It’s exciting to create a brand-new product. On the other side, it is also not easy to perform a product development process. From the beginning of a concept to research and development, no two product launches are the same. Therefore, it takes several sufficient steps to perform it.
To assist you to get started with the product development process, there is a procedure. There are about seven stages that must be taken from the first product concept to its official market launch. It entails determining market demands, investigating rivals, starting solutions, constructing product roadmaps, and coming up with workable standard goods. For more detail on the stages, check the following paragraphs.
Find Suitable Idea
The initial stage of the product development process begins with generating new product ideas. The initial idea stage is when brainstorming about the concept of the product based on customer needs, price, and market research.
To validate the product concept, consider documenting the idea in the form of a business case. It allows all team members to have a clear understanding of the initial product features and the purpose of the new product launch.
Filtering New Product Ideas
Once collected, the findings of these product ideas will go through the screening stage. In addition to pursuing ideas, the purpose of this filtering is to reduce the risk of product failure, find a product idea worth processing to the next step, and get product ideas that are possible to work.
The process of filtering ideas cannot be done carelessly. The decision on choosing a product idea must take into account several things. It is including necessary processes and resources owned, stages, means, and capabilities of production.
Product Definition
After completing the business case and discussing the target market and product functions, it’s time to determine the product. This stage of the product development process is also referred to as the assessment or development of the concept and focuses on refining the product strategy. Once these ideas have been determined, it’s time to start building a viable standard product (MVP) with an initial prototype.
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Prototyping
During the prototyping phase, the team will intensively research and document the product by creating a more detailed business plan and putting together the product. These early-stage prototypes can be as simple as drawing or rendering more complex computers regarding the initial design. These prototypes help identify areas of risk before creating a product. Therefore, it is another product development process stage that needs specific considerations.
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Validation and Testing
To launch a new product, you must first validate and test it. This stage ensures that every part of the product, from development to marketing, functions before it is released to the public.
To ensure product quality, do the following:
- Concept development and testing: You may be successful in designing a prototype, but still have to address issues that arise when developing a concept. It involves the development of software or the physical production of the initial prototype. Perform a function test by enlisting the help of team members and beta testers to ensure the quality of development.
- Front-end testing: During this stage, test the front-end functions for the risk of development code or errors that directly impact consumers. It includes checking the e-commerce functionality and ensuring it is stable for launch.
- Marketing test: Before starting to manufacture the final product, test the marketing plan related to functions and errors. It’s time to make sure that all campaigns are properly prepared and ready to launch.
Marketing Strategy Development
The next process of the product development process is the preparation of a marketing strategy. This process aims to find ways to make your product acceptable to the target market. In developing a marketing strategy, three important points must be designed properly, namely:
- The target market, value proposition plan, market share, profit target, and sales of the first few years are explained in detail.
- Marketing mix strategy and long-term sales plan related to the developed products.
- The costs that marketing requires and the structure and methods of pricing are made in the big picture. Therefore, further research in this section will be needed as necessary.
Start Commercialization
Once the company gets an idea of the potential success of the product in the market, that’s when it can only be decided whether the product will still be launched on the spot, postpone for some time, or even cancel in its entirety.
If the company decides to launch a product, then there should be a carefully prepared commercialization plan. The stages of commercialization include the preparation of large-scale product manufacturing, to the preparation of product marketing.
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Conclusion
After knowing the importance of the product development process, now you can be more focused on planning new product development. So that it can result in the most suitable new product that will bring your company to succeed.
However, don’t forget that in addition to increasing the variety of products, many other important factors have a big influence on the success of a business. Including selecting a good marketing strategy, especially if it is supported by the right market analysis and research. As mentioned previously, marketing can be one of the crucial parts of your product development process.
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