Product development

Product Innovation

Creation and Launch


Product development is the creation and launch of products to meet customer needs.


The conceptualization of ways to improve existing products or create new ones to meet customer needs happens during the ideation, or idea generation, stage. Teams can use different techniques for coming up with product ideas, such as brainstorming and storyboarding. Fostering creativity and collaboration and Encouraging innovation.

Idea screening

Not all new product ideas that surface during the early stages of product development are viable. Idea screening can provide important validation for a product idea. Teams can conduct market research to evaluate a product idea, determining, for instance, whether it meets a market need and would appeal to potential customers.

Concept development or concept testing

In this stage, the product idea evolves into a product concept: something that a company can present to target audiences for gauging customer feedback. This presentation can take the form of a detailed description or a prototype that demonstrates the feasibility of the product vision but with more limited functionality.

Software development methodologies

In addition to general product development processes, specific methodologies are often used in the development of software. These methodologies provide a framework for workflow, including how teams and different functions work together, as well as how and when specific steps are taken.

Sustainable product development

Making the product development process sustainable is a challenge for many companies. A lack of visibility into product components or design elements that underperform or consume too much energy can hamper efforts to meet environmental compliance objectives and slow a product’s time to market.


How can a company determine if its product development process has been successful? In a study of more than 40 companies by McKinsey, researchers determined that product volume, revenue, unit cost and time-to-market key performance indicators (KPIs) were the most widely used metrics. Researchers found that companies that rely on these metrics tend to see better short-term performance than companies that don’t. This apparent competitive advantage notwithstanding, researchers recommended that companies concerned with long-term success should also evaluate customer satisfaction, team morale and relationships with suppliers and partners in product development processes.



The process typically begins with conceptualization, where the idea for a new product is generated. This may involve brainstorming sessions, market research, user surveys, and other methods to identify opportunities and define the product concept.


Once the concept is established, the next step is to create a detailed design for the product. This includes defining the product’s features, functionality, form factor, user interface, and other specifications. Designers may use various tools such as CAD (Computer-Aided Design) .


Prototyping involves building physical or digital models of the product to test its functionality, usability, and performance. Prototypes can range from simple sketches and mockups to more sophisticated prototypes that closely resemble the final product.

Testing and Iteration

Prototypes are tested extensively to identify any flaws, weaknesses, or areas for improvement. This may involve user testing, usability studies, performance testing, and other forms of evaluation. Feedback from testing is used to iterate on the design and refine the prototype until it meets the desired criteria.


Prototype and product development is a crucial phase in bringing any new product or technology to market. It involves the iterative process of designing, building, testing, and refining prototypes to create a final product that meets the desired specifications and user needs.


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