New Product Development Process in 8 Simple Steps

The New Product Development (NPD) process can be divided into three (3) phases:

1. Discovery - Determine the potential needs and wants of the target market

2. Development - Create and test the output

3. Commercialization - Take the shippable product to market

They can further be broken down into these eight (8) steps :

1. Idea Generation

2. Idea Screening

3. Concept Development and Testing

4. Business Analysis

5. Prototyping and Marketing Testing

6. Product Development

7. Launch or Commercialization

8. Post-Launch Review and Evaluation

Here are the key activities under the Product Development process:

• Product Requirements

• Concept Development

• Proof of Concept

• Alpha Development

• Prototypes

• Beta Development

• Pre-Production Units

• Readiness and Documentation

"There's a way to do it better - find it." -- Thomas Edison

References:

• New Product Development

• Phase–gate model

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