What are the main stages in new product development?
Customers are a good starting point. Look at what they want from a new or improved product. Some businesses like to think in terms of a ‘unique selling proposition’ (USP) – a clear reason why customers should switch to your product. Prepare a product specification (spec) listing what features your product must have, and how they translate into specific requirements. For example, a product might need to be strong but also lightweight. You will also want to specify other constraints: for example, whether the product needs to match other products in your range or to meet specific legal requirements. The design phase uses this spec to design the product. Effective design is wide-ranging. As well as fulfilling the product spec, it includes considering how component and processing costs can be minimised. As the design progresses, you may have one or more pre-launch stages when you test the product. For example, you might develop a prototype (see 8) or you might launch a pilot version of the
