Profitability, consumer relations, and competition are involved in Product Development and Commercialization.
<h3>What are the stages of product development?</h3>
The stages of the New Product Development act are:
- Idea Generation.
- Screening.
- Concept Development.
- Product Development and Commercialization.
Note that Product development and commercialization is known to be the supply line management method that helps to give structure for creating and bringing in of new products in line with customers and suppliers in the market.
Therefore, one can say that Profitability, consumer relations, and competition are involved in Product Development and Commercialization.
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