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Product Development Product Development Company Product Development Life Cycle

Product Development Life Cycle – Understanding The Steps and Stages!

Product Development Life Cycle - GID Company

The product development life cycle consists of many important aspects to consider when you want to develop a new product from scratch. As an entrepreneur or product creator may know, the product is the sole reason behind creating interest among customers and driving sales. However, the process of taking your half-baked idea from inception to product launch is hectic and somewhat complex. One should know that each process of the product development life cycle will be a little different based on the end product. However, the process is almost the same when looking at the main steps of product development.

A step-by-step plan is indeed crucial when we are talking about new product development, of course, if you want the product to succeed in the market. Each and every phase of product development has its own importance in the product development cycle. Whether you are a newcomer or an experienced entrepreneur opting for building a creative and powerful product from scratch, you will need to find an expert product development company such as GID Company. Let’s move forward to find out more about the product development life cycle and process.

What is Product Life Cycle?

The product life cycle is the amalgamation of stages a product goes through from its launch in the market to termination. There is a minor difference between the product life cycle and the product development life cycle. That’s the reason why most people often consider both terms the same. You will get more ideas by comparing the important stages of the product life cycle and product development life cycle. The main stages of the product life cycle are as follows:

Introduction

The product is in the introduction phase and new to the market. The introduction phase begins once the product is launched in the market for the end user. The customers or end users will use the product for its specific purpose.

Growth

When the product is becoming popular among its customers, it will be gaining traction and grow consistently. The growth stage will depend on various factors such as the quality of the product, the price range, and how useful it is for people.

Maturity

The product reaches the maturity stage in the product life cycle when it reaches peak market penetration. The product reaches its maximum limit to grow in the market and eventually, will keep holding its position or degrade over time but not exceed the peak point.

Decline

The product will lose its market share over time after it obtains the maturity stage. The product may have to be discontinued under circumstances where the product owners deal with the loss for a considerable period of time.

Product Development Life Cycle For New Products

Basically, a product life cycle is a process of developing a new product by generating a new idea and defining the development process to creating a product prototype model and later on, developing, and launching the actual product. The product development life cycle actually describes how a product goes through each and every stage from inception to launch.

The process actually explains how the new product ideas are actually brought to the market after their successful and precise design and development. The product development experts will craft a well-planned and efficient process to ensure reducing the risk and maximize the chances of leading the product in traction. The product development life cycle defines the accurate path for new product development.

7 Stages Of Product Development Life Cycle

Product development is a process that involves the creation of a new product or service. It starts with an idea, which is then developed into a prototype and can be tested for viability. The process then continues to the production phase, where the product is manufactured and sold to customers. Finally, the product can be improved or changed in order to meet customer needs. Highlighting the different ways to categorize steps in the product development process, here are the important 7 key stages of the product development life cycle. 

Ideation

Generating new ideas for new product development is indeed the first step in the product development life cycle. The main motive of the product development company is to identify new problems as well as opportunities and have a clear idea of how to resolve them. The best thing to not do in the ideation stage is to judge the feasibility of the idea. Take the help of professionals if you want to let creative ideas flow through the product you are developing. The ideation stage involves market research, competitive research, and customer analysis to define the product scope, features, and needs.

Validation

Following through the ideation stage in which you might have a list of creative product ideas through brainstorming, the second stage of product development begins. The validation stage actually is taken into account to filter through product ideas that are worth investing in and product ideas to avoid. In this stage, one can speak directly with potential customers to get a clear understanding of what they need in a product. It will be an advantage if you are trying to pre-sell the product in the validation product development life cycle stage.

Prototyping

Before moving on with the prototyping stage, you should ensure to have a list of the features and functions your product should have. Based on the defined requirements and scope, the product prototype model of the actual product is built and developed. Using wireframing tools such as Figma or Sketch, it will be easy to build a working prototype model. The prototype model is then tested by product testers and improvised accordingly to make it flawless.

Marketing

As soon as the product prototype model is developed successfully, it will be time to identify your potential customers and reach out to them with an effective marketing strategy. Consider marketing on social media and your current customer base if any and request them to share feedback and pain points. Ensure to establish the KPIs (Key Performance Indicators) using your preferred advertising mediums such as paid advertising, blogging, social media, etc. A well-planned marketing plan can offer you the desired results. 

Development

Start with the product development phase once you have finished with the marketing strategy of your actual product. With our years of experience, we believe that the end goal of the product development stage is to get the product to the market at the earliest. It will be better to define a deadline for a product launch in the market and divide the time into small manageable works to get you one step closer to the finished product.  

Launch

When it is time to launch the product into the market, there are several things to finalize such as finalizing integrations, billing, user tracking, and analytics. The main thing when launching the product is to ensure everything is running smoothly and up to expectations. The product should be well-tested from each and every angle possible. You can opt for a product launch event to boost your product’s marketing and increase mouth-to-mouth advertising.  

Improvement

As you know, product development is not a one-time thing, a product will have to keep improvising with time. Once your product is launched into the market, you need to keep tabs on how it is performing and identify the flaws or weaknesses of the product and work on improvising the actual product for customer satisfaction. Take note of the end-users behavior, then tweak your existing features and functions of the product or add a new one. With consistent improvement in the product, it will be gradually successful in the market.  

Get In Touch With Us & Clear Doubts About Product Development Life Cycle

With an expert and well-experienced product development company like GID Company, it will be possible for your business to reach new heights and success in the market with a newly-launched product. We are here to help you find the right product development experts to serve your product design as well as development requirements. To clear all your doubts and questions, please feel free to give us a call at +1714-323-1052 or Contact Us. To get the latest updates, please connect with GID Company on Social Media – Facebook, Twitter, Instagram, LinkedIn, and YouTube.

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Product Development Process

7 Important Steps To Follow In The Product Development Process

Product Development Process – GID Company

A product development process is something that can change the success rate and affect the time to launch your product in the market. When you have a great product idea and want to develop a product from scratch, it will be beneficial for you to understand and learn about the entire product design and development process. Any entrepreneur opting for new product development should ensure to ask the engineers or product developers about the process or phases a product needs to pass through during its development.

However, if you are hiring the best product development company in California like GID Company, then you will not have to worry about anything at all. Our product development experts and professionals will guide you through every minute detail and step we follow in our product development process. Here are the 7 important steps of the product development process.

Product Ideation and Research

Product ideation and research is the first and crucial step when it comes to developing a product from scratch. During this phase, one needs to carry out proper market research to identify the demand, prospect, and scope of the product in terms of current market trends and statistics. The problem as well as solutions are discussed and researched thoroughly while defining and enhancing the product idea.  

Product Design

There are plenty of things included in the product design step. From detailed drawings to clearing the concepts, everything gets penned down on sheets as the base reference. It is really one of the most difficult steps in the entire product development process. That’s why our experts have divided the design phase into two parts. They are:

Preliminary Product Design

As you know, different products have different requirements and therefore, different designs. For products that involve hundreds of parts and components, the preliminary product design steps become much more helpful. This step basically focused on how the product will appear and function in terms of design, look, material, and more.

Final Product Design

Once the preliminary product design is completed, those parameters are taken as the base reference for the final product design. This secondary product design step includes everything from product designing to fabrication and product manufacturability. Our experts will focus on crafting such a product design that is easy and feasible at the time of manufacturing and deployment. The outcome of the final product design will be detailed drawings and figures, 3D images and videos, illustrations, renderings, a list of required materials, and a defined process to assemble the product.

Analysis Of Product Feasibility and Design

A team of design experts and data analysts will ensure that everything including the feasibility as well as design prior to sending the product to the prototype development phase. Before developing a prototype model of the product, our experts will verify the performance, design, strength, dimensions, weight, and other relevant criteria to meet the standards and pre-defined product scope. It reduces the chances of revisions and improvisations before the prototype model development.

Product Prototyping

As soon as the final product design gets ready, the execution of the product gets started with creating quality product prototypes. An actual form or replica of the conceived product will be created by integrating the best possible features and functionalities. Breadboards, Arduino, and electronic kits will be useful while crafting alpha and beta prototypes for electronic products. Prototype models are crafted to get a clear idea, look, and feel of the actual product.

Testing and Improvisation

After the product prototype development, product testing begins to check if the product has any flaws or defects in it. During the testing, the prototype goes through exhaustive testing to ensure the proper functionality and working. The prototype model is used and tested in every possible way to check its performance, strength, durability, and features. Some potential customers are also offered beta prototypes to receive their valuable feedback and review to improvise and enhance the final product accordingly.

Hazard Analysis

The main purpose of going through the hazard analysis step is to detect any safety issues or defects in the conceived product. If safety issues are detected, then those issues will be fixed before the final product development. And, if safety issues cannot be fixed, a safety manual and warning signs will be added to the final product.

Final Product Development

Merging all the components perfectly according to the enhancements in the prototype model and defined design will be carried out in the final product development step. After the final product development, the product will go through mass production and then to the market launch as per the preference of product owners.

Have Any Questions About Our Effective Product Development Process? Contact Us!

Being a leading product development company in California, USA, GID Company can provide you with the best product design and development services. We hope that the above-simplified steps of the product development process will help all the entrepreneurs out there to understand the flow of how a product is developed. If you have got a creative and innovative idea then you can discuss it with our product developers and engineers to craft a successful product. To discuss your custom product development requirements with our highly experienced professionals, feel free to contact us today. Call Jim Grimes – Our product development expert at +1714-323-1052. Also, you can follow us on social media – Facebook, Twitter, Instagram, LinkedIn, and YouTube. 

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New Product Idea Product Development Product Development Process

Need Help Reducing Time To Market Your Products? Contact GID Company!

Reducing Time To Market

Do you need help reducing time to market your innovative and creative products? Are you looking for a reputed and leading product development company in California, USA? Well, if you have developed an amazing product and if you are searching for an effective way to reduce or decrease the time to launch your product in the market then GID Company is the perfect product design and development firm to approach.

With the help of GID company, it will be possible for our valued client to understand the complex product development lifecycle in a simple way. We have a team of professional product developers and designers that can guide you through our process from product research to product development. Our experts can also provide you with appropriate advice for marketing or launching the product in the competition.

Reducing Time To Market

As you know, current markets are becoming more and more competitive which is why it will be a little bit difficult for fresh products to rule it. No matter how you act smart when launching the product in the market, you cannot be sure whether your competitors have already introduced a similar product or have been working on it. Hence, the best strategy for being successful in the current markets is by launching your innovative products as soon as possible. There are indeed a handful of ways to reduce the time to market your products after final development. Here we have listed down some useful ways to decrease the time to launch in the market.

Incremental Development

Incremental development is one of the most important tools when you want to decrease the period between product development and launch. With the help of incremental development, it will be possible for any entrepreneur to select and define the features and specifications of the product they want to design and develop. The product will be out to all stakeholders and some customers to get feedback or comments on the product’s advantages or faults. Hence, you can get genuine improvement points and act accordingly to move to the next step quickly. By implementing this approach, you can have a fully functional product to launch into the market and minimize the time to market it.

Testing and Re-evaluation

Well, testing the product during each phase of the product development process will be beneficial. Although it may seem a little time-consuming, testing the product thoroughly at every product development stage can not only make the product polished but also the functionality and features will be accurate. Another advantage of following this method of testing and re-evaluation is that you can showcase your product to the customer or entrepreneur at any phase or time period. The product can be accurately tested and it will be easy to determine whether the product meets the defined criteria and has the required features or not.

Cross-Functional Teams

One should hire a product development team that has expertise in different phases such as product design, ideation, development, testing, and marketing. To get the desired result and to reduce the time to market, a product development company should have an experienced cross-functional team who can provide quality manufacturing, engineering, and development. On the other hand, you should also note that as the number of team members increases, the efficiency decreases. The cross-functional team can work accurately on the product and will make sure to launch the product withing a limited time.

Our Experts Can Help Reducing Time To Market Your Full-Fledged Product

There are indeed a lot of factors that can affect the defined scope of product development. But our team of highly experienced and skilled can help reduce the time to market launch your products. The time to market your product plays an important role in defining whether the product will be a success or needs improvement. We are sure that now you will have a clear idea of how you can reduce or minimize the time it takes to launch your innovative product in the market. At GID Company, our team holds expertise with every prospect of product design and development. Contact our professionals today at +1714-323-1052 and we can craft feature-rich as well as functional products for you. Get the latest updates on product development by following us on social media – Facebook, Twitter, Instagram, LinkedIn, and YouTube.

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Product Development Product Development Process

5 Things To Focus On When Developing A New Product From Scratch

Developing A New Product From Scratch

When developing a product, there are plenty of things to focus on when developing a new product from scratch. Many aspiring entrepreneurs want to develop their own original products crafted from their innovative, unique, and powerful ideas. Also, as you know, every successful product depends on the idea, functionality, demand, need, innovation, and market. But the success of a business enterprise entirely depends upon its products and innovations.

Nowadays, new products hit the market every week, but not many products meet your expected return on investment. Mostly, new businesses or entrepreneurs are likely to miss out on some of the most important factors and things about product development and its process. Hence, they will end up either overspending or will have to wait much longer for their product to get launched in the market. So, we have enlisted here 5 must-know things to focus on when developing a new product.

Brainstorming Your Idea

Brainstorming Your Idea

Most entrepreneurs are confused about which product they want to sell, what makes their product unique, and whether they have chosen the right product or not. Everything becomes clear if you have been following the proper strategy or planning for idea generation and brainstorming. It will always be better to get expert advice when you are brainstorming for the product you want to design and develop.

Research and Analyze The Market

Before you go on the way to new product development, market analysis, and research is indeed important factor to consider. If you are missing this step then it would be the biggest mistake you are going to make while developing a new product. Defining or validating your innovative idea through proper market research will be effective for defining the right audience. Also, you need to make sure to evaluate the demand and need for the product you are thinking to launch in near future. Every entrepreneur needs to figure out what the consumers or their targeted customers actually want.

Research and Analyze The Market
Product Planning

Product Planning

Once your market, audiences’ needs, and demand are clear. It is now time to plan and strategize for your product development and launching in the market. You must know that new product development is all about exploring new innovations, functionalities, and features your product could have and that will make your product different from hundreds of similar products out in the market.

When designing your product, one must ensure to choose such a feasible design that will not only excel in the current market trends but also the future demands. Also, you should plan to add more features and enhancements to your product. We recommend building up a prototype model of your product before actually developing the final market-ready product.

Focusing on Product’s Benefits

Many aspiring entrepreneurs and businesses believe that a product will only become successful if it really helps potential customers and consumers. Always focus on the end-user and not the product itself. One should thoroughly instruct the development team or company you’ve hired to keep the potential consumers in mind while developing the product with defined functions and features. If the final product is the best version of what you have imagined and if no customers are willing to buy the product, then it will totally be a shear waste of resources and fortune.  

Focusing on Product’s Benefits
Developing a New Product From Scratch

Pricing

Pricing is a major factor when we are talking about developing any kind of product. If you want to gain the maximum return on the product you will bring to the market, then it will be crucial for you to focus on developing a new product from Scratch. But for defining the price range, you will indeed have to analyze the market and of course, your competitors. For the price range, if you are keeping it too high then you will not have any potential customers and if you are keeping it too low then you may have to deal with the loss of the product. Choosing the most relevant price is the key to owning a successful product.

Want To Develop A New Product From Scratch? Contact GID Company!

GID Company is a leading and renowned product development company in California with more than 25 years of experience and expertise in new product development. If you are looking for the best product development company to partner with, then GID Company can help you with everything from product ideation to product development. We are DesignRush certified product development company in California. Whether you need any help with brainstorming, product design, product development, prototyping, and market launching, reach out to our highly experienced experts at +1714-323-1052 or contact us. To get the latest updates and information, kindly follow GID Company on social media:

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New Product Idea Product Development Product Development Process

5 Phases of Product Development Process [2022]

5-Phases-of-Product-Development-Process-GID-Company-California-1

The new product development process usually starts with Idea Generation.
There are 5 phases of product development process in the initial phase of product development where the new and innovative ideas are generated only to go through screening and concept development before reaching the final stage of product introduction in the market.

Steps of Product Development

As most entrepreneurs and business owners may know, new product development is indeed a significant process that small as well as large enterprises go through for their survival and expansion.  The business environment becomes competitive by the day, and everyone has to adopt new strategies and ways to keep up with the market trends. From product conception to product launch in the market, everything comes under the new product development cycle or process. To make the product development process simpler, we have enlisted here the five phases of the product development process a business or individual needs for new product development.

Idea Generation

Idea Generation

In this first stage of the new product development process, the businesses will define and clear new and innovative ideas regarding the product. Some of the crucial sources of idea generation come directly or indirectly from business owners, customers, competitors, journals, etc. The ideation sources may vary depending on the business models and hence, the product concept or idea must be well defined before the beginning of actual product development. The ideas generated during this phase of the product development process will act as an important pillar for the entire product development cycle.  

Screening

Screening

Once you have the list of ideas generated based on the customer and competitor analysis, you have to go through screening, the second phase of product development. The main purpose of the screening phase is to filter out or churn down the product ideas to the appropriate and viable ones. Also, it will be essential to take opinions from employees, relevant businesses, and of course, customers in order to avoid costly and expensive options. At the end of the screening product development phase, your business will have a few product ideas that are reliable and feasible from the large pool of ideas.

Concept Development

Concept Development

Concept development is considered to be the third stage of the product development process which involves some research and analysis of potential costs, revenue, and approximate profit to be generated within a specific time period after launching the product. Utilizing the SWOT analysis, the firm will be successful in finding out the strengths, weaknesses, threats, and new opportunities in the global or local market. Defining the market through important market segmentation, the firm will set out to identify the product niche which affects most decisions. 

Product Development

Product Development

During this phase of the product development process, the expert and experienced product developers, designers, and engineers will work on the finalized product design to develop a new product from scratch. The product will be manufactured on precise and detailed information and instruction in such a way that it fulfills all customer needs and requirements. After the analysis of a market-ready product, the business owner will be asked whether to go for large-scale product manufacturing or small-scale production.

Commercialization

Commercialization

The new product development process starts with idea generation and ends with product commercialization or product launching – the last phase of the product development process. In this phase of product development, the business owner or entrepreneur will begin the promotion of products through effective and essential marketing campaigns. Based on the concept development research and data, the location, timing, and potential customers will be defined for the product introduction in the market.

Frequently Asked Questions

What are the 5 stages of the new product development process?

The five stages of the product development process include,

  • Idea Generation
  • Screening
  • Concept Development
  • Product Development
  • Commercialization

Additionally, there are several other sub-phases of new product development depending on the product or business.

The new product development process usually starts with ________.?

Idea generation or product ideation is the first or beginning stage of new product development in which the new, unique, and innovative ideas are listed out based on the analysis of customers and competitors.

What is the first stage of new product development?

As stated earlier, you can consider Idea Generation as the first stage for new product development. Whether you want to design a new product or if you want to develop a product from scratch, the process begins with generating product ideas or concepts.

How much does it cost for the new product development process?

The cost estimation for new product development depends on various factors such as the type and category of product you want to develop for your business or organization. Feel free to get a free quote by calling us at +1714-323-1052 or Contact Us.

What is the final phase of the product development cycle?

Product commercialization or launching in the market is the last or final phase of product development in which the business will launch promotional campaigns for new products.

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Product Development Process Product Prototype Development

How Much Does Product Prototype Development Cost? 💸

Product Prototype Development

If you are planning to develop a new product but are worried about the product prototype development cost, then you are in the right place. We are GID, a product development company in California, and we are here to discuss how much a new product development will cost you. You can also read this blog where we have already discussed Costs Involved in Taking a New Product to the Market.

However, before going for a full-fledged development, you should prototype your idea as it will help you improvise your product (both technically and aesthetically) and make your product more value for money. Thus, let’s first try to find out how much does product prototype development will cost you.

To calculate the cost of prototype development, you need to figure out where do you stand on your product development journey. You can identify this with the help of the product development process stages mentioned on our website. At different stages, you will need different types of prototypes to test the design and functionalities of your developed product.

Product Prototype Development

Phase 1: Concept Design Prototyping:

This stage of prototyping is all about testing the user experience and preference with the design of the product and wining their faith and loyalty. Third-party comments will help you add value to your product. Below are the types of a prototype that are usually developed at this stage:

  • User Interface Mock-ups
  • Foam models
  • Wireframes, virtual 3D Renderings
  • Wizard of Oz functionality (beauty models)

Prototype development cost at this stage is comparatively low, as most of the materials required for the prototyping are off the shelf, including 3D custom prototype parts, tape, glue, cardboard paper, canned software, and module electronics. The prototype cost at the product design stage can cost you from something around $1000, including preliminary sketching and mock-ups. However, if you are still interested in learning more about the cost and time, then GID is open for a free discussion. Call product development expert – Jim Grimes at +1714-323-1052.

Stage 2: Design Engineering Prototyping:

This stage of new product development is all about building a model engineering prototype that quantifies possibilities to make design decisions. A prototype developed at this stage allows you to test the stress, structural, and thermal risk associated with the new product development. You can also test specific components and mechanism functionality. Below are the types of a prototype that are usually developed at this stage:

  • Scale models of product
  • Proof-of-concept: hand-built models

The cost of prototype development at this stage may start from $5000, but it may vary based on the complexity of the product to be developed. Get in touch with product prototype development experts to learn more about why you need a prototype at this stage – email us at info@gidcompany.com or call Jim at +1714-323-1052.

Stage 3: Final Prototype Development and Testing:

This stage outputs a production alpha prototype that is fully functioning with all the features and functionalities. Below are the types of a prototype that are usually developed at this stage:

  • Fully functional alpha prototype to thorough testing

As stated earlier, the cost of product development and product prototype development totally depends on the type of product, volume output, and features within. Being an alpha prototype, the cost of prototype development may depend on custom parts, electronics, and fidelity required. You can watch our YouTube channel for more informative videos on product prototype development https://www.youtube.com/c/Gidcompany.

Want to prototype your idea? Call Jim at +1714-323-1052

If you have an innovative product idea that can simplify the life of the masses and earn you a good fortune but don’t know from where to take a start, then “Jim Can Help”. Jim is a product development expert in California and can help you bring your ideas to life. Whether you want to discuss the scope of your idea or want to prototype it, Jim can answer all your questions and solve all your doubts at once. For a free consultation with Jim Grimes, please call +1714-323-1052.

James Grimes is definitely the person you need to meet at GID Development Corporation. Whether you want to develop healthcare devices, consumer goods, military components, or anything else, Jim can meet your expectations. To have a better insight on the skills and capabilities, please have a look at our portfolio https://www.gidcompany.com/our-portfolio/.

Also, you can get connected with us on social platform:

We are active on social networks, so if you have any questions, feel free to call us or drop us a message, and we will get back to you within the next 24 hours.