Product Development Process | Definition and Overview
Product development can be both exciting and challenging. No two product launches are alike, from initial ideation through research and prototyping. There is a general process, however. This will help you to get started on the product development process.
The product development process describes the six steps that were necessary to move a product from its initial conception to its final launch on the market. This involves identifying a market demand. Researching the competition, developing a solution, and creating a product roadmap are some of the steps and building a Minimum Viable Product (MVP).
In recent years, the product development process has changed and is common to divide each step into six distinct phases. This allows you to organize your work and breaks down individual deliverables into smaller tasks.
What is product development?
Product development refers to the process of creating a new product from its conception through launch. Product development starts with the initial brainstorming sessions if you are just talking about a budding idea. The process of product development is both creative and strategic. You may have seen it done in many different ways. It can be difficult to combine creativity and strategy without a clear structure. This is where product development comes in. It consists of six steps that will help you to standardize and define what you do.
Difference between product management and product development?
Although they sound similar, there is a significant difference between product management and product development. Product development is the process of creating a product. While product management oversees that process. This is a subtle distinction, but it’s an important one. Product management is usually led by a product manager who oversees the product development team.
The 6 stages of product development
The product development process not only simplifies a launch but also makes it easier. It encourages cross-team collaboration with teamwork & communication at the forefront.
Let’s take a look at the product lifecycle and identify the six phases. These are all important to launch your next product.
1. Idea generation (Ideation)
The first stage of product development begins with the creation of new product ideas. This is the product innovation phase. Here you will brainstorm product ideas based on customer requirements, market research, and concept testing. When you are thinking of a new product idea, it is a smart thing to think about the following:
Originally published on The Tech Trend
