Business Development irrespective of size or any other parameter about organization starts with making a strategy. Introducing new product in competitive market is one of the ways for Small Sale Industries to increase revenue when there is large opportunity identified for that particular product. Opportunity assessment and product discovery are two key points to kick start the new product development. Business strategies are always made perfect at the beginning but when it is about new product introduction it should be prepared well considering all risk factors at the same time. A prior quantitative and qualitative market survey gives all answers when preparing for new product's business. Growth of any business depends on fulfilling market demands by introducing new products since it gives new set of customers to the organization.
Business Development, Market Survey, New Product, Small Scale Industries
