Cambridge O Level Business Studies · Syllabus 7115 · Marketing
New Product Development
What is New Product Development?
The process by which a business designs, tests and launches a product it has not sold before. It can open new revenue streams, replace products in decline, differentiate the business from competitors and spread risk across a wider range, but it is expensive and uncertain, may divert resources from existing products, and can reduce sales of a product the business already sells.
This definition is part of the Marketing chapter in Cambridge O Level Business Studies.
Last reviewed Syllabus 2026