What is Product Development?

Introduction

Product Development is the complete process of converting an idea or concept into a product that solves a real problem.

The product development process starts way long before anything gets built. It includes brainstorming, planning, building, launching, etc.

There are many stages and steps in the product development process. Some of them are:

1. Idea generation
2. Idea screening
3. Concept Development
4. Market Strategy
5. Product Design
6. Testing
7. Launching

1. Idea Generation

There are many problems we face in our daily life or in professional life, some are very small and some are big. We continuously strive for solutions to these problems. In the process of finding a solution, we find the idea which will a perfect solution to our problem. We call this phase the Idea Generation phase. We Generate some ideas or we call it as a solution which will solve our problem.

2. Idea Screening

There can be lots of solutions to a single problem, but we want the best solution to be carried out in the best possible way. So we screen all the ideas on basis of Parts availability, costing, complexity, delivery time, and quality required.

3. Concept Generation

In this step, we prepare a prototype or non-working model and show it to customers for feedback. After feedback, we make changes according to the feedback given by the customer. So there is a perfect solution is getting ready for testing in the market.

4. Market Strategy

It implies that the marketing strategy is to sell the product or solution to the customer. In this stage, we prepare a marketing plan, a sales plan, and advertising ideas. We consider the 4Ps of marketing that is Product, Price, Promotion, and Place.

5. Product Design

This stage consists of turning the prototype into a working model. I this stage all departments work in sync that is production, finance, marketing, and design.

Steps in the product design:

1. Product design Ideation
2. Product design feasibility
3. Design Prototype
4. Testing
5. Product Launch

6. Testing

After the production process, the new products are sent to testing. After testing ok then the product is set to launch. If not then it is sent to production for needed changes and again the process is repeated till the required output gets.

7. Launching

This is the last step in the process. After testing the product it is ready to be introduced to the customers.

Thank you for reading.

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