almost 6 years ago
Cornelius Fichtner once said-Planning without action is futile, action without planning is fatal.
Certainly, this aforementioned saying hides the ideology behind a product development. Developing a product all of a sudden can push you toward the brink of bankruptcy. On the flip side, if you plan, but do not make it happen, it will be a wish only.
What it means is that coining an idea and execution are the two sides of the same coin. If either is missing, the coin will lose its identity. Therefore, the planning and the product development are interwoven. Their interrelation lets you come up trump in the business domain.
Let’s catch what the product development is and how to produce development.
Also known as new product development, the product development is a cycle of process. It seeds of the idea of conceptualization. Architecting design, developing and marketing trail it. In the nutshell, the product development is deriving a concept of what to be launched, how it will look, how to carry out its manufacturing and marketing respectively.
Let’s say, you’re willing to roll out a new cleaning device. You cannot turn blind to “how, where, why, and when” before kicking in manufacturing. For sure, foreseeing the intentions of your target audience will prove a silver lining. If you’re a naïve, the outsourcing market research companies can come with lots of ways to do market research. They can come up with lots of ideas to commence manufacturing of the intended product.
By the product development, you aim at cultivating, maintaining and increasing company’s footprints in the market. While doing so, the smart manufacturers always listen to the voice of the customers first. Subsequently, they come to putting efforts in studying the intentions of the target audience.
Drill into your head the fact that it is not necessary that your dream-product will be a want of everyone in the target audience. To get off such appealing problem, you ought to gear up with the quantitative market research. Kick in the research early. Continue it when it is being designed and carry it forward post launch.
A framework determines the anatomy or structure of the product development process. The veterans always follow a hierarchy of approach to guide through the entire process. There are some frameworks, such as the Fuzzy Front End (FFE), which come with a set of predefined hierarchy of approaches. You can easily come across them and pick up the best ones that you can execute like a walkover. They can be, but not limited to, these approaches:
· Identify the design elements to be woven into its development.
· Analyse the design and looming ideas to evaluate challenges and feasibility within a contextual spectrum of consumers.
· Conceptualise its tangibility to measure the lingering opportunities.
· Run prototyping or create the first draft (rough model) of the product, rather than being presented with a refined final product.
· Developing the concept into a real shape with the view of business and harvesting value.
· Testing the product through reviews and feedbacks of a few customers.
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