New Product Development Process

Have you ever wondered how specific companies always comes up with best ideas while many of the enterprises put on pouring money for branding & advertisements.

I will tell you how does this New Development Process (NPD) works.

1. Planning of Ideas; One of the hardest part of this process is generating new ideas. Organisation with 100% success rate believe in this strategy of developing new ideas and leads towards growth.

2. Screening Of Ideas; Now once the Idea is planned the next process in NPD is Idea screening nothing else but filtering the ideas to choose the excellent one. Reason behind screening the ideas is product development cost rise high in further stages, so Organisations prefer only those product ideas that will prove profitable in future.

3. Concept Development & Testing; This is the stage where things gets started processing. In this stage both the upper management team & Marketing people will make out a deep conclusion like production cost, benefits of product & the most important customer response.

4. Prototyping; Generally in Prototyping phase, the product development is to create a finish product to use as sample for mass production.

It’s common you will not get the finish product in 1st phase itself, as because Prototyping involves experimenting with many versions of product, until the management feels satisfied with final sample product.

Prototyping also depend industry to industry. Some Organisations do in-house whereas some prefer to outsource.

5. Product Testing; Now the product is ready, now you are in phase to predict how successful your product could be & for that you need to test in the realistic market & you will come to know feedback of your product.

There are few many Features of NPD like Technical Side, Commercialization etc.which I believe you need to educate about this.

Any questions or doubts regarding this are most welcome. You can comment below.

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Thank you.