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business Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...
and
engineering Engineering is the use of scientific method, scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad rang ...
, new product development (NPD) covers the complete process of bringing a new
product Product may refer to: Business * Product (business), an item that serves as a solution to a specific consumer problem. * Product (project management), a deliverable or set of deliverables that contribute to a business solution Mathematics * Produ ...
to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is
product design Product design as a verb is to create a new product to be sold by a business to its customers. A very broad coefficient and effective generation and development of ideas through a process that leads to new products. Thus, it is a major aspect of n ...
, along with various business considerations. New product development is described broadly as the transformation of a
market opportunity A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, wea ...
into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market. The product can be tangible (something physical which one can touch) or intangible (like a service or
experience Experience refers to conscious events in general, more specifically to perceptions, or to the practical knowledge and familiarity that is produced by these conscious processes. Understood as a conscious event in the widest sense, experience involv ...
), though sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that drive customer needs. Aiming at these three variables, innovative companies develop continuous practices and strategies to better satisfy customer requirements and to increase their own market share by a regular development of new products. There are many uncertainties and challenges which companies must face throughout the process.


Process structure

The product development process typically consists of several activities that firms employ in the complex process of delivering new products to the market. A process management approach is used to provide a structure. Product development often overlaps much with the
engineering design The engineering design process is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative - parts of the process often need to be repeated many times before another can be entere ...
process, particularly if the new product being developed involves application of math and/or science. Every new product will pass through a series of stages/phases, including ideation among other aspects of
design A design is a plan or specification for the construction of an object or system or for the implementation of an activity or process or the result of that plan or specification in the form of a prototype, product, or process. The verb ''to design'' ...
, as well as
manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a r ...
and market introduction. In highly complex engineered products (e.g. aircraft, automotive, machinery), the NPD process can be likewise complex regarding management of personnel, milestones, and deliverables. Such projects typically use an
integrated product team An integrated product team (IPT) is a multidisciplinary group of people who are collectively responsible for delivering a defined product or process. IPTs are used in complex development programs/projects for review and decision making. The emphas ...
approach. The process for managing large-scale complex engineering products is much slower (often 10-plus years) than that deployed for many types of consumer goods. Th
product development process
is articulated and broken down in many different ways, many of which often include the following phases/stages: # Fuzzy front-end (FFE) is the set of activities employed before the more formal and well defined requirements specification is completed.
Requirements In product development and process optimization, a requirement is a singular documented physical or functional need that a particular design, product or process aims to satisfy. It is commonly used in a formal sense in engineering design, includi ...
speak to what the product should do or have, at varying degrees of specificity, in order to meet the perceived market or business need. # Product design is the development of both the
high-level High-level and low-level, as technical terms, are used to classify, describe and point to specific goals of a systematic operation; and are applied in a wide range of contexts, such as, for instance, in domains as widely varied as computer scienc ...
and detailed-level design of the product: which turns the ''what'' of the requirements into a specific ''how'' this particular product will meet those requirements. This typically has the most overlap with the
engineering design The engineering design process is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative - parts of the process often need to be repeated many times before another can be entere ...
process, but can also include
industrial design Industrial design is a process of design applied to physical Product (business), products that are to be manufactured by mass production. It is the creative act of determining and defining a product's form and features, which takes place in advan ...
and even purely aesthetic aspects of design. On the marketing and planning side, this phase ends at pre-commercialization analysis stage. # Product implementation often refers to later stages of detailed engineering design (e.g. refining mechanical or electrical hardware, or software, or
goods In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not tran ...
or other product forms), as well as
test process Test(s), testing, or TEST may refer to: * Test (assessment), an educational assessment intended to measure the respondents' knowledge or other abilities Arts and entertainment * ''Test'' (2013 film), an American film * ''Test'' (2014 film), ...
that may be used to validate that the prototype actually meets all design specifications that were established. # Fuzzy back-end or commercialization phase represent the action steps where the
production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stati ...
and market launch occur. The front-end marketing phases have been very well researched, with valuable models proposed. Peter Koen et al. provides a five-step front-end activity called front-end innovation: opportunity identification, opportunity analysis, idea genesis, idea selection, and idea and technology development. He also includes an engine in the middle of the five front-end stages and the possible outside barriers that can influence the process outcome. The engine represents the management driving the activities described. The front end of the innovation is the greatest area of weakness in the NPD process. This is mainly because the FFE is often chaotic, unpredictable and unstructured. Engineering design is the process whereby a technical solution is developed iteratively to solve a given problem. The design stage is very important because at this stage most of the product life cycle costs are engaged. Previous research shows that 70–80% of the final product quality and 70% of the product entire life-cycle cost are determined in the product design phase, therefore the design-manufacturing interface represent the greatest opportunity for cost reduction. Design projects last from a few weeks to three years with an average of one year. Design and Commercialization phases usually start a very early collaboration. When the concept design is finished it will be sent to manufacturing plant for prototyping, developing a Concurrent Engineering approach by implementing practices such as QFD, DFM/ DFA and more. The output of the design (engineering) is a set of product and process specifications – mostly in the form of drawings, and the output of manufacturing is the product ready for sale. Basically, the design team will develop drawings with technical specifications representing the future product, and will send it to the manufacturing plant to be executed. Solving product/process fit problems is of high priority in information communication design because 90% of the development effort must be scrapped if any changes are made after the release to manufacturing.


Process

#New Product Strategy – Innovators have clearly defined their goals and objectives for the new product. #Knowing Your Consumer – Doing market research or finding market research reports to understand the needs, problems, tastes, and desires of the consumer. #Idea Generation – Collective brainstorming ideas through internal and external sources. #Screening – Condense the number of brainstormed ideas. #Concept Testing – Structure an idea into a detailed concept. #Business Analysis – Understand the cost and profits of the new product and determining if they meet company objectives. #Product Development – Developing the sample, this involves the putting together of ideas and materials to form a testing product to the market. #Market Testing – Marketing mix is tested through a trial run of the product. #Commercialization – Introducing the product to the public. #Evaluation – Involves research to monitor the progress of new service offering in relation to organizational goals.


Models

Conceptual models have been designed in order to facilitate a smooth process. * IDEO approach. The concept adopted by IDEO, a design and consulting firm, is one of the most researched processes in regard to new product development and is a five-step procedure. These steps are listed in chronological order: # Understand and observe the market, the client, the technology, and the limitations of the problem; # Synthesize the information collected at the first step; # Visualise new customers using the product; # Prototype, evaluate and improve the concept; # Implementation of design changes, which are associated with more technologically advanced procedures and therefore will require more time * BAH Model. One of the first developed models that today companies still use in the NPD process is the Booz, Allen and Hamilton (BAH) Model, published in 1982. This is the best known model because it underlies the NPD systems that have been put forward later. This model represents the foundation of all the other models that have been developed afterwards. Significant work has been conducted in order to propose better models, but in fact these models can be easily linked to BAH model. The seven steps of the BAH model are: new
product strategy Product strategy defines the high-level plan for developing and marketing a product, how the product supports the business strategy and goals, and is brought to life through product roadmaps. A product strategy describes a vision of the future wit ...
, idea generation, screening and evaluation, business analysis, development, testing, and commercialization. * Stage-gate model. A pioneer of NPD research in the consumers goods sector is Robert G. Cooper. Over the last two decades he conducted significant work in the area of NPD. The Stage-Gate model developed in the 1980s was proposed as a new tool for managing new products development processes. This was mainly applied to the consumers goods industry. The 2010 APQC benchmarking study reveals that 88% of U.S. businesses employ a stage-gate system to manage new products, from idea to launch. In return, the companies that adopt this system are reported to receive benefits such as improved teamwork, improved success rates, earlier detection of failure, a better launch, and even shorter cycle times – reduced by about 30%. These findings highlight the importance of the stage-gate model in the area of new product development. * Lean Start-up approach.
Lean startup Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-dri ...
is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning. Lean startup emphasizes customer feedback over intuition and flexibility over planning. This methodology enables recovery from failures more often than traditional ways of product development. * Exploratory product development model. Exploratory product development, which often goes by the acronym ExPD, is an emerging approach to new product development. Consultants Mary Drotar and Kathy Morrissey first introduced ExPD at the 2015
Product Development and Management Association The Product Development and Management Association (PDMA) is a non-profit professional society that organizes and publishes information about the development of new products. Founded in 1976, they currently have about 3500 members worldwide, wit ...
annual meeting and later outlined their approach in the Product Development and Management Association's magazine ''Visions''. In 2015, their firm Strategy2Market received the trademark on the term "Exploratory PD". Rather than going through a set of discrete phases, like the
phase-gate process A phase-gate process (also referred to as a stage-gate process or waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) ...
, exploratory product development allows organizations to adapt to a landscape of shifting market circumstances and uncertainty by using a more flexible and adaptable product development process for both hardware and software. Where the traditional phase-gate approach works best in a stable market environment, ExPD is more suitable for product development in markets that are unstable and less predictable. Unstable and unpredictable markets cause uncertainty and risk in product development. Many factors contribute to the outcome of a project, and ExPD works on the assumption that the ones that the product team doesn't know enough about or are unaware of are the factors that create uncertainty and risk. The primary goal of ExPD is to reduce uncertainty and risk by reducing the unknown. When organizations adapt quickly to the changing environment (market, technology, regulations, globalization, etc.), they reduce uncertainty and risk, which leads to product success. ExPD is described as a two-pronged, integrated systems approach. Drotar and Morrissey state that product development is complex and needs to be managed as a system, integrating essential elements: strategy, portfolio management, organization/teams/culture, metrics, market/customer understanding, and process.


Marketing considerations

There have been a number of approaches proposed for analyzing and responding to the marketing challenges of new product development. Two of these are ''the eight stages'' process of Peter Koen of the
Stevens Institute of Technology Stevens Institute of Technology is a private research university in Hoboken, New Jersey. Founded in 1870, it is one of the oldest technological universities in the United States and was the first college in America solely dedicated to mechanical ...
, and a process known as ''the fuzzy front end.''


Fuzzy front end

''The fuzzy front end'' (FFE) is the messy "getting started" period of new product engineering development processes. It is also referred to as the "Front End of Innovation", or "Idea Management". It is in the front end where the organization formulates a concept of the product to be developed and decides whether or not to invest resources in the further development of an idea. It is the phase between first consideration of an opportunity and when it is judged ready to enter the structured development process (Kim and Wilemon, 2007; Koen et al., 2001). It includes all activities from the search for new opportunities through the formation of a germ of an idea to the development of a precise concept. The Fuzzy Front End phase ends when an organization approves and begins formal development of the concept. Although the fuzzy front end may not be an expensive part of product development, it can consume 50% of development time (see Chapter 3 of the Smith and Reinertsen reference below), and it is where major commitments are typically made involving time, money, and the product's nature, thus setting the course for the entire project and final end product. Consequently, this phase should be considered as an essential part of development rather than something that happens "before development", and its cycle time should be included in the total development cycle time. Koen et al. (2001) distinguish five different front-end elements (not necessarily in a particular order): # Opportunity Identification # Opportunity Analysis # Idea Genesis # Idea Selection # Idea and Technology Development * The first element is the opportunity identification. In this element, large or incremental business and technological chances are identified in a more or less structured way. Using the guidelines established here, resources will eventually be allocated to new projects, which then leads to a structured NPPD (New Product & Process Development) strategy. * The second element is the opportunity analysis. It is done to translate the identified opportunities into implications for the business and technology specific context of the company. Here extensive efforts may be made to align ideas to target customer groups and do market studies and/or technical trials and research. * The third element is the idea genesis, which is described as evolutionary and iterative process progressing from birth to maturation of the opportunity into a tangible idea. The process of the idea genesis can be made internally or come from outside inputs, e.g. a supplier offering a new material/technology or from a customer with an unusual request. * The fourth element is the idea selection. Its purpose is to choose whether to pursue an idea by analyzing its potential business value. * The fifth element is the idea and technology development. During this part of the front-end, the business case is developed based on estimates of the total available market, customer needs, investment requirements, competition analysis and project uncertainty. Some organizations consider this to be the first stage of the NPPD process (i.e., Stage 0). A universally acceptable definition for Fuzzy Front End or a dominant framework has not been developed so far. In a glossary of PDMA, it is mentioned that the fuzzy front end generally consists of three tasks: strategic planning, idea generation, and pre-technical evaluation. These activities are often chaotic, unpredictable, and unstructured. In comparison, the subsequent new product development process is typically structured, predictable, and formal. The term ''fuzzy front end'' was first popularized by Smith and Reinertsen (1991). R.G. Cooper (1988) it describes the early stages of NPPD as a four-step process in which ideas are generated (I), subjected to a preliminary technical and market assessment (II) and merged to coherent product concepts (III) which are finally judged for their fit with existing product strategies and portfolios (IV).


Other conceptualisations

Other authors have divided predevelopment product development activities differently.


Phase zero of the Stage-Gate model of NPD

The Stage-Gate model of NPD predevelopment activities are summarised in Phase zero and one, in respect to earlier definition of predevelopment activities: # Preliminary # Technical assessment # Source-of-supply assessment: suppliers and partners or alliances #
Market research Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Mark ...
: market size and segmentation analysis, VoC (
voice of the customer In marketing, the voice of the customer (VOC) summarizes customers' expectations, preferences and aversions. A widely used form of VOC market research produces a detailed set of customer wants and needs, organized into a hierarchical structure, ...
) research # Product idea testing #
Customer value In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business value expands concept of value of the firm beyond economic value (also known as economi ...
assessment # Product definition # Business and financial analysis These activities yield essential information to make a Go/No-Go to Development decision. These decisions represent the Gates in the Stage-Gate model.


Early phase of the innovation process

A conceptual model of front-end process was proposed which includes early phases of the innovation process. This model is structured in three phases and three gates: * Phase 1: Environmental screening or opportunity identification stage in which external changes will be analysed and translated into potential business opportunities. * Phase 2: Preliminary definition of an idea or concept. * Phase 3: Detailed product, project or service definition, and business planning. The gates are: * Opportunity screening * Idea evaluation * Go/No-Go for development The final gate leads to a dedicated new product development project. Many professionals and academics consider that the general features of Fuzzy Front End (fuzziness, ambiguity, and uncertainty) make it difficult to see the FFE as a structured process, but rather as a set of interdependent activities ( e.g. Kim and Wilemon, 2002). However, Husig et al., 2005 0argue that front-end not need to be fuzzy, but can be handled in a structured manner. In fact Carbone showed that when using the front end success factors in an integrated process, product success is increased. Peter Koen argues that in the FFE for incremental, platform and radical projects, three separate strategies and processes are typically involved. The traditional Stage Gate (TM) process was designed for incremental product development, namely for a single product. The FFE for developing a new platform must start out with a strategic vision of where the company wants to develop products and this will lead to a family of products. Projects for breakthrough products start out with a similar strategic vision, but are associated with technologies which require new discoveries.


Activity view on fuzzy-front end

Predevelopment is the initial stage in NPD and consists of numerous activities, such as: * product strategy formulation and communication * opportunity identification and assessment * idea generation * product definition * project planning * executive reviews Economical analysis, benchmarking of competitive products and modeling and prototyping are also important activities during the front-end activities. The outcomes of FFE are the: * mission statement * customer needs * details of the selected idea * product definition and specifications * economic analysis of the product * development schedule * project staffing and the budget * business plan aligned with corporate strategy Incremental, breakthrough, and platform products include: * ''Incremental products'' are considered to be cost reductions, improvements to existing product lines, additions to existing platforms and repositioning of existing products introduced in markets. * ''Breakthrough products'' are new to the company or new to the world and offer a 5–10 times or greater improvement in performance combined with a 30–50% or greater reduction in costs. * ''Platform products'' establish a basic architecture for a next generation product or process and are substantially larger in scope and resources than incremental projects.


Strategies

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Lean product development Lean product development (LPD) is a lean approach to counter the challenges of product development, notably: * Lack of innovative solutions * Long development cycle times * Many redevelopment cycles * High development costs * Long production cy ...
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Design for six sigma Design for Six Sigma (DFSS) is an Engineering design process, business process management method related to traditional Six Sigma.Chowdhury, Subir (2002) Design for Six Sigma: The revolutionary process for achieving extraordinary profits, Prenti ...
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Quality function deployment Quality function deployment (QFD) a method developed in Japan beginning in 1966 to help transform the voice of the customer into engineering characteristics for a product.Larson et al. (2009). p. 117. Yoji Akao, the original developer, described QF ...
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Phase–gate model A phase-gate process (also referred to as a stage-gate process or waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, Continual improvement process, process i ...
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User-centered design User-centered design (UCD) or user-driven development (UDD) is a framework of process (not restricted to interfaces or technologies) in which usability goals, user characteristics, environment, tasks and workflow of a product, service or proce ...


Management

The quote "Innovate or die!" is widely attributed to Peter F Drucker, but this attribution has been disputed. Regardless, the quote stands true, and the year 2018, for example, saw the failure of many large brands, likely due to the lack of importance placed on innovation and new product development.


Customer-Centric NPD

Customer-centric new product development focuses on finding new ways to solve customer problems and create more customer-satisfying experiences. Companies often rely on technology, but real success comes from understanding customer needs and values. The most successful companies were the ones that differentiated from others, solved major customer problems, offered a compelling customer value proposition, and engaged customers directly.


Team-based NPD

Team-based new product development involves various company departments working closely together to overlap the steps in the product development process, which saves time and increases effectiveness. Departments that typically work together in cross-functional teams are legal, marketing, finances, design and manufacturing, suppliers and customer companies. If there is a problem, all the companies can work together to resolve it. Thanks to digital technology, customer co-creation has become an important part of the new product development process. This allows companies to get customer feedback and input early on in the process to ensure that they are developing a product that customers actually want.


Systematic NPD

Systematic new product development focuses on creating a process that allows for the collection, review, and evaluation of new product ideas. This helps to ensure that good ideas are not lost and that the company is able to develop products that meet customer needs and desires. It also allows for the management of new product development from a holistic and systematic perspective, which can help increase the chances of success for new products. Having a way in which employees, suppliers, distributors, and dealers become involved in finding and developing new products is important to a company's success. It is also important for companies to have a process in place for monitoring the competition and their products so that they can stay ahead of the curve.


Innovation Management

In order to successfully manage the new product development process, companies must have an
innovation management Innovation management is a combination of the management of innovation processes, and change management. It refers to product, business process, marketing and organizational innovation. Innovation management is the subject of ISO 56000 (formerly ...
system in place. This system helps to ensure that all aspects of new product development are taken into account and that the company is able to track and assess the progress of new products. The innovation management system should also help to foster a culture of innovation within the company, which can help to increase the chances of success for new products.


= Innovation Manager

= An innovation manager is a senior person appointed to be responsible for implementing and managing the innovation management system. They are also responsible for ensuring that all aspects of new product development are taken into account and that the company is able to track and assess the progress of new products. The role of the innovation manager is becoming increasingly important, as more and more companies are realizing the importance of innovation and new product development. In order to be successful, companies must place a high priority on innovation and have the right tools in place to manage the process. Only then can they hope to create innovative and successful new products.


= Cross-functional Innovation Management Committee

= A cross-functional innovation management committee is a team of individuals from different company departments,including
marketing Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
, engineering, design, manufacturing, and
research and development Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existi ...
, who are responsible for overseeing and managing the new product development process. This committee helps to ensure that all aspects of new product development are taken into account and that the company is able to track and assess the progress of new products. Companies may get a better overall picture of new product development by putting together a cross-functional team, which can help generate fresh ideas and give assistance in evaluating them.


NPD in turbulent times

In difficult economic times, it is even more important for companies to focus on innovation and new product development. Oftentimes, such situations result in a short-sighted focus on cost-cutting and a reduction in spending on new products. However, companies that are able to innovate and create new products will be better positioned for the future. Although counter-intuitive, tough times may even call for a greater emphasis on new product development. This is because companies need to find ways to meet the changing needs and tastes of their customers. Innovation can help a company become more competitive and better positioned for the future. In difficult economic times, it is even more important for companies to focus on innovation and new product development. In addition, companies can use virtual product development to help reduce costs. Virtual product development uses collaboration technology to remove the need for co-located teams, which can result in significant cost savings such as a reduction in G&A (general & administrative) overhead costs of consulting firms. Another way to reduce the cost of new product development is through the use of 24-hour development cycles. This approach allows companies to develop products more quickly and at a lower cost. By using a 24-hour cycle, companies can shorten the time it takes to get a product to market, which can give them a competitive advantage and capability that can be extremely useful in cases where there is a sudden change in market conditions or customer needs. In difficult economic times, it is even more important for companies to focus on innovation and new product development. By using a variety of methods, such as virtual product development and 24-hour development cycles, companies can reduce the cost of new product development and improve their chances of success.


Product Development Roles

There are many different roles in a product development team, however below is a list of some of the more common ones:


Related fields

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End user In product development, an end user (sometimes end-user) is a person who ultimately uses or is intended to ultimately use a product. The end user stands in contrast to users who support or maintain the product, such as sysops, system administrat ...
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Brand management In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is per ...
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Engineering Engineering is the use of scientific method, scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad rang ...
*
Industrial design Industrial design is a process of design applied to physical Product (business), products that are to be manufactured by mass production. It is the creative act of determining and defining a product's form and features, which takes place in advan ...
*
Marketing Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
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Product management Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market. Product managers are responsible for ...


See also

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Choice modelling Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts. Typically, it attempts to use discrete choices (A over B; B over A, B & C) ...
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Commercialization Commercialization or commercialisation is the process of introducing a new product or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into ear ...
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Conceptual economy Conceptual economy is a term describing the contribution of creativity, innovation, and design skills to economic competitiveness, especially in the global context. History and background Alan Greenspan, former chairman of the Federal Reserve ...
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Ideation (creative process) Ideation is the creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be either visual, concrete, or abstract. Ideation comprises all stages of a thought cycl ...
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Innovation Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity ...
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Market penetration Market penetration refers to the successful selling of a good or service in a specific market. It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service. Market pe ...
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Open innovation Open innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have bee ...
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Packaging Packaging is the science, art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of designing, evaluating, and producing packages. Packaging can be described as a co ...
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Pro-innovation bias In diffusion of innovation theory, a pro-innovation bias is the belief that an innovation should be adopted by whole society without the need of its alteration. The innovation's "champion" has such strong bias in favor of the innovation, that they m ...
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Product lifecycle In industry, Product Lifecycle Management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PL ...
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Requirements management Requirements management is the process of documenting, analyzing, tracing, prioritizing and agreeing on requirements and then controlling change and communicating to relevant stakeholders. It is a continuous process throughout a project. A require ...
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Social design Social design is the application of design methodologies in order to tackle complex human issues, placing the social issues as the priority. Historically social design has been mindful of the designer's role and responsibility in society, and of th ...
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Soft launch A soft launch, also known as a soft opening, is a preview release of a product or service to a limited audience prior to the general public. Soft-launching a product is sometimes used to gather data or customer feedback, prior to making it widely ...
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Engineering information management Engineering information management (EIM) is the business function within product development and specifically systems engineering that allows engineers to collaborate on a single source of truth of engineering data. Contrary to product data managem ...


References


External links

* {{DEFAULTSORT:New Product Development Beginnings Design Industrial design Systems engineering