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When evaluating a product's impact on the company and customer relationships, several factors should be considered. First, assess the product's financial impact on the company, including sales, profits, and return on investment. Second, consider the product's impact on customer satisfaction and loyalty. This can be measured through customer feedback, repeat purchases, and customer retention rates. Third, evaluate the product's influence on the company's market position, such as its competitiveness and market share. Lastly, consider the product's compliance with regulatory and environmental regulations, as non-compliance can negatively impact the company's reputation and customer relationships.
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How do you stay innovative and provide the right values for customers? Effective product development allows companies to sustain, grow, and thrive in...
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At the end of the product development process, it's time for an evaluation via a post-launch review. Assess different areas of a product's development, how they did or didn't benefit the company or impacted the customer and retailer relationship. Other questions to ask are how much is the company lagging behind or exceeding its competitors because of this product? Or how is the company adhering to regulatory compliance and environmental regulations?
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