Product development is a static concept. TRUE OR FALSEsTATEMENT IS TRUE OR FALSE

Asked on by nirmalnss

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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The concept of product development is a static thing.  Product development always has the same definition.  As the link below says, product development can be defined as

the process by which a company does one of two things: 1) creates an entirely new product that either adds to an existing product line or occupies an entirely new niche; 2) modifies or updates an existing product.

This definition does not change over time.

However, product development as a process is quite the opposite of static.  The whole point of product development (as the quote above suggests) is to cause change.  A firm must constantly be updating products to improve them or seeking to provide new products.  If it does not, it will have a hard time competing in the market.  This is clearly not something that is static.

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