9609 · 8.1.2
Product development
**Product development** (8.1.2) — case questions often ask **should they launch?** Use **stage-gate logic**: what evidence exists from **concept/test marketing**?
Need to know
What you need to know
- NPD is a multi-stage process to convert ideas into marketable products.
- It functions as a funnel, screening out weak ideas to reduce risk.
- Key stages include idea generation, screening, concept testing, business analysis, prototyping, test marketing, and launch.
- The primary goal is to minimise the high costs of product failure by making informed decisions.
Explanation
Product development
- NPD is a multi-stage process to convert ideas into marketable products.
- It functions as a funnel, screening out weak ideas to reduce risk.
- Key stages include idea generation, screening, concept testing, business analysis, prototyping, test marketing, and launch.
- The primary goal is to minimise the high costs of product failure by making informed decisions.