New product development.pptx process involved in product development

NEW PRODUCT DEVELOPMENT

1. New product development

2. Definition of new product development New product development is the overall process of conceptualizing, designing, planning and commercializing a new product in an effort to bring it to market.

3. THERE ARE TWO TERMS INVENTION INNOVATION

4. Process of new product development Idea Generation Idea Screening Concept development & Testing

5. Prototype Development Market Testing Commercialization Launch

6. Post Launch Evolution Feedback