PRODUCT DEVELOPMENT

PROCESSES
1.1 Characteristics of Successful Product
development
1.2 Generic development process

Lecture Scheduled at 10:45 am on 14th December 2020

Prepared By :- Prof. H. N. Patel
 You will have to develop skills for evaluating,
articulating, refining, and pitching a new product or
service offering, either as a start-up business or a
new initiative within an existing firm.
 This subject will help to interested students in
innovation and design as necessary components of
new businesses today.
 The aims to acquaint the students with challenges of
starting new ventures and enable then to investigate,
understand and internalize the process of setting up
a business.
Prepared by:-Prof. H. N. Patel (GECV Mech) 2
 1.1 Characteristics of Successful
Product development
Product quality
o How good is the product resulting from
development?
o Does it satisfy customer needs?
o Is it robust and reliable?
o Product quality is reflected in market share?
Product cost
o What is the manufacturing cost?
o It includes capital equipment and tooling ?

Prepared by:-Prof. H. N. Patel (GECV Mech) 3

 1.1 Characteristics of Successful
Product development
Development time
o How long did the PD effort take?
Development cost
o How much spent in PD effort?
Development capabilities
o Did the team/firm acquire any experience for future
projects?

Prepared by:-Prof. H. N. Patel (GECV Mech) 4

1.2 Generic development process
Product :
A product is something sold by an enterprise to its
customers.
Product Development :
Product development is the set of activities beginning
with the perception of a market opportunity and
ending in the production, sale and delivery of a
product.

Prepared by:-Prof. H. N. Patel (GECV Mech) 5

1.2 Generic development process
A process is a sequence of steps that transforms a set of
inputs into a set of outputs.
A product development process is the sequence of steps or
activities that an enterprise employs to conceive, design,
and commercialize a product.
Some organizations define and follow a precise and
detailed product development process, while others may
not even be able to describe their processes.

Prepared by:-Prof. H. N. Patel (GECV Mech) 6

1.2 Generic development process
 We will consider here a generic product development
process that can be used in a market pull situation.
 The input to the process is a mission statement and
the output of the process is the product launch.
 Mission statement :
 Identifies the target market for the product,
 provides a basic functional description of the
product, and specifies the business goals of the effort
 results from a well-executed product planning phase.
 Product launch :
 Occurs when the product becomes available for
purchase inPrepared
the market place.
by:-Prof. H. N. Patel (GECV Mech) 7
1.2 Generic development process

Prepared by:-Prof. H. N. Patel (GECV Mech) 8

Prepared by:-Prof. H. N. Patel (GECV Mech) 9
Prepared by:-Prof. H. N. Patel (GECV Mech) 10