TECN01C Lesson 5 - Product Development and Prototyping

Product development

It is the process of creating, designing, and bringing a new product to the market.

Product development

It involves a series of steps, from conceptualization to market introduction, aimed at delivering a product that meets specific customer needs or solves a particular problem.

Product development

The process typically encompasses research, design, engineering, testing, and manufacturing, all geared toward ensuring that the final product is viable, functional, and marketable.

idea generation,

market research,

concept development,

product design,

prototype development,

testing, and

commercialization.

What is the key stages in product development? Give me all of that 7 stages.

value to customers

The ultimate goal of product development is to introduce innovative and competitive products that provide ______________________ and generate revenue for the organization.

generate revenue

The ultimate goal of product development is to introduce innovative and competitive products that provide value to customers and ________________________ for the organization.

Prototyping

It is a crucial phase within the product development process.

Prototyping

It involves the creation of a preliminary, often simplified, and representative model or sample of the product to test, evaluate, and refine its design and functionality.

Prototypes

It serve as tangible representations of the product concept, allowing designers, engineers, and stakeholders to visualize, test, and validate various aspects of the product before proceeding with full-scale production.

Prototyping

It can take many forms, including physical prototypes (physical models or mock ups) and digital prototypes (computer generated simulations or wireframes).

physical prototypes,

digital prototypes

Prototyping can take many forms, including _________________ (physical models or mock ups) and __________________ (computer generated simulations or wireframes).

design flaws,

user requirements,

risks

The primary objectives of prototyping are to identify and address _________________, verify that the product meets __________________, and reduce the _____________ associated with developing a full product that may not meet customer expectations.

Prototypes

It enable iterative development, facilitate stakeholder communication, and can save time and resources in the long run by catching and resolving issues early in the development process

Lean Startup

methodology and a set of principles for developing businesses and products that aim to reduce waste, improve efficiency, and increase the likelihood of creating successful, sustainable ventures. It was popularized by Eric Ries.

Eric Ries

Who popularized the book Lean Startup?

scientific method to the process

The core idea behind the Lean Startup is to apply the _________________________________________ of building and growing a startup or developing a new product. It emphasizes continuous experimentation, validated learning, and a build-measure-learn approach.