Explain about piecemeal modernization in the line modernization.
Piecemeal modernization is less of a drain upon the company’s cash flow. A main disadvantage of Piecemeal Modernization is that this permits competitors to observe changes and starts redesigning their own line.
In quickly changing Market Product Modernization is carried out incessantly since competitors are continuously upgrading their options. Every company should redesign their own contribution. A company would like to upgrade customers to higher valued higher priced items. A main issue is the timing of the product line improvement than they do not happen to untimely and damage the sales of their current product line or came out later so that the competitors can establish a strong foothold.