Product Introduction is the activity of introducing new products into the assortment carried in a store. Retailers carry on market research activities through in-house market research departments or specialist third parties. All the evolving trends on international, national, regional, local basis are identified and studied over a period of time. This is followed by lot of statistical & mathematical analysis by the retailer to evolve new products which can satisfy any emerging demands and needs of the market.
Product Development on the other hand is the activity of generating new ideas for new or improved goods to be added to or to replace existing skus. Many major retailers have the in-house product development teams, which work in co-ordination with the Marketing departments. This activity might also include lot of work with designers and CAD systems of all kinds including pattern-making.
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