Everything About Engineering

Stages of the New Product Development (NPD) Process New-Product Development Process: New product development is a process which is designed to develop, test and consider the viability of products which are new to the market in order to ensure the Growth or survival of the organization.  Every entrepreneur knows that productivity is one of the key ingredients for successful product development. New product development (NPD) is the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief).  Stages of New Product Development:  New product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management used to maintain or grow their market share.  Idea Generation Idea Screening Concept Development and Testing Business Analysi

Concept of New Product Development PRODUCT DEVELOPMENT CONCEPT The product idea concept is first developed from market and consumer research but with consideration of the technical aspects of the product. Usually, it is a combination of internal company information searching combined with consumer or, in industrial marketing, customer discussion groups. In industrial product development, it has been shown that selecting the most innovative customers for product concept development reduces the time and improves the product concepts. The product idea concept research leads to a more detailed description of the product ideas and also includes screening of the ideas.  Product Development  is the design and engineering required to make products serviceable, salable, producible and profitable.  The basic concept involved in PD may be of two types:  Creative Technical Creative design focuses on analysis and creativity. Technical design which involves perfecting the style