Is the process of innovating, designing, developing, testing and deploying a software product.
Key stages of the product development process
The process can be divided into eight key stages:
1. Idea generation – brainstorming and coming up with innovative new ideas.
2. Idea evaluation - screening out any ideas not worth taking forward.
3. Concept definition - considering specifications such as technical feasibility, product design and market potential.
4. Strategic analysis - ensuring your ideas fit into your business' strategic plans and determining the demand, the costs and the profit margin.
5. Product development and testing - creating a prototype product or pilot service.
6. Market testing - modifying the product or service according to customer, manufacturer and support organisations' feedback. This involves deciding the best timing and process for piloting your new product or service.
7. Commercialisation – determining the pricing for your product or service and finalising marketing plans.
8. Product launch – a detailed launch plan can help ensure smooth introduction to market.