Brand power: A study on new product development strategy in bathing soap in special reference to chennai city

Abstract

The Importance of New Product Development in a country is increasing day by day for providing product with punctuality at affordable price and always has to maintain superior quality according to buyer‟s requirement. The relevance of product innovations and new product development is done for the competitive advantage of the firm and for the long-term economic growth. The study focuses on the development of a new product, which the company plan to launch on the bathing soap market. By presenting a report, this paper aims to highlight the strengths and weaknesses of the new product development process undertaken by the company. The soap industry experienced an unprecedented rate of increase in the cost of developing new bathing soap while the number of new drugs that were approved and accepted in the marketplace has reached a very low level.