Tags: Product development
![Woman presenting at a product development meeting](https://s3.us-east-2.amazonaws.com/files.fisher.osu.edu/opex/public/styles/blog_featured_image/public/2024-03/Blog%20Images%20%283%29.png?VersionId=Hsf8_L_rcdwTksZn97d3pWX0nm9jxLcb&h=f669394f&itok=GG6KzwVZ)
Many companies face significant challenges in meeting cost targets. Whether they're fledgling start-ups or established conglomerates, companies often encounter a familiar scenario: as their product launch draws near, they are caught in a struggle to reduce ballooning costs. Despite efforts, companies often find themselves compelled to raise prices or compromise on product quality to meet revenue and profitability targets.