Research On The Development Strategy Of New Product Innovation Of A Company

Product innovation is an important symbol of enterprise development.Successful innovation can bring astonishing profits.For example,DuPont's nylon material innovation products promote DuPont's entry into the top 500 US companies.Under the current economic situation in which reform and opening up have been deepening,the sustainable development of enterprises not only requires them to grasp the latest and cutting-edge management levels,but also needs to focus on the development strategy of products in the era of rapid technological change.Therefore,the product innovation strategy is a contingency measure that adapts to the market demand in the ever-changing internal and external environment.Until today,it has become an important program for industrial development.In order to quickly adapt to the changing environment,companies need to constantly seek development balance in the environment.This requires companies to continuously innovate and transform their technologies,products,and management models to adapt to the existing environment.The product's innovation strategy needs to lead the future direction of the industry.Based on product innovation theory and product innovation strategy theory,this paper analyzes the external environment,industry environment,and internal core competitiveness of company A through a large amount of data and data collection to analyze the strategic environment and evaluate the future development of company A.The goal of the product innovation strategy in the process and the choice of path provide theoretical basis for A company to implement product innovation strategy in the future,and provide guidance for maintaining stable and continuous growth in the competitive environment.By using the PEST analysis method to analyze the macro-environment of Company A,it can be seen that the external environment in which Company A is located lays a good foundation for implementing the product innovation strategy.At the same time,it also clarifies the value that A companies can create by implementing product innovation strategies under their macroeconomic conditions.Through analysis of Porter's five-force competition model,it can be seen that Company A has a leading position in the five major competitiveness in the process of implementing product innovation strategy.Finally,the value chain analysis method is used to summarize the internal resources and environment where A company is located,and the factors conducive to the implementation of A company's product innovation strategy are summed up to lay the foundation for the implementation of future product innovation strategy.