UBS

Product Development Process

What is the Product Development Process?

The product development process encompasses all actions involved in bringing a product from concept to market. This includes, among other things, identifying a market need, researching the competitive landscape, visualizing a solution, developing a product roadmap, and designing a minimum viable product.

The product development process has developed in recent years, and each step is now generally divided into six phases. This makes the process more organized and breaks down specific deliverables into smaller jobs. The following are the six steps:

  • Idea Generation 
  • Defining products 
  •  Prototyping 
  •  Initial Design 
  • Validation and Testing 
  • Commercialization

Also, See: Product life cycle

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