Product development process

Idea Generation

Stage where companies come up with new product ideas from customers, employees, competitors, or trends.

Idea Screening

Step where companies remove bad ideas and keep the ones that seem realistic and profitable.

Concept Development & Testing

The company takes a good idea and turns it into a clear product concept, then tests it with potential customers.

Business Analysis

Stage where the company asks questions like will this product make money, how much will it cost to make, and how big is the market.

Product Development

The idea becomes a real physical product for the first time, with a prototype made to test design, quality, and performance.

Market Testing

The company releases the product in a smaller test market or sample audience to get real feedback before a full launch.

Commercialization (Full Launch)

The product is officially launched into the market, with decisions on where to sell, how to advertise, and when to release it.