ECOMMERCE
How To Develop A New Product From Concept To Market
Bringing your vision for an original product to life is frequently one of the biggest hurdles for aspiring entrepreneurs.
The product development process can seem almost mysterious, and when you hear the origin stories of other great businesses, the journey to a finished product rarely resembles a straight line.
For example, when Tina Roth-Eisenberg’s daughter brought home some semi-permanent tattoos she felt were lacking, she mobilized her community of fellow designers to create Tattly.
David Barnett, on the other hand, had to teach himself how to use 3D design software so he could prototype PopSockets, the now-popular phone accessory.
On their own, these inspiring stories don’t provide an end-to-end blueprint for product development, but the similarities they share reveal some of the steps founders consistently take on the road to starting a business and shipping a finished product.
The New Product Development Process In 6 Steps
New product development is the process of bringing an original product idea to market. Although it differs by industry, it can essentially be broken down into six stages: ideation, research, planning, prototyping, sourcing, and costing.
Here’s How To Develop Your Own Original Product Idea (And What To Consider At Each Stage):
- Ideation
- Research
- Planning
- Prototyping
- Sourcing
- Costing
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