What is New Product Development (NPD)?

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New Product Development Definition

New product development (NPD) is the overall process of conceptualizing, designing, planning, and commercializing a new product in an effort to bring it to market. There are several different approaches to this process. Some approaches are customer centered, team based, or systematic as examples.

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What are the stages of new product development?

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What are the objectives of new product development?

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Why is new product development important to a business?

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What are the steps of new product development?

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