Stages of Product Development

What is Product Development?

Product development usually refers to all the stages involved in delivering a product from concept or vision through market release and beyond. In other words, product development encompasses the entire product journey.

General Phases of Progress in Product Development

There are many steps in this process, and it is not the same process for all organizations, but these are the most common stages in which products proceed:

• Identifying market demand.

Products solve problems. So pinpointing the problem that needs to be solved (or the best way to solve it) is where this journey should start. Potential customer interviews, surveys, and other user research activities may inform this step.

• Evaluate the opportunity.

Not all problems are problematic enough to find a product-based solution. However, the pain it causes and the number of people or organizations involved can determine if it is a problem that needs to be resolved again if people are willing to pay for the solution (either financially or their data).

• Conceptualizing the product.

Some solutions may be obvious, while others may be quite simple. This is where the team makes an effort and uses its ingenuity in designing how the product can meet its needs.

• Validating the solution.

Before a lot of time is spent on prototyping and design, whether the proposed solution works should be evaluated. Of course, this can still happen at the level of the mind. However, it is a preliminary test to see if a particular product idea should be promoted or will be rejected or accepted by the intended user.

• Building a product road.

With the concept of a legitimate product in hand, product management can create a product roadmap, identifying key themes and targets that are essential for development in order to address the most important pain points and sparks detection.

• Development of a small active product (MVP).

This first version of the product requires sufficient functionality to be used by customers.

• Releases MVP to users.

Testing can measure interest, prioritize marketing channels and messages, and begin testing the waters surrounding price sensitivity and packaging. It also initiates a feedback loop to bring in ideas, complaints, and suggestions to the priority program and compensate for product backlogs.

• Ongoing repetition based on user feedback and strategic objectives.

With a product on the market, enhancements, extensions, and changes will be driven by user feedback through various channels. Over time the product roadmap will change based on these readings and the goals the company sets for the product. This work does not end until it is time for the product to go down at the end of its life cycle.

Key Takeaways:

General Stages of Product Development start from identifying the problem and the market size for the solution you plan to deliver. Once you’ve got a worthy ‘problem’ and people are willing to pay for the solution. Then you need to start conceptualizing and start validation the product.

Product development can be tedious, as when the amazing idea you’ve meets the reality it will crash with the limitation of technology, and people who are willing to work with you on that idea.

Next steps the in product development will include planning a roadmap for your MVP release and evolving the product based on the user’s feedback.

Check out Growth Graphers Website to know more.

Dhruv Verma Written by:

Project Manager @GrowthGraphers

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