Developing a new product for your business needn’t be a painstaking exercise. If you’ve got an exciting and potentially profitable product idea, the last thing you want is to be constrained by an outdated product development process that stunt the speed of getting the product to market.

For new product development i.e. a process of creating a new product that’s never been developed by your team before, there will undoubtedly be a string of uncertainties and hurdles to overcome along the way. In order to combat those challenges, a structured roadmap is needed to give you and your team a clear route to market.

Key aspects of any new product development process:

• Idea generation & conceptualisation
• Idea screening
• Conceptual development
• Outlining the business case
• Prototyping the product
• Market testing
• Commercialisation and launch