laker, Michael
June 2000
Marketing Management;Summer2000, Vol. 9 Issue 2, p48
Today's markets don't allow many mistakes. Products and services have to meet customer's needs to be successful and extract premium prices from the market. Therefore, product development must be driven primarily by customers' needs rather than by technological possibilities. This article describes how the target- costing pricing approach can help develop superior products while fully extracting the maximum prices from the market and positively affecting the bottom line.


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