Product Development: Definition and additional resources from BNET
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BNET Business Dictionary

Business Definition for: Product Development

  • the revitalization of a product through the introduction of a new concept or consumer benefit. Product development is part of the product life cycle. The concepts or benefits that can be implemented range from modification of the product to simply introducing new packaging.

Additional Resources

Market Attractiveness Of New Product Concepts
From the executive summary: ‘Implementing sustainable growth via successful new product development programs requires more than competent technical development. Various methodologies such as Stage Gate Processes have been developed to help businesses better manage the actual development process. However, before new product development initiatives are begun, a business should understand...
Tags: Product Marketing, Marketing, New Product Development
White papers 2001-06-11
Product Concept Development As A Conscious Resource
Development of new products is a necessity due to turbulent markets, fast product cycles, and disruptive technologies. In order to remain competitive, companies have to be innovative and create new products as well as improve existing ones incrementally. Product concepts are considered to be proposals intended for commercialization within a...
Tags: Research & Development, Business Operations, Marketing, Management, Product Development, Helsinki University, Strategy, Product Marketing
White papers 2004-08-18
How Product Managers Help Development?
Product Managers are in the unique position of having dual citizenship, with passports for both Marketing land and Development land. In fact, you find you can't predict whether a company will have its Product Manager positions reporting into Marketing or Development. The truth is that a fully mature product management...
Tags: Product Manager, Truth, Marketing Research, Marketing
White papers 2004-01-01
New Product Development
Product management involves the management of product features, brand, warranty, and services of the particular product. All products go through a product life cycle and, with time, gradually die down. It is essential for the organization to analyze the product life cycle on a regular basis and come up with...
Tags: University Of Texas, New Product Development, Product Life Cycle, Product Management, Product Marketing, Product Development, Marketing Research, Marketing, Research & Development, Business Operations
Presentations 2003-01-01
What Separates The Winners From The Losers In New Food Product Development?
The low rate of innovation and high rate of failure of new food products is a cause for concern. Whilst a wide range of product development process factors are known to influence product success and failure, these predictors are based almost exclusively upon investigations into 'industrial' rather than food products....
Tags: Food, Food & Beverage, Product Development, Manufacturing, Research & Development, Business Operations
White papers 2003-09-12
Building Winning Product Development Teams
With more and more global stakeholders now taking part in product development, team collaboration and communication are more critical than ever to driving competitive advantage. By forming efficient product development teams, companies are able to make better-informed decisions - and capitalize on new opportunities faster. What's the best approach to...
Tags: Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management
White papers 2005-02-01
New-Product Development And Product Life-Cycle Strategies
The marketing mix of an organization involves examining the product, price, promotion, and place aspects. Of these, the product aspect entails the consideration of product features, brand, warranty, and services of the particular product. All products go through a product life cycle and, with time, gradually die down. It is...
Tags: Pearson Education Inc., Product Lifecycle, Product Life Cycle, Product Marketing, Marketing Research, Marketing
Presentations 2003-01-01
Decomposition In Product Development
Product development organizations seek to create profitable product designs. This paper discusses how the decomposition of the profit maximization problem leads to traditional product development processes. Decomposition provides a framework that integrates the conceptual models of decision-based design and the traditional description of product development processes. This paper identifies the...
Tags: Business Operations, Marketing, Management, Research & Development, Strategy, Product Marketing, Product Development, Decomposition
White papers 2004-06-24
The Discipline of Product Management
Product development is the process of designing, building, operating, and maintaining a good or service. Software and Internet companies use a product development process to ensure that they are not just manufacturing a technology, but creating a product that people will want to buy and continue to use. To be...
Tags: Marketing, Research & Development, Strategy, Product Marketing, Product Development, Product Management, Management, Business Operations
White papers 2002-06-29
Factories Of The Future - Integrated Product Development
From the executive summary: ‘Simulation and math modeling will continue to evolve in the collaboration between product development and production. Having a common set of geometry data for developing designs and supplier components goes a long way in allowing production to be working on tooling and simulating assembly processes concurrently...
Tags: Business Operations, Research & Development, Strategy, Product Marketing, Marketing, Management, Product Development, Penton Media Inc.
White papers 2002-06-01
Supplier Led NPD Process Improvement In The UK FMCG Industry: Need And Method
This paper makes recommendations on how product success can be improved and development time reduced with an adapted product development process. One of the biggest time compression opportunities revealed is to run the reprographics process in parallel with the product development processes, reducing an existing ten week bottleneck. Another key...
Tags: Strategy, Research & Development, Business Operations, Marketing, Management, Product Marketing, Product Development, Supplier, Cardiff University
White papers 2006-07-09
"Measures" for New Product Development
This paper presents and describes the existing measures for apparel product development in the year 2001. The evolvements of the types of measurements are examined through the 1990's. The increase in the interest and changing emphasis in the area of product development is examined by analyzing the patent activity from...
Tags: Strategy, Research & Development, Business Operations, Marketing, Management, Product Development, Product Marketing, New Product Development, North Carolina State University
White papers 2001-05-17
Outsourced Product Development: Steps to Ensure Success
Successful launch of product development hinges heavily on cautious planning, unambiguous characterization, and effectual communication. The said elements become more crucial if a person wants product development outside the precinct of his or her company or organization. In order to completely define a person's outsourced product development projects and accordingly...
Tags: Outsource, Product Development, Product Marketing, Strategy, Outsourcing, Research & Development, Business Operations, Marketing, Management, It Operations, Outsourcing & Subcontracting
White papers
THQ Announces Global Product Development Initiative; Mike Gamble to Lead European Product Development; Steve Dauterman to Lead Asia-Pacific Product Development
Business Editors/High-Tech Writers
Tags: product development, THQ Inc.
Research articles 2003-02-19
Whatever Happened to 2-Year Medical Product Development?
This paper discusses the increased importance of time-to-market for medical products, and shows that successful product development requires additional focus in four areas; the product requirements phase must be addressed with increased formalism, this formalism must then be extended through the software requirements phase, evaluation of the software architecture must...
Tags: Product Marketing, Product Development, Foliage Software Systems, Software, Tools & Techniques, Strategy, Research & Development, Business Operations, Marketing, Management
White papers 2004-02-10
Need A Better Way To Measure And Manage Your Overall PD System? Try Using A "Dashboard."
At present there is no widely applied method of measuring the ongoing performance of product development as a whole. However, there have been some attempts to do this -- at different levels within the product development process or company. By failing to adopt an effective set of measures for managing...
Tags: Business Operations, Research & Development, Strategy, Product Marketing, Management, Marketing, Product Development, Dashboard
White papers 2003-10-01
IONA Names Proven Industry Executive to Lead Product Development Efforts; Stephanos Bacon Joins Company as Vice President, Product Development
DUBLIN, Ireland & WALTHAM, Mass. -- IONAR Technologies (NASDAQ: IONA), a world leader in high-performance integration solutions for mission-critical IT environments, today announced that Stephanos Bacon has joined the company as Vice President, Product Development. In this role, Mr. Bacon brings more than two decades of software industry product development...
Tags: industry, product development
Research articles 2005-04-11
Clarity from Niku Selected by Autobytel to Support Product Development and Compliance; New Product Development Solution to Help Support Autobytel's Award-Winning Product Development Teams
REDWOOD CITY, Calif. -- Niku Corporation (Nasdaq:NIKU) today announced that Autobytel Inc. (Nasdaq:ABTL), a leading automotive marketing services company, has selected ClarityTM from Niku to support its award-winning product development efforts. Autobytel, a recent winner of an AeA High-Tech Award for product innovation and the Stevie Award for Best Product...
Tags: Autobytel Inc., compliance, New Product Development, product development
Research articles 2005-07-18
An Integrated Framework For Measuring Product Development Performance In High Technology Industries
One of the major challenges in managing new product development is the difficulty in measuring product development performance. "Although new product development projects are inherently multidisciplinary, studies of development projects typically adopt a singular functional perspective of performance. Inherent functional differences contribute to a natural tendency toward myopic evaluation of...
Tags: Research & Development, Strategy, New Product Development, Industry, Author, Performance, Performance Management, Product Marketing, Product Development, Framework, Business Operations, Marketing, Human Resources, Workforce Management, Management
White papers 2003-02-01
Overcoming The Top Five Challenges In Electro-Mechanical Product Development
The pressures of globalization and consolidation are complicating the business of product development in almost every industry. But nowhere is the impact being felt more profoundly than in the development of sophisticated electronic products, where companies must synchronize increasingly complex, multi-discipline development environments. This paper gives a better understanding of...
Tags: Business Operations, Research & Development, Strategy, Product Marketing, Globalization, Product Development, Parametric Technology Corp., Management, Marketing
White papers 2006-04-01
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