Sequential Product

Posted in Marketing and Strategy Terms, Total Reads: 6715

Definition: Sequential Product

A new product developed using the sequential product development approach is called as a sequential product. In this approach,each department in the company works on the new product separately at each stage of development and then passes it on to the next department for the successive stage.

This approach is often used to control risky and complicated projects. The steps involved are as follows:

The major disadvantage of this approach is that it is very slow and not appropriate for fast-changing and highly competitive markets.

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