UX. New product development. Complete process of bringing a new product to market The product can be tangible (something physical which one can touch) or intangible (like a service or experience), though sometimes services and other processes are distinguished from "products. "NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market.[3] Cost, time, and quality are the main variables that drive customer needs.
Aiming at these three variables, innovative companies develop continuous practices and strategies to better satisfy customer requirements and to increase their own market share by a regular development of new products. There are many uncertainties and challenges which companies must face throughout the process. [2] Product Development: Process Structure[edit] The development process is articulated and broken down in many different ways, many of which often include the following phases/stages: PHASE 1.
The first element is the opportunity identification.
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