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February 9, 2013

Product Development: Processes and Steps

According to the literature, Product Development consists of the following processes and step/stages:

  1. Identify market opportunities, market segmentations, positioning, and marketing mix(4P's, 6P's etc).
  2. Identify customer needs.
  3. Generate product ideas, concepts, visuals and design of User Experience.
  4. Product Portfolio, product lines, product architecture, business cases and stage-gates
  5. Product life cycle management: Reinforcement, Renewal, Resurrection, Retirement
  6. MVP(minimal viable product) and prototyping
  7. Market testing
  8. Project management and WBD, Gantt chart, PERT chart etc
  9. Manufacturing
  10. Brand equity management, sales training, marketing in general
  11. Go-to-market efforst, distribution, logistics etc.
Our approach is more focused, more adaptive and more suitable for software businesses.

  Trends ---> UX ---> MVP prototyping ---> Market testing
  Needs  ---> UX  ---> MVP prototyping ---> Market testing

With the following iterative/feedback loops running throughout:

     Market testing---> Trends
      Market testing---> Needs
      Market testing---> UX
      Market testing---> MVP prototyping

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