A product development is the process that a product goes through before it appears on the market. It is a new product or service in an existing market. The requirements of the market are converted into product specifications for the customers. Product development often involves product modification, improvement or innovation.
Process of product development
- Strategy of the new product
- Concept development of the new product
- Production of the product
- Marketing the new product
- Operation of a new product
Below you will find a list of models for your product development. Click on a term to read the explanation.