Product Innovation Essay

798 Words2 Pages

1.3 PRODUCT INNOVATION
The development of new products, changes in design of already established products, or use of new materials or any of the other components in the manufacture of established products.
Many examples of product innovation which include introducing to the new products, enhanced quality and improving of its overall performance. Product innovation, with it adding up cost-cutting innovation and process innovation, are three different classifications of innovation which aim to develop the company's production methods.
Product innovation means different things to different type of people. Some, for example, tend to think in terms of a product which is of ‘first of its kind’. Indeed, since about the year 1971 there seems to have …show more content…

A measure of overall customer satisfaction typically shows consumer expectations towards the service provided, as well as how far the provided services are from their side. Customer satisfaction is one of the fundamental determinants of very long term consumer behaviour. In order to control customer defection, most of the company’s focus on the one of the major is managing customer satisfaction. Customer satisfaction has gained very much attention in the last few years in most of the areas of production. In an increasingly competitive and rapid environment, greater attention is paid to customer relationships and existing satisfied customers. For companies, customer satisfaction is most effective way to differentiate from competitors and gain competitive advantage but it is also one of the key issues in their efforts towards improving quality. Satisfaction is most used as a predictor of future consumer purchases. Satisfied customers have a higher likelihood of repeating purchases in time, of recommending that others try the source of satisfaction and of becoming less receptive to the competitor’s …show more content…

A total of 17.8 million of two wheelers are sold here from 2 year, that's over around 49,000 units every day. China trailed with 16.9 million units has already sold, survey conducted from industry body Society of Indian Automobile Manufacturer as well as the reports are compared from China Association of Automobile Manufacturers. Indonesia stands in the third place in Automobile Manufacture.
Besides increasing incomes and fast growing infrastructure even in the rural areas compared to urban area, one of the main reasons for the rise in sales has been with women commuters who feel ease to ride in and out of city traffic in the gearless scooters.
The need for vehicle mobility is one of the growing hub in India, and India is faster in developing economies in the world," says YS Guleria who is senior VP at Honda Motorcycle and Scooter India, the it is the country's second biggest two wheeler

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