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Hobby-Light is a desk light that lets hobbyists match colour swatches accurately without going outside.Its like convenient,natural sunlight inside.The lights have high marketing costs,are sold with high dealer margins,and high production costs.Ads for the product aim at educating craftspeople who work with fabrics and paints about the benefits of the Otto-Light.The light is in the Decline stage of the product life cycle.
New Product Development
The complete process of bringing a new product or service to the market, from idea generation and concept testing to design, production, and marketing.
Consumer Insights
The understanding and interpretation of customer data, behaviors, and feedback to drive product development, marketing strategies, and other business decisions.
Commercialization
The process of bringing a new product or service to the market, involving production, pricing, distribution, and marketing strategies.
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