What is Product Development - A Beginner's Guide
Introduction: Product development is a crucial process that transforms an idea into a tangible product, ready for the market. Whether you're a budding entrepreneur or just curious about the business world, understanding the basics of product development is essential. This beginner's guide will walk you through the key aspects of product development, from concept to market launch. 1. Definition of Product Development: Product development is the systematic process of creating, designing, and bringing a new product or service to the market. It involves a series of steps and activities aimed at meeting the needs and expectations of the target audience. 2. Key Stages of Product Development: Idea Generation : The process begins with brainstorming and generating ideas. This phase is about identifying problems or needs in the market that your product can address. Feasibility Study : Assess the viability of your idea by considering factors su...