29-06-2012, 01:41 PM
Meaning of product planning Concept of product development
Product Development Process
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Product Planning
Product Planning is the ongoing process of identifying and articulating that define a product’s feature set.
Product planning generates profit by identifying customer wants and needs and translating them into product and service specification.
Product Development: Definitions
Product development - The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product
Product development - improving an existing product or developing new kinds of products
Product Development
In business and engineering, product development is also known as new product development (NPD).
The term is used to describe the complete process of bringing a new product or service to market.
Companies typically see NPD as the first stage in generating and commercializing new products within the overall strategic process of product life cycle management used to maintain or grow their market share.
There are two parallel paths involved in the NPD process:
a. Idea generation, product design, and detail engineering
b. Market research and marketing analysis.