Product Management Write For Us – The product development course is a six-stage plan that involves taking a product from its initial conception and taking it all the way to market launch. This process helps divide tasks and organize collaboration between different departments. Discover how to implement the different phases of product development.
The 6-stage product development process.
1. The generation of the idea (the ideation)
The early stage of the product development process begins with generating ideas for the new product. The initial ideation stage involves brainstorming product concepts based on customer needs, pricing, and market research.
To begin the conception of a new product, it is convenient to take into account the following factors:
- Target market: The target market is the consumer profile for whom you make the product. It is essential to identify it initially to develop the product-oriented concept for that target market.
- Products that already exist: Once you have the concept of a new product, it is an excellent idea to evaluate the portfolio of the products you already have. Are there products that solve a similar problem? If so, is the new concept different enough to make it viable? If you answer these questions, you can ensure the success of developing your new idea.
- Functionality: Although, indeed, you do not yet need to have a detailed report of the functionality of the product, you should have a general idea of what functions it will serve. Also, think about what the product looks like and why someone would be interested in buying it.
- SWOT Analysis: If you analyze the strengths, weaknesses, opportunities, and threats of the product early in the process, this can help you develop a better version of the new concept. In this way, you will ensure that the product is different from that of the competition and that it is the solution to a gap in the market.
- SCAMPER Method: To perfect the idea, apply brainstorming methods such as SCAMPER, which consists of substituting, combining, adapting, modifying, using for another purpose, and eliminating or rearranging the product concept.
Consider documenting the ideas as a business case to validate a product concept. It will allow team members to clearly understand the initial product features and the goals of launching the new product.
2. Definition of the product
Once you have finalized the business case and analyzed the product’s target market and functionality, the next step in the product development process is to define the product. The definition is a concept or scope development that emphasizes product strategy refining.
During this stage, it is essential to define the specific details of the case, including the following:
- Business analysis: A business analysis consists of establishing distribution and e-commerce strategies and conducting more profound research on the competition. The purpose of this step is to begin to develop a clearly defined product roadmap.
- Value proposition: The value proposition is the problem that the product solves. Think about what makes it different from other products on the market. This value can be beneficial for market research and marketing strategy development.
- Success metrics: To evaluate and measure success once the product is launched, it will be essential to be clear about the success metrics. Are there key metrics you want to look at? They could be basic KPIs like average order value or something more specific like important custom goals within your organization.
- Marketing Strategy: Once you’ve identified the value proposition and success metrics, brainstorm the marketing strategy that best fits your needs. Analyze through which channels you would like to promote the product (such on social networks or blog posts). While the strategy may need to be revised depending on the final product, it’s always a good idea to start thinking about this during product definition to plan ahead.
Once the ideas have been defined, it is time to start developing the minimum viable product (MVP) with the initial prototype.
3. Development of the prototype
The third step of the product development process is prototyping. During the prototyping stage, the team will thoroughly research and document the product, creating a detailed business plan and building the product.
In the early stages, prototyping can be as simple as a drawing or something more complex, such as a computer rendering of the initial design. These prototypes help you identify the areas at risk before creating the product.
During the prototyping stage, you will work on specific details such as:
- Market risk research: It is vital to examine potential risks associated with the item’s production before physically creating it. This will prevent the launch from being thwarted later. It will also serve to not forget to communicate the risks to the team since they will be documented in a risk register.
- The development strategy: You can start working with the development plan next. In other words, you will understand how tasks will be assigned and the schedule for those tasks. You can plan lessons and estimate the program using the critical path method.
- The feasibility analysis: The next step in the process is to evaluate the strategy for the product based on feasibility. Determine if the estimated workload and schedule are actually achievable. If not, modify the dates accordingly and ask for help and the participation of other members.
- The Minimum Viable Product (MVP): The end result of the prototyping stage is the Minimum Viable Product (MVP). Think of the MVP as a product that meets the necessary features to be released in a release and has nothing in it that exceeds what is strictly required to make it work. For example, an MVP bike might have a bike frame, wheels, and a seat but maybe no bell or basket. Creating an MVP can help the team craft all the desired features and avoid delaying the release schedule. The other desired functions can be added later when hours and productive capacity are available.
It’s time to start designing the product for market launch.
4. Initial design
During the initial design phase, project participants work together to produce a product mockup based on the MVP (minimum viable product) prototype. The design of a new product should be created with a target audience in mind and complemented by the critical features of the new product.
A good product design can take several iterations to get it right. In addition, it may also be necessary to contact distributors to obtain the materials needed for the procedure.
To produce the initial layout, you’ll do the following:
- Obtaining the materials: For the design of the initial model, getting the materials is of the utmost importance. It can mean working with multiple vendors, ordering materials, or creating your own. As they can come from different places, you should document the information regarding using materials in a shared space that allows for later reference if necessary.
- Connect with everyone involved: Close communications during the design phase are essential to verify if the initial design is moving on the right track. Share progress reports weekly or daily to communicate updates and get necessary approvals.
- Get initial feedback: When the design is complete, ask managers and others involved in the project to provide an initial response. Once the plan is approved and ready to be delivered, move on to the validation phase for final testing before launching the product.
5. Validation and tests
For the product to go on the market, it must be validated and tested first. This ensures that all stages of the product, from development to marketing, work effectively before it is released to the public.
To ensure product quality, please do the following:
- Concept development and testing: You may have effectively designed the prototype, but you still need to review any issues that may arise during concept development. It could include software development or physical production of an initial prototype. Test functionality with the help of other team members and beta testers to ensure development quality.
- User interface (front-end) testing: During this stage, user interface features are tested for development code risks or bugs affecting the consumer. This includes checking the functionality for e-commerce and ensuring that everything is stable for launch.
- Marketing tests: Before producing the final product, test the marketing plan to check the functionalities and detect errors. It’s also the time to ensure all campaigns are adequately prepared and ready to launch.
Once the initial tests have been completed, you will begin producing and presenting the final product concept to clients.
6. Marketing
This is the time in the product development process to bring the concept to market, including launching the product and implementing it on your website.
So far, you have finalized the design and checked the development and marketing strategy quality. You should feel confident that the final iteration will turn out well and be ready for final production.
At this stage, you should work with the following:
-
Product Development:
The physical creation of the product that will be released to customers. It may be necessary for software concepts to deal with production or carry out some additional development. Provide the team with the final prototype and information on the MVP iterations so that the product meets the correct specifications.
The final product has been released. What remains is to measure the results with the initial success metrics that you prepared.
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