Open AccessThe Strategy Of Developing New Products: A Requisite For The Development And Survival Of The Businesses
Author(s) -
Ioanna Dimitrakaki
Publication year - 2020
Publication title -
european journal of business and management research
Language(s) - English
Resource type - Journals
ISSN - 2507-1076
DOI - 10.24018/ejbmr.2020.5.1.188
Subject(s) - market share , order (exchange) , competition (biology) , business , product (mathematics) , new product development , process (computing) , production (economics) , marketing , market competition , competitive advantage , industrial organization , economics , computer science , finance , market economy , ecology , geometry , mathematics , macroeconomics , biology , operating system
This article refers to the procedure of producing new products. In an era in which financial crisis has limited the available resources of businesses it is especially useful for the business to produce products which will be able to support it in its goal to maintain its market share. In this project, the case of the Ohonos Snack S. A. Company was examined. This company belongs to the field of snacks and it mainly operates in Northern Greece and the Balkans.
Having used the selected research method –Panizzolo et al. (2010) model- the ways of improving production and the assurance of the suitable conditions for introducing a product in the market were presented.
The research, which was conducted through interviews, showed that the procedures mentioned in the bibliography are followed to a great degree. This means that the suggestions to the company are mainly related to its being able to have a both economical and efficient process.
The goal of this research is to investigate the strategy of developing new products and if it contributes to the development of the businesses’ competition and their survival in the present-day hard competitive market.
The conclusions drawn showed that the introduction of new products has proved to be a powerful tool of strategy the industry has in order to maintain a large market share.