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uct Development: 6 Steps to Success

Are you looking for the next big thing? Or perhaps you want to improve an already existing idea. There are many uses for it in product development. It can produce amazing results for entrepreneurs and businesses who apply it properly.

However, there is a major problem: the product development process can seem overwhelming and even confusing for many. It can be difficult to determine what steps should be taken at the right moment and where it applies.

This article will cover the basics of product development and show you some examples.

Idea generation
Market and product research
Business and product planning
Prototyping
Sourcing and manufacturing
Product launch

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What’s product development?

Product development is the process of bringing a product to market. This involves the creation of the product, gathering feedback, identifying the audience, creating a product roadmap and launching it. Product development can be used to revamp an existing product or introduce a new product to a new market.

No one person is responsible for product design in any company. Product development can be done by any department in a company, whether it is an established firm or a startup. This includes engineering, manufacturing, UI/UX and product marketing. Every unit plays an important role in the creation, management, testing, and release of the product.

What’s new product development (NPD),?

Product design is a constant process of new product development. You can keep iterating on the product until the end of its life cycle. This allows you to add new features and enhance existing ones. Stakeholders can also continue collecting user feedback to improve future products. Product design is crucial because of changing customer preferences.

Product development in 6 steps

Each product roadmap is different. However, there are six steps that every product team should follow to make sure they have covered all bases. Let’s take a look at each one.

1. Idea generation

Many entrepreneurs struggle to take the first step. Many entrepreneurs believe they must be inspired by an aha moment, something that has never been done before. Innovation can be achieved in small ways, however.

Think of the acronym SCAMPER when you consider all the possible approaches to product concept development:

Substitute to replace one material or element with another
Combining: merging two existing products or processes
Adapt: altering one element in an existing product or procedure
Modify: changing design or functionality of an already existing product or process
Use Finding new ways to implement products and processes
Remove: Getting rid of an element or step from an existing product or procedure
Reverse/rearrange changing the outcome of an existing product or procedure

2. Market and product research

Research is a crucial part of product development. You might discover later that you made mistakes. You could even find out that you spent a lot of time and resources creating a product your target market does not want to purchase.

Before you can start building your final product, you will need to have significant product validation. You can’t ask just a few people to like your idea. To find out more, you’ll need to dig deeper.

Creating surveys for opinions and suggestions
Connecting with other experts and potential users via online forums
Market research tools such as Google Trends or the Pew Research Center
Testing marketing is when you test your idea with a small number of people
Create a crowdfunding campaign to test your idea

3. Business and product planning

After you have validated your idea, it is time to plan. You will need to prepare detailed product sketches and 3D model for product planning. This will allow you to plan when prototyping and building can begin. Your ability to bring your ideas to life will improve if your blueprints are more detailed.

Other planning elements are also important for your product roadmap.

You can choose the specific materials that you need to make your product out of
What you want your packaging and labels to look
Pricing, which is calculating the cost per unit (similar to COGS or cost of goods sold), and then figuring out what price you should set the item at to make sure you are making a profit
Business planning. How you plan to manage the business and keep it afloat over the long-term

4. Prototyping

Now, it’s time for your masterpiece to come to life. You’ll be creating a prototype of your final product during prototyping. This will serve as your model for mass production.

It is possible that you will not get it right the first time, depending on what type of product it is. You may create several versions of your product and then choose the best one after you have had the chance to feel it in real life.

The goal of your project is to create a minimum viable product (MVP), a product that does the job but not have all the bells or whistles that you would like.

You may be able prototype your product yourself in some cases. For example, if you are a clothing designer who makes your own clothes. If you are developing electronics, toys, and accessories, however, you will need to find a manufacturer or partner to help you.

5. Sourcing and manufacturing

After you are satisfied with the product prototype, gather the materials and find manufacturing partners. Vendors, resources and other activities will power your product supply chain and help you get the product to your customers. This stage of product development is crucial for project management.

You can use both online and in-person resources to find producers. For example, you can attend trade shows that are focused on sourcing. Magic trade shows offer the chance to meet hundreds and discuss materials with suppliers. When it comes to negotiating, face-to-face interactions with vendors are valuable.

The span styling=”font-weight 400 ;”>, is the most used sourcing platform for manufacturers. Alibaba marketplace listings can be searched for raw materials and finished products. You can search the Alibaba marketplace for similar products and contact the factory to inquire if they can make your design.

6. Commercialization and product launch

It is now! Your product deserves to be seen by the world. This is the step where you will release your product to the world and take note of the initial feedback.

These are some of the ways you can get attention and sell your product in the initial stages.

Design a visually appealing website that clearly explains your product and allows users to purchase easily.
To generate email lists, host a giveaway or contest. Email marketing will be used to maintain those contacts.
Make sure you have the right distribution and marketing channels in place to ensure that your product is seen by the right people.
Create a strategy for social media marketing to increase engagement on platforms such as Facebook, Instagram and TikTok.
Partner with industry players, such as influencers.
Get involved in industry events, conferences and networking opportunities.

Product development examples

Food & beverage

Food and beverage products are one of the easiest to develop. Their development can be done from your home and at a very low cost. It is as easy as purchasing ingredients and creating a recipe in your own kitchen.

You will need a commercial kitchen license to produce food in order to make the transition from recipe to packaged food. If you are interested in mass production, a co-manufacturer may be a better choice.

Food product development requires you to also consider the following:

Dates of expiry. Consider the product’s life span and how you plan to package and store it to accommodate it.
Warnings and labels. There are many laws that you must follow regarding allergen warnings, dietary labels and health claims.

Beauty and cosmetic

A thriving market has emerged for cosmetics and beauty products that cater to the wellness and self-care trends. Many brands are now focusing on organic ingredients. This makes it easier to create a product from everyday materials, such as skin care, bath products, and makeup.

Another option is white-labeling in which you can find an existing manufacturer, package the products and then brand them. To ensure consistency in quality, cosmetic manufacturing must be done with a chemist or lab.

Additional factors to consider:

Shelf life. Add expiry labels to products.
Regulations. Find out which FDA regulations are applicable to your product packaging. Then, ensure that your product design conforms to these regulations. Many countries require that cosmetics manufacturers warn consumers about possible reactions to their products.

Create your product development plan

While product roadmaps may not look identical, the product development process should cover the same bases. This six-step guide will help you get on the right track, from idea generation to planning and launch. You will become more familiar with the industry and your product development cycle.

It is important to remember to be thorough, meticulous, well-prepared, and well-researched as you go about the process. Keep your mind open and be ready to change when new information is available.

Product development FAQ

What’s the difference between product management and product development?

Product development is the creation and ideation of new products. To make a product a reality, it incorporates a specific product strategy in the product lifecycle. Product management is the process of guiding all departments towards building a product that people will actually buy. These two departments collaborate to create the product roadmap that will bring the item to market.

How do I get product ideas?

Online consumer trends publications
B2B wholesale markets
Brainstorming
Social media
Studying competitors