Knowledge Management A Heuristic Application Approach in the Field of Marketing for New Product Development

Abstract

In general knowledge expansion plays a critical role in expansion of our thought processes and horizons, it is indeed an area of understanding of an understanding or definition of a definition or understanding of a misunderstanding or misunderstanding of an understanding. Knowledge management encompasses analytics, storage, and retrieval, application at the desired time or just for catapulting in to a new realm of a new dimension. Heuristics an area or multiple application method is to create a new dimension or just an application of multiple things, objects, subjects, situations, or environments to generate something new which never existed
or thought of, would have existed in an individual form but not in combinations. This paper speaks about applications of multiple things for generation of a better solution for existing or forthcoming problems. The objective behind this approach is to enhance usage of knowledge for easier and faster solutions for a common man in creating as well as developing a new product. A new product can be a break through innovation or a catalytic or a radical innovation and can transform markets there by controlling nations with their dominating products. Hence heuristics as an approach for creating an environment for a new product development will help
innovator, idea generators and marketers to apply it as a tool for instant creation of new products.