Definitions by Design - Merchandise Product Development  
Merchandise Product Development Definitions - N

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NAICS
Northern American Industry Classification System is a system of codes classifying similar businesses together. It is used by the United States, Canada and Mexico.

 

 

New Product Development
The development of new products for company growth or to replace products that are in decline. The stages in this process typically include idea generation, screening, concept development and testing, formulating marketing strategies, business analysis, production, market testing and commercialization.