In the introduction of the paper has been clarified the meaning and content of the term new product development, then analyzed the relationship between globalization and product development, and how one influences the other. Furthermore, was analyzed the importance of the steps of the product development process, without which a company cannot develop new products successfully and efficiently. Example of Nestlé corporation was described in details. Important key concepts and the process of product development were explained and finally was described the way Nestlé develops its products.
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Ilić et al. (2024) studied this question.
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