{"id":17847,"date":"2013-05-07T13:18:50","date_gmt":"2013-05-07T07:48:50","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=17847"},"modified":"2024-04-12T14:15:14","modified_gmt":"2024-04-12T08:45:14","slug":"the-product-development-process-2","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/the-product-development-process-2\/","title":{"rendered":"The product development process"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a ref=\"magnificPopup\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-69.png\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-69.png\" alt=\"The product development process\" class=\"wp-image-99020\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-69.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2021\/01\/International-Trade-69-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/certified-export-import-foreign-trade-professional\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n\n\n<h3><strong>The product development process<\/strong><\/h3>\n<p>Let&#8217;s learn about The product development process. Beginning with new ideas in the form of concepts, a series of activities is undertaken, beginning with market research and progressing to planning, sample development, copyright and registration of intellectual property, production planning and finally market launch. Feedback from market launch is then input into the generation of new ideas, in an ongoing process of continuous improvement. Market Research involves the identification of who will be the potential customer for a new product idea. It includes a range of enquiries aimed at understanding the dynamics of the industry within which your product is placed, such as<\/p>\n<ul>\n<li>What are the demographic characteristics (number of potential customers, age, disposable income, lifestyle characteristics, cultural preferences, purchasing patterns, etc.) of the market?<\/li>\n<li>Who are the key players?<\/li>\n<li>What margins may be applied to wholesale pricing?<\/li>\n<li>Which products are most successful?<\/li>\n<li>Why do customers buy?<\/li>\n<li>What are the current trends in the market?<\/li>\n<li>What conditions (e.g. regulations, border controls, duties and taxes) apply to market access<\/li>\n<\/ul>\n<p>The product development process encompasses all steps needed to take a product from concept to market availability. This includes identifying a market need, researching the competitive landscape, conceptualizing a solution, developing a product roadmap, building a minimum viable product, etc.<\/p>\n<p>Product managers act as the strategic directors of the development process. They pull together the cross-functional team, communicate the big-picture goals and plans for the product (via the\u00a0product roadmap), and oversee the team\u2019s progress.<\/p>\n<p>\u00a0<\/p>\n<div class=\"apply\">\u00a0<\/div>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.vskills.in\/practice\/foreign-trade\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"150\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-58.png\" alt=\"Certified Export Import Foreign Trade Professional\" class=\"wp-image-94226\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-58.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Export-Import-Foreign-Trade-Professional-58-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/certified-export-import-foreign-trade-professional\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Go back to Tutorial The product development process Let&#8217;s learn about The product development process. Beginning with new ideas in the form of concepts, a series of activities is undertaken, beginning with market research and progressing to planning, sample development, copyright and registration of intellectual property, production planning and finally market launch. Feedback from market&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[85],"tags":[6720,2253],"class_list":["post-17847","page","type-page","status-publish","hentry","category-export-import","tag-foreign-trade","tag-the-product-development-process"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The product development process - Tutorial<\/title>\n<meta name=\"description\" content=\"The product development process\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/the-product-development-process-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The product development process - 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