PRODUCT DEVELOPMENT
your own product development roadmap
No two product roadmaps will look the same, but the product development process should always cover the same types of bases. Follow this six-step guide, from idea generation to planning to launch, and you’ll be on the right path. As you become more familiar with your industry, the pieces of your unique product development cycle will continue to unfold.
product development strategy
A product development strategy is the process of bringing a new product into an existing or new
market by doing continuous market research, thorough testing, and careful product concept
planning. It can also be about bringing an existing product to a new market.
The 6 stages of product development
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Idea generation
The initial stage of the product development process begins by generating new product ideas. This is the product innovation stage, where you brainstorm product concepts based on customer needs, conduct concept testing, and conduct market research.
Product definition
Once you’ve completed the business case and discussed your target market and product functionality, it’s time to define the product. This is also referred to as scoping or concept development, and focuses on refining the product strategy.
Prototyping
During the prototyping stage, your team will intensively research and document the product by creating a more detailed business plan and constructing the product. These early-stage prototypes might be as simple as a drawing or a more complex computer render of the initial design
Initial design
During the initial design phase, project stakeholders work together to produce a mockup of the product based on the MVP prototype. The design should be created with the target audience in mind and complement the key functions of your product.
Validation and testing
To go live with a new product, you first need to validate and test it. This ensures that every part of the product—from development to marketing—is working effectively before it’s released to the public.
Commercialization
Now it’s time to commercialize your concept, which involves launching your product and implementing it on your website. By now, you’ve finalized the design and quality-tested your development and marketing strategies. You should feel confident in your final iteration and be ready to produce your final product.