Marketing Product Development

Product Development
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Institutional Affiliation
Abstract
For a fruitful positioning of healthcare products in the market, some considerations must be in place such as product development. What follows should be comprehensive research and an analysis of the needs and the segment markets. There is the regulatory environment that is part of healthcare products that cannot be snubbed. It will continue to play an important role in placing the products on the market. Pricing of the products is one of the factors that affect the positioning of the products. Planning on the pricing in the initial development of the product development process is key. By looking at who shall be paying for products that may either be the patients, government, or the hospital. The reimbursement of the health products needs to be considered, which determines if the product can deliver suitable returns. Moreover, the healthcare providers are primary stakeholders in the lifecycle of both products and services making them crucial to the welfare of patients.
Keywords: Healthcare, products, service, portfolio, technology, survey
Product Development
Introduction
Products have a life cycle in that, at times, those goods perceived to be well established in the market decline and are less popular. Interestingly, the demand for new products and modern goods increases with time after such products are launched in the market. Most firms understand the nature of product lifecycle, and they utilize aggr…