6 stages of new product development

The 6 stages of new product development (NPD) are a widely recognized framework for managing the process of creating and launching a new product. These stages are:

Stage 1: Idea Generation

• Identify opportunities for new products or services
• Generate a large number of ideas through brainstorming, surveys, and other methods
• Evaluate ideas based on their potential for success, market demand, and alignment with company goals

Stage 2: Idea Screening

• Evaluate the ideas generated in the previous stage
• Assess the feasibility, market potential, and competitive advantage of each idea
• Select the most promising ideas to move forward

Stage 3: Concept Development

• Develop a detailed concept for the selected ideas
• Define the product's features, benefits, and target market
• Create prototypes or mock-ups to visualize the product
• Conduct market research to validate the concept

Stage 4: Product Design

• Develop a detailed design for the product
• Create a functional prototype or a working model
• Conduct testing and refinement to ensure the product meets the required specifications
• Develop a plan for manufacturing and production

Stage 5: Testing and Refining

• Conduct testing and evaluation of the product
• Gather feedback from customers, users, and other stakeholders
• Refine the product based on the feedback and testing results
• Make any necessary changes to the design, features, or functionality

Stage 6: Launch and Commercialization

• Launch the product to the market
• Develop a marketing and sales strategy to promote the product
• Establish distribution channels and logistics
• Monitor and evaluate the product's performance in the market

These stages are not always linear, and there may be overlap or iteration between them. Additionally, the specific stages and activities may vary depending on the company, industry, and product type.