A COMPARATIVE STUDY OF APQP AND CONTEMPORARY PRODUCT DESIGN AND DEVELOPMENT STRATEGIES

New product development is a very challenging task in today’s competitive business world. Due to the different demographic group of customers and their varying demands ,it’s not an easy task for an organization to develop a new product b y considering the customer’s needs .Due to the competitive environment in market; ‘Customer Satisfaction’ becomes the major responsible factor for the sustainability of the product throughout it s entire life cycle. Hence now the organizations ar e defining new techniques, new strategies for product development, from the point of view of ‘Customer Satisfaction’. Other major factors that decide the sustainability of the product are ‘Cost’ and ‘Quality’.