Product Design and Development

A complete cycle from product design to the launch of new products to the customer - from conceptualization to product deployment. The new products play an important role in the market by attracting more consumers and increasing the market share and growth of the business. Product development can be enhanced through the target market to meet the customer’s needs and wants. Through the market analysis from the customer base, feedback is taken and converted into action.

 

A product has to go through several stages in the product life cycle to get the best product to the customers. Product design plays a significant role as the product designer designs the prototypes and the organization tests the ideas through these prototypes. The product is reached to the target audience wherein the reviews are collected to further enhance the product and to establish the top position in the market. 

Stages of product development:

Ideation: Idea generation and screening play an important role in our organization. The Ideation team chooses the idea from the teams, that bring up innovative ideas along with the R&D team which develops the ideas. Analysis and filtering of ideas take place with the R&D team and choose the best idea which is profitable to the company and meets the customer’s demand.

Concept Development: The ideas are then transformed into concepts, where the marketer creates alternative product concepts from innovative ideas. The organization will compare the alternatives that are feasible and will meet the customer’s needs.

Business analysis: Management will decide if the product is feasible in terms of cost, profit, and sales during the business analysis. The product has to meet the customer demand, so we will conduct the survey and compare the product with similar products. The case studies of a similar product in the market to analyze and find out any possible risks and find out alternative solutions.

 

Product development: When the product ideas pass through the initial steps, it is converted into a substantial product. The prototype products are launched in the target marketplace to analyze how well the product reaches the consumer and meets their demands. Based on the market findings, the final product is built and launched. Various departments play a major role, the marketing team develops strategies to distribute the product, and the finance team manages the cost involved and calculates all the costs associated with the product, both profit, and loss. The advertising team builds various strategies to promote the product on various platforms.

Test marketing: Feedback is taken from the customers through the target market, where the prototype was launched. The team tests the different strategies that include targeting, placement, marketing, packaging, and finances. Feedbacker has been taken and deployed for further enhancement of the product.

Commercialization: After the test phase, and implementation n the feedback, the product is commercialized. Along with the launch strategies, all the departments will work together for the enhancement of the product.