Product development is the process of developing or creating an original product idea and bringing the idea to the market. Consumer products development is the process of developing a new product idea caused by and based on a consumer need.
This means all consumer product developments are triggered by consumer needs. In order for the idea to be introduced to the market, it must go through certain phases where new potential products are evaluated if they can meet consumer expectations. Here are these phases explained.
The Consumer Needs
Every consumer product development is caused by consumer needs, and all the ideas thereafter are based on these needs. In identifying consumer needs, there must be a problem that triggers the need. And this is where product design comes in.
It also is a whole process involving gathering data through different ways such as surveys, interpreting the data gathered in terms of consumer needs, organizing these needs, and reflecting on the whole process.
The Product Development Process
Once a need has been identified, the next phase is the whole product development process. There are a lot of principles that will be applied here as well as the involvement of different professionals in different areas. This includes product designers, user experience designers, user interface designers, and more.
Check out this breakdown of the entire process;
- Idea generation
This is the very first phase of the entire product development process. You want to come up with new product design ideas. Based on consumer needs, market research, and user research, you first brainstorm ideas and product concepts.
Make sure to keep in mind these factors;
- Target market
- Existing products
- SWOT analysis
You can document these ideas in the form of a business case, to validate the product concept. This will give the team a clear understanding of the product features, objectives, and goals.
During this phase, it is important to work on elements such as;
- Market risk research to analyze any potential risks that you are bound to come across in your product development process
- Development strategy is also a factor you want to work on to develop and begin your working plan. Every successful project needs a strategy and product development is not an exception.
- Feasibility Analysis is the next factor to evaluate. You won’t find out if it is possible to accomplish the workload during the estimated timeline.
Product designing is the next important phase of product development. This includes coming up with ideas on how you want the product to look, keeping in mind the functions of the products and how it will help solve a consumer problem.
Creating the Product
Creating the product is the next important phase in the process. This is where you gather the materials, and secure partners you will need for product creation. It involves all the vendors and activities involved in bringing the product to life, as planned and designed. It may also involve factoring storage, shipping, warehousing, and such, depending on your plan.