Page 5: Product development
Product development is a particularly appropriate strategy where an organisation is strong in research and development. Product development is highly important for products that have comparatively short life-cycles.
Within Amway there are approximately 500 active research and development projects in progress at any one time. With around 575 staff involved in research processes, and with strong links to many universities, Amway formulates, designs and develops new products to meet customer needs and expectations within the global marketplace.
For example, based on a Euromonitor study of 1998 estimated global retail sales data, 'artistry is among the world' top five largest selling prestige brands of facial skin care and colour cosmetics. Others in this distinguished group include Clinique, LancÂme, Estee Lauder and Sofina'.
Amway currently holds more than 380 patents internationally and has approximately 430 patents pending. Within its product development programme, Amway's technical teams use the company's customer base to monitor and test new product ideas.