What is New Product Development (NPD)?

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.

FAQs

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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