๐ Free e-Book | New Product Dev Process ๐ป
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New Product Development Process
What is the product development process?
The New Product Development (NPD) process is about grabbing the market opportunity that revolves around customer needs, checking the ideaโs feasibility, and delivering working software.
On the other hand, Product Development is an umbrella term that sticks to the six stages of the software development lifecycle and works on launching products that already have a Proof of Concept (POC). Whereas the New Product Development approach revolves around working on an entirely new idea, where the uncertainty around its development and subsequent adoption is high.
The seven stages of the New Product Development process include โ idea generation, idea screening, concept development and testing, building a market strategy, product development, market testing, and market commercialization.
01 Idea Generation
02 | Idea Screening
03 | Concept Development
04 | Market Strategy
05 | Product Development
06 | Market Testing
07 | Commercialization
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