Walmart develops and Manages Products through their marketing Objective of competition,product,price,promotion,place.New product development is also a part of development and Managment of products.New product development (NPD) is the term used to describe the complete process of bringing a new product to market. Walmart products are a set of benefits offered for exchange and can be tangible or intangible .
This process consist of the idea generation, product design and finally detail manufacturing of the product ; the other involves market research and analysis. Walmart uses the new product development stage as the first approach in generating and commercializing new products .This process consist of Idea generation,Idea screening,concept development and testing,Business Analysis and technical implementation.Walmarts Idea generation(also call ideation) consists of the new innovation of products ,i.e. products made for problem solutions these products allow the consumer to buy a product that will solve a problem.A lawn mower is goo problem solution for a homeowner's or a business that needs to cut grass.
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