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New product development (NPD) or product development in business and engineering covers the complete process of launching a new product to the market. Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design.
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
New product development (NPD) is the complete process of bringing a new product to market. Product engineering refers to the process of designing and developing a device, assembly, or system such that it be produced as an item for sale through some production manufacturing process. Product engineering usually entails activity dealing with ...
The new product development (NPD) process, often referred to as the Stage-Gate innovation process, was developed by Dr. Robert G. Cooper as a result of comprehensive research on reasons why products succeed or fail. [6] The process initially focuses on idea generation that defines the core product. [7]
Commercialisation or commercialization is the process of introducing a new product or production method into commerce—making it available on the market.The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commerce.
It refers to an approach used in product development in which functions of design engineering, manufacturing engineering, and other functions are integrated to reduce the time required to bring a new product to market. [1] By completing the design and manufacturing stages at the same time, products are produced in less time while lowering cost.
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