1. Why is freshly product development so heavy for a company like LOreal?
Driven by consumer demands and with the development of newborn engineering science, many companies have to bring roughly new products to the market, if they command to remain their competitive advantage and preserve the profitable growth. That is why new product development go off become the most grand business process.
  In this LOreal case, trigger is its driving force, in terms of both technology and fashion, LOreal has invest so much in innovation, innovation is quite important and essential to LOreal which wants to keep unbroken growth and perform well in the global market, and in that location argon many forms of innovation, new products and services are genius aspect of them, it is very important for LOreal to know how to recognize innovation opportunities and transform some(prenominal) good and useful ideas into new product development.
  There are several items to consider about(predicate) why LOreal has to develop new products.
1. Customers
  Because N.P.D is a Customer-Driven Process. So a discussion of node need analysis is necessary. slackly speaking, N.P.D can offer superior value to customers compared with the existing products.
LOreal spends much time and capital on R&D every year in order to understand customer needs, because customer needs can generate much important information for LOreal to decide if in that location are some value opportunities in developing new products, especially appeal to different segments in a global market. Through R&D, market segment identification and analysis can wait on LOreal to identify which segments can offer opportunities to develop new products, and who are LOreals existing and potential customers, and what are the gaps between the existing products and customers expectation. From customers points of view, they always have demands for new products, because there are demands for differentiation, especially for cosmetics like LOreal; consumers who often use...If you want to get a full essay, order it on our website: Orderessay
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