Product development may be understood generically as all the things that happen from

the initial conception or invention of a product to the point when a product is launched into the

market. It can also be understood as a method, a discipline, and a formal process followed by a

company as it does the same thing. In the modern business literature, the authors typically mean

the latter, a "corporate process," and they are typically talking about the undertakings of large

corporations in which equally massive teams are involved.

Objective 1: To maintain a good company reputation in order to satisfy customers.

One of the ways for earning more profit is through customers. A happy customer represents a

satisfactory business, and a decent business means more customers and clients. Providing

exceptional customer care will benefit both the company and target audience. Therefore, satisfied

customers are evidence of a successful business.

Strategy 1: Improve the quality of products services without sacrificing cost effectiveness. (S10,

T6)

Quality is what a product can do for a customer. Product quality is also how well the

product does what it's supposed to do, and how well it holds up over time. Product quality is a

competitive marker for brands that affects purchasing decisions and profitability. Having

excellent quality of products and merchandise can also maintain the satisfaction of customers.

Managing quality is crucial for small businesses. Quality products help to maintain customer

satisfaction and loyalty and reduce the risk and cost of replacing faulty goods.
 Strategy 2: Improve the company’s online market; make it more interactive and appealing. (W5,

O3)

Social media is how most people discover new products. Although keeping social

accounts and online websites updated, relevant, and interesting is important, it may not be

enough to get people’s attention. To grow your business, you need to be constantly evolving.

That means making sure you're staying up to date with how different generations are shopping so

you can strategically adjust your business.

STRATEGY PROGRAMS ACTIVITIE TIME FRAME PERSON / RESOURCE

S DEPARTMENT REQUIREMENT

IN HARGE
Improve the Development Establish As needed; Purchasing and More or less

quality of Program plans and From time to Operations 100,000 for

products build time bargaining better

services without teams for and improved

sacrificing cost developme products and

effectiveness. nt and acquiring

strategic measures for

planning. better services.

Improve the Improvement Build From time to Technical More or less

company’s Program teams who time Department 30,000 for the

online market; could including compensation and

make it more work on Information resources needed

interactive and the Technology to improve the S

appealing. improvem experts & A website.

ent of the
 company’s

online

store.

Objective 2: To acquire more customers through the means of advertisements and

promotions.

Promotion is important for any type of business to let others know about the business.

Any type of business, whether it is run online or offline requires customers so that it can

experience a good business turnaround. Advertising is important for every aspect of a business. It

plays an imperative role for both manufacturers and consumers. Advertising is important for the

business on the whole as it lets the business gain more customers, thereby increasing business

turnaround.

Strategy 1: Invest cost-effective amounts on advertising online and in-store promotions. (S10,

O8)

The advertising budget of a business is typically a subset of the larger sales budget and,

within that, the marketing budget. Advertising is a part of the sales and marketing effort. Money

spent on advertising can also be seen as an investment in building up the business.

Strategy 2: Considering conducting or being involved in more book fairs and the like for

company exposure. (S8, O8)

 Book fairs play a vital role in publishing. Both professional and consumer book fairs are

important for the book industry. They bring together publishers, agents, distributors, retailers and

book lovers together on a single platform. Media shifts its attention to book industry when the

book fairs are on.

STRATEGY PROGRAMS ACTIVITIES TIME FRAME PERSON / RESOURCE

DEPARTMENT REQUIREMENT

IN HARGE
Invest cost- Enhanceme Establish As needed; Selling and More or less

effective amounts nt Program marketing From time to Advertising 20,000 for

on advertising strategies in time Department advertising and

online and in-store order for the promotion ideas

promotions. company to for the popularity

be more of the company

known to and its products.

the public.
Considering Involvemen Build Occasional Marketing and More or less than

conducting or t Program partnerships Advertising 10,000 for the

being involved in with book Department involvement of

more book fairs fair the company in

and the like for conductors the said activities.

company exposure. and be more

involved

and engaged

in their

activities.