1.5 Product Development Process

The Product Development Process is an interesting process where the Product Manager has to develop the product just from the Idea. The organizations have vision and idea about any product and then that vision is made into functionality, services, and requirements.

There are many standard processes that actually define the complete product development process but again it has some ambiguity depending on industries. Some sort of process works for the IT domain but it does not exactly for the transportation domain. i.e: Cost for testing and their methods involves different practices for both of the domain IT and Transportation.

The basic process for Product Development is mentioned as:

1. Ideation/Conceive the Idea

2. Design and Planning

3. Develop

4. Iteration

5. Launch

6. Stable

7. Kill

We already know that the product does not come from a vacuum but it has "a strong idea to solve the problem". One has an idea and then start going through "planning and design" how to go for the product.

Once planning is over then stick with the "plan and develop" the product. I would like to add one point here as Agile frameworks are also being used in the Product Development Process which actually allows some features or functional correction in order to make the best product. From the Agile concept only this "Iteration" process comes which always welcomes the feedback to make any changes in products.

Now Product is ready to go the market and this process called "Launch". There are certain processes like prelaunch and post-launch activity process but we would discuss some other day. Product team, Development team, Design team, Sales team, the Marketing team would start working to make this product as the best product and after certain months or year by continuous improvement, the product becomes stable. It requires minimal management and supervision and the company focuses on generating revenues and how to scale the market.

Once a similar features product or the better product arrives in the market by the competitor then the company has to decide it should go for some moderation so that it could be in the market or if it has generated enough capital then they would kill the product and meanwhile launch the other product.

The company can not depend upon a single product but it has to work on the proliferation of items. It means if you N-number of products then you can make N-number times more presence and existence in the market.