What is a Product Development Process?

Product Development Process Definition

The product development process refers to the entire process required to bring a new product from the initial concept stage through commercialization. Product development begins by determining whether there is a consumer need for a given product. Once the need is confirmed, competitive research begins. The product development process covers the initial product concept, competitive evaluation, design, prototyping, testing, volume production, and delivery of the finished product to market.

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What are the 5 stages of product development?

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