Get started free
Jul 24, 2024 • 8 minutes read
From concept to market: A step-by-step to the new product development
Learn how to create a successful new product development process with tips and best practices from produc
AUTHOR
Giada Gastaldello
Content Marketing Manager at …
TABLE OF CONTENTS
01. What is new product development (NPD)?
02. Types of new product development: When do you need an NPD process?
03. The 7 stages of new product development: A step-by-step process
04. Expert tips for creating a product development process
05. Get inspired: Nextflix’s real word new product development
06. Final notes on NPD
Share
New Product Development (NPD) is the set of design, engineering, and research processes that combine to create and launch a new pro
In today's competitive market, the ability to offer products that meet customers' needs and expectations has never been more important
Customer requirements, behaviors, technology, and competition are changing rapidly, and businesses cannot rely on existing products t
In this article, we explain what new product development is and break down its seven stages. We also share best practices for developing
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 1 of 11
:
In this article, we explain what new product development is and break down its seven stages. We also share best practices for developing
What is new product development (NPD)?
New product development refers to the complete process of bringing a new product to market. This can apply to developing an entirely
The emergence of NPD is driven by the need of companies to maintain a competitive advantage in the market by introducing new prod
NDP helps you:
Stay updated with new technology and trends
Beat the competition with creative solutions
Offer more products and find new streams of revenue
Adapt to changing customer needs
Use resources more efficiently
Improve your brand's image
Grow your business and ensure sustainability
Types of new product development: When do you need an NPD process?
NPD typically falls into one of these three types:
New-to-the-world products
These are innovative products that have never been designed and developed before. These products have the capacity to create entirely
New-to-the-firm products
These products already exist in the market but are new to the company. Like when a male grooming company, initially focused on razors
Additions to existing product lines
This involves introducing new versions or variations of existing products. For example:
Software updates that introduce new features, improved security, bug fixes, and user interface improvements
Revisions to an existing product's design, materials, or process to improve its functionality, durability, or cost-effectiveness
Upgrades or replacements of specific components or subsystems within a larger product to improve its overall capabilities or performan
The goal is to keep the existing product relevant, competitive, and aligned with evolving customer needs and market trends—rather than
The 7 stages of new product development: A step-by-step process
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 2 of 11
:
The 7 stages of new product development: A step-by-step process
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 3 of 11
:
When it comes to new product development, each journey to a finished product is different. Although the product development process
1. Idea generation
Idea generation involves brainstorming for new product ideas or ways to improve an existing product. During product discovery, compan
A SWOT Analysis is a framework for evaluating your product’s strengths, weaknesses, opportunities, and threats. It can be a very effectiv
There are two primary sources of product development ideation. Internal ideas come from different areas within the company—such as M
Some methods you can use are:
Conducting market and product analysis
Working with product marketing and sales to check if your product's value is being positioned correctly
Collecting customer feedback with user interviews, focus groups, UX surveys, and product analytics
Running user tests to see how people are using your product and identify gaps and room for improvement
Ultimately, the goal of the idea generation stage is to come up with as many ideas as possible while focusing on delivering value to your c
2. Idea screening
This second step of new product development revolves around screening all your generated ideas and picking only the ones with the hig
The idea screening stage is best carried out within the company. Experts from different teams can help you check aspects such as the te
Logic trees, like Teresa Torres’ Opportunity Solution Tree, can help you visualize and chart the best path to your desired outcome. Ben Za
Logic trees are a
3. Concept development and testing
All ideas passing the screening stage are developed into concepts. A product concept is a detailed description or blueprint of your idea.
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 4 of 11
:
All ideas passing the screening stage are developed into concepts. A product concept is a detailed description or blueprint of your idea.
Developing alternative product concepts will help you determine how attractive each concept is to customers and select the one with th
Once you’ve developed your concepts, test each of them with a select group of consumers. Concept testing is a great way to validate pr
Concepts are also often used for market validation. Before committing to developing a new product, share your concept with your prosp
4. Marketing strategy and business analysis
Now that you’ve selected the concept, it’s time to put together an initial marketing strategy to introduce the product to the market and
The marketing strategy serves to guide the positioning, pricing, and promotion of your new product. Once the marketing strategy is
The business analysis comprises a review of the sales forecasts, expected costs, and profit projections. If they satisfy the company’s o
5. Product development
The product development stage consists of developing the product concept into a finished, marketable product. Your product developm
This stage usually involves creating the prototype and testing it with users to see how they interact with it and collect feedback. Prototyp
We always test the main features with usability
Regina Smirnova, Lead Product Designer at Meta, uses the IDEO Design Thinking approach when working on a new product. Design think
6. Test marketing
At this stage, it's essential to stay in touch with cus
Test marketing involves releasing the finished product to a sample market to evaluate its performance under the predetermined marketin
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 5 of 11
:
Test marketing involves releasing the finished product to a sample market to evaluate its performance under the predetermined marketin
There are two testing methods you can employ:
Alpha testing is software testing used to identify bugs before releasing the product to the public
Beta testing is an opportunity for actual users to use the product and give their feedback about it
The goal of the test marketing stage is to validate the entire concept behind the new product and get ready to launch the product.
7. Product launch
A successful produc
At this point, you’re ready to introduce your new product to the market. Ensure your Product, Marketing, Sales, and Customer Support te
Remember, product launch is a critical part of the broader commercialization stage.
While the product launch focuses on the initial introduction of the product to the market, commercialization includes the entire timeline
To better understand how to prepare a go-to-market strategy, there are some essential elements to consider:
Customers: Understand who will be making the final purchasing decisions and why they will be purchasing your product. Create user
Value proposition: Identify what makes you different from the competition and why people should choose to buy your product
Messaging: Determine how you will communicate your product’s value to potential customers
Channels: Pick the right marketing channels to promote your products, such as email marketing, social media, SEO, and more
You will need to constantly track and measure the success of your product launch and make adjustments if it doesn't achieve the desired
Expert tips for creating a product development process
Looking to deliver successful products? Here are some tips from product experts at Meta, Priceline, Bonsai, and EduMe, on creating an e
Align around the same vision
“I think the most important part is to align on the product vision and the company goal. Everyone in the team should understand where w
Yet Laure Alboy, Senior Product Marketer at Bonsai, points out: "Sometimes it’s hard to be in the right conversation at the right time, and
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 6 of 11
:
Yet Laure Alboy, Senior Product Marketer at Bonsai, points out: "Sometimes it’s hard to be in the right conversation at the right time, and
Ben Zacharias, Product Director at Priceline, explains that having a clear understanding of the product development strategy and compa
As a product team, you should focus on what you can work on to deliver the
Use roadmaps, backlogs, recurring meetings, and syncs, but keep communicating with your team. “At EduMe, we communicate our visio
Understand your customers’ needs
At every stage of the product development process, there is one critical driving factor: the customer. Identify what your customers need
The user voice and the collaboration with customers is someth
Collecting product feedback and insights helps you ensure that the end product meets their expectations, solves their problems, and fu
When it comes to making and validating decisions, Ian points out that it’s always best to have qualitative data alongside quantitative info
Build a strong team
Product
“I think the foundational parts of a great product development process are often the intangible, human elements that help create motiva
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 7 of 11
:
“I think the foundational parts of a great product development process are often the intangible, human elements that help create motiva
Also, each team is different. So, it’s essential to create a supportive and flexible environment that allows you to identify which product dev
Get inspired: Nextflix’s real word new product development
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 8 of 11
:
Netflix, the world's leading streaming service with over 209 million subscribers in 190+ countries, began as a DVD rental business in 1997
After this immense success, today key aspects of its product development include:
Consumer science: Netflix employs a methodology of experimenting, testing, and learning from user behavior to drive engagement, r
Rapid prototyping: The Netflix team quickly create and test product prototypes with real users to validate ideas
Personalization: The platform uses AI and machine learning to offer personalized content recommendations, improving user experien
Original content: Focuses on producing original series like Stranger Things, Bridgerton, and Squid Game, to attract and retain subscr
Hungry for more? Get your fill of innovation with these creative product development examples.
Final notes on NPD
Having an efficient new product development process is essential to bringing your final product to the market. Hopefully, by following the
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 9 of 11
:
Make your product truly customer-centric with Maze
Usability test prototypes or live products across the development cycle and discover how actions are performed, successful paths, and snags in the u
Request a demo
Frequently asked questions about the new product development process
What is new product development?
What are the 7 stages of product development?
How long does it take to develop a new product and get it to market?
What’s the difference between product development and product management?
Author
Giada Gastaldello
Content Marketing Manager at Maze
https://maze.co/collections/product-development/new/ 26/11/2024, 2 02 PM
Page 10 of 11
:
