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Module 2 Product Development Process Revised

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27 views14 pages

Module 2 Product Development Process Revised

Uploaded by

marigenta8
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Product Development Process

Prepared by: Engr. Rhodora N. Buluran


The Product

Development

Process
1. Evaluate Opportunities and Select the Best
Product Idea
If you’re starting your first business, you might have only one product
idea. But existing organizations often have several ideas for new products, as
well as improvements to existing ones.

Where do they come from?


• They can come from individuals within the organization or from outside
sources, such as customers.
• Typically, various ideas are reviewed and evaluated by a team of individuals,
who identify the most promising ideas for development. They may rely on a
variety of criteria:
o Does the proposed product fill an unmet need of our customers?
o Will enough people buy our product to make it commercially successful?
o Do we have the resources and expertise to make it?
2. Get Feedback to Refine the Product Concept
From the selected product idea, the team generates an initial product
concept that describes what the product might look like and how it might work.
Members talk both with other people in the organization and with potential buyers Description of
to identify customer needs and the benefits that consumers will get from the what a new
product.
They study the industry in which the product will be sold and investigate product will
competing products. They brainstorm various product designs—that is, the look like and
specifications for how the product is to be made, what it’s to look like, and what how it will
performance standards it’s to meet.
work.
Based on information gathered through this process, the team will revise the
product concept, probably pinpointing several alternative models. Then they’ll go
back to potential customers and get their feedback on both the basic concept and
the various alternatives. Based on this feedback, the team will decide how the
product will look like, how it will work, and what features it will have.
3. Make Sure the Product Performs and Appeals to
Consumers
The team then decides
• how the product will be made,
• what components it will require, and
• how it will be assembled.

It will decide whether the product should be made


• in-house or
• outsourced to other companies.
For products to be made inhouse, the team determines where parts will be
obtained. During this phase, team members are involved in design work to ensure
that the product will be appealing,safe, and easy to use and maintain.
4. Design with Manufacturing in Mind
As a rule, there’s more than one way to make any product, and some
methods are more expensive than others. During the next phase,
therefore, the team focuses its attention on making a high-quality
product at the lowest possible cost, working to minimize the number
of parts and simplify the components. The goal is to build both
quality and efficiency into the manufacturing process.
5. Build and Test Prototypes
A prototype is a physical model of the product. In the next phase, prototypes are Physical
produced and tested to make sure that the product meets the customer needs that
it’s supposed to. The team usually begins with a preliminary prototype from which,
model of a
based on feedback from potential customers, a more sophisticated model will then new
be developed. The process of building and testing prototypes will continue until the product.
team feels comfortable that it has fashioned the best possible product. The final
prototype will be extensively tested by customers to identify any changes that need
to be made before the finished product is introduced.
6. Ramp Up Production and Run Market
Tests
Stage in the product development process during which employees
are trained in necessary production processes and new products
are tested.
7. Launch the Product
In the final stage, the firm starts ongoing production and makes the product
available for widespread distribution.
ASSIGNMENT

PRESENTATION ON
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FINISH
Two Content Layout with SmartArt
• First bullet point here
Group Task 1
• Second bullet point here A Task 2
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Task 1 Group
Task 2 B

Group Task 1
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Category 1 Category 2 Category 3 Category 4

Series 1 Series 2 Series 3


Two Content Layout with Table
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Class 2 76 88

Class 3 84 90

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