Process of Product Development

A Product goes through a series of steps before it reaches the market.

It all starts with an idea. The idea needs to be further researched to see the feasibility of production. After this a market research might be conducted to find out potential demand. If the marketing department sees a potential market, a prototype is developed which is then tested in a limited market. Feedback is taken and if necessary changes are made to the product to suit it to the market. Once the product is finalised the product is launched onto the main market.

Process of new product development

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