Definition of Product Development



Product development is the process by which a product is developed through different stages from the initial idea or design to the final product in the market and beyond. Product development, in other words, incorporate the product‘s entire journey.

 


The product development process starts with the first step of analyzing the customer's (internal or external) needs and demand followed by the product conceptualization and development. Product development also includes product launch after enhancing the existing product in the form of hard software, to consumer goods or services.

 


The basic objective of the product development process is to find out the real customer needs and develop products that help the organization to achieve its goals.

 

 


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