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Current fiscal may see highest number of model launches: Royal Enfield

Royal Enfield currently has presence in all major cities and towns in India, and exports to over 50 countries across the world including the US, the UK, several European and Latin American countries, as well as the Middle East and South-East Asia.

Mid-sized motorcycle maker Royal Enfield expects the current fiscal to be one of the best for the company in terms of new model launches as it looks to drive in an array of new products for domestic and international markets. The company, which is part of Eicher Motors, noted that it has a rich pipeline of products under development which could hit the market in the coming days.

"In fact, this year will probably be the highest number of new models that you have ever seen from Royal Enfield being launched in a year and that's the beginning of the pipeline. The company would continue to have one new model every quarter for the time being due to COVID-related disruptions.

Royal Enfield current model line-up comprises Meteor, Interceptor, Continental GT, Himalayan, Classic and Bullet.

Question: Assume you are the marketing manager of the company, you are required to explain different stages of new product development process to gain competitive edge in the market.