PRODUCT DEVELOPMENT




PRODUCT DEVELOPMENT

Product development can be creation of a new product or modification of existing product with newer characteristics which satisfies the market demand or customers. During a product development we march from a traditional approach to an advanced technology with an idea of innovating the product to make it suitable for the existing market conditions.

The major reason for product development is to improve the product either in terms of technology or features. Normally a new product development means launching an absolutely fresh product in the market. The other version of product development is innovation of an existing product for delivering better services to end users.We at aquad help our business partners through all the spectrums of product development exhibiting are functional industry specific approach. Improving product development ideas and enhancing the effectiveness during the development is our single minded goal.


New Product Development process

Brainstorming

This involves identifying a prospective product .It is also screening the market for new product idea that are profitable. Identification of business idea forms the basic part of brainstorming.

Idea Analysis

The product concept needs a close evaluation.A market search can help us understand if the idea is feasible or within the relevant business context.

Concept genesis

In this stage we help you convert your identify product opportunities into a tangible concept.

Prototyping

We create a rapid prototype for a product concept. Prototype is front end model that is created rather than the refined product model that will be tested and marketed later on.

Product development

This involves ensuring the concept has passed muster and has been determined to make business sense and have a business value.



Why there is need for
product development ?

When bringing new products to the market or enhancing existing products clear instructions along with proven tips and techniques used by successful business .Product development should be taken by experts because of extremely tough market conditions. Product development helps in excellent understanding of customers and their priorities. Strong product development strategy helps to create profitable products and rendering well defined competitive strategy. Product development strategy makes use of great product architecture with support for unique selling points and good cost structure. Efficient project development helps to cater customer specific needs with heavy customization.cost reduction is also an important goal of product development.This advantage in lower cost will give you the flexibility to maintain business and increase business margin.When the cost incurred is lowered.