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However, the authors contend that the terminology should be further clarified locally, globally, and for the benefit of consumers and third-party payers. What is the suggestion that the authors put forth to accomplish this?
Product Development
The complete process of bringing a new product to market, from the initial idea through design and manufacturing.
Successfully Marketed Products
Products that have met or surpassed the expectations in sales, target market penetration, customer satisfaction, and profitability metrics.
Differentiation
Distinguishing the offerings of an organization in a way that the customer perceives as adding value.
Low Cost
The strategy or condition of offering products or services at a lower price than competitors, aimed at attracting consumers or achieving higher sales volumes.
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