{"id":4664,"date":"2020-07-21T09:46:14","date_gmt":"2020-07-21T09:46:14","guid":{"rendered":"https:\/\/shopifyninja.ca\/blog\/?p=4664"},"modified":"2020-08-03T10:51:48","modified_gmt":"2020-08-03T10:51:48","slug":"product-development-process","status":"publish","type":"post","link":"https:\/\/shopifyninja.ca\/blog\/product-development-process\/","title":{"rendered":"HOW TO DEVELOP AND LAUNCH A NEW PRODUCT IN THE MARKET?"},"content":{"rendered":"

HOW TO DEVELOP AND LAUNCH A NEW PRODUCT IN THE MARKET?<\/strong><\/h1>\n

In order to stay successful in the phase of maturing products, companies have to obtain new ones by a carefully executed new product development process. But they face a problem, although they must develop new products, the odds weigh heavily against success. Of thousands of products entering the process<\/a>, only a handful reach the market. Therefore, it is of crucial importance to understand consumers, markets, and competitors in order to go through the product development process by delivering superior value to customers. In other words, there is no way around a systematic, customer-driven new product development process for finding and growing new products.<\/p>\n

NEW PRODUCT DEVELOPMENT PROCESS<\/h2>\n

However, now let\u2019s get into the eight major steps in the new product development process.<\/p>\n

 <\/p>\n

IDEA GENERATION<\/strong><\/h3>\n
\"IDEA

IDEA GENERATION<\/p><\/div>\n

The new product development process starts with idea generation which refers to the systematic search for new-product ideas. Typically, a company generates hundreds of ideas, maybe even thousands, to find a handful of good ones in the end. Two sources of new ideas can be identified:<\/p>\n