New Product Development

NEW PRODUCT DEVELOPMENT

In business and engineering, new product development (NPD) is the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief). There are two parallel paths involved in the NPD process: one involves the idea generation, product design and detail engineering; the other involves market research and market analysis.

Companies typically see new product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management used to maintain or grow their market share. Product life-cycle is the succession of strategies used by business management as a product goes through its life-cycle. The condition in which the product is sold (advertising, saturation) changes over time and must be arranged as it moves through its succession of stages. We create the mainstream for this and provide strategic management for the product life cycle.

We offer NPD Strategies which include:

  • Lean product development
  • Design for six sigma
  • Flexible product development
  • Quality function deployment
  • Phase –gate model
  • User-centered design