How Product Based Companies Works

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Product based companies are those which create product in advance customer approaches to them. They have their own product and they approach clients to sell those products.

Research and Development

  • Product based companies invest more on research and development.
  • These companies research before creating any new product.

Innovation

  • While creating new product they innovate something different than existing product in that domain.
  • Innovation can come in design, development, raw material or anything which can make product unique.

Product Development

  • After researching and innovation they create one sample product and test it internally for accuracy.
  • If tests are successful then they go for building more products and will be available for public trials.

Product Marketing

  • Prepared product then ready to sell and marketing team reach out to clients with all the details about product and demonstrate them.
  • If clients like the product they order that product and pays for that.

Products Feedback and Improvements

  • Products can be improve in some of it's parts as per the feedback of clients.
  • Some companies are there who manufacture products as per the clients requirements.