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Welcome world to the new and vary innovative web blog "Trade Around The World".

Business of that time with slaves

In this blog you will be able to know a lot of information about business of this world. Business did not start a few days ago. from the centuries it has been running the world. Moreover, the present decade is mostly depending on business. In past people used to make business with their slaves as well. Today most of the trade is depending on fashion, clothing, food etc.

However, business is depending on the market value of a particular product. Now what is product?

Companies which are guided by the product concept philosophy believe that :

• customers favors product that are highly engineered.
• customers favors products that are of the highest quality.
• customers are interested in innovative products.

The Product Life Cycle   

A new product progresses through a sequence of stages from introduction to growth, maturity, and decline. This sequence is known as the product life cycle and is associated with changes in the marketing situation, thus impacting the marketing strategy and the marketing mix.
The product revenue and profits can be plotted as a function of the life-cycle stages as shown in the graph below:

Product life cycle

 

Product development is a broad field of endeavor dealing with the design, creation, and marketing of new products. Sometimes referred to as new product development (NPD), the discipline is focused on developing systematic methods for guiding all the processes involved in getting a new product to market. 

There are a number of organizations dedicated to supporting product development professionals, such as the Product Development and Management Association (PDMA) and the Product Development Institute (PDI). According to the PDMA, the organization's mission is "to improve the effectiveness of people engaged in developing and managing new products - both new manufactured goods and new services. This mission includes facilitating the generation of new information, helping convert this information into knowledge which is in a usable format, and making this new knowledge broadly available to those who might benefit from it."