New product development can move along fairly quickly for straightforward brand or line extensions in the context of a mature consumer packaged goods company.In other settings, the process can be very slow.

Question

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The speed of new product development varies depending on the complexity and novelty of the product. For straightforward brand or line extensions, especially in mature companies, the process is often quicker due to existing infrastructure and market knowledge. In contrast, entirely new products or those in different settings may require more time for research, development, and market testing.

New Product Development Can Move Along Fairly Quickly for Straightforward