New product development

In this overview, business students can relate Ansoff’s growth strategies in the launch of new cars in an already entrenched market…... read more

Most businesses change their product portfolio periodically. One reason that drives this change is the strong internal force of domestic demand. The Nano car, launched by India’s Tata Motors in April 2009, is the result of the demand for an affordable compact car by India’s growing middle class. Alternatively, the desire to manufacture new products is also driven by the changes in consumer preferences and tastes. Toyota’s Aurion V6 and Hyundai’s Nemesis were manufactured in response to these.