Product Development and Marketing Strategies

Running Head: PRODUCT DEVELOPMENT
Product Development
Name of Student
Name of University
Author note

1PRODUCT DEVELOPMENT
Environmental factors affecting new product development- Availability of raw materials
for manufacture and resources in the environment influence new product development.
Ergonomics plays a major role in the development of a new product. Some industrial production
causes heavy damage to the environment and hence while designing a new product the
manufactures must ensure that it can be recycled . Culture can also influence the development of
a new product since the same product can be desirable for a specific culture and offensive for
another.
GAP model- Assuming it’s a food product (cereal), the managers fail to identify that the
customer prefer a variety in flavors. The second gap related to the consumer’s experience and
management perception. The organizers need to define the level of services provided. Thirdly,
the experience is delivered differently than the specification of the experience. Managers must
make sure that the experience and delivery tally. The final gap is concerned with the customer’s
expectations and their perception of the product. The customer’s past experiences of substitute
products has caused a gap between the experience of the new product and their expectations (Lee
et al., 2016).
Functions performed by a channel of distribution- Bridging the gap between consumption
and production is a key function of distribution channel. It is also responsible for product
promotion and maintaining liaisons with prospective buyers. The channel must look into the
financial requirements so the firm can function smoothly. Stock holding is a notable example of
their functions.
Factors affecting the design of promotional mix- The nature of market and product
largely influences promotional mix. The promotional tools for different products is determined