What are the 8 stages of new product development

The 8 stages of new product development (NPD) are a widely accepted framework for managing the process of creating and launching a new product. These stages are:

1. Idea Generation: This stage involves generating and collecting ideas for new products or services. This can be done through various methods such as brainstorming sessions, customer surveys, market research, and internal idea generation.

2. Idea Screening: In this stage, the generated ideas are evaluated and screened to determine their feasibility, potential, and alignment with the company's goals and objectives. Ideas that pass this stage are considered for further development.

3. Concept Development: The selected ideas are developed into more detailed concepts, including product features, specifications, and design. This stage involves creating prototypes, mock-ups, or other visual aids to help refine the concept.

4. Product Planning: In this stage, the product concept is further developed, and a detailed plan is created for its development, production, and launch. This includes defining the product's target market, pricing, and distribution channels.

5. Design and Engineering: The product design and engineering teams work together to create a detailed design and specification for the product. This stage involves creating prototypes, testing, and refining the product's performance, functionality, and aesthetics.

6. Testing and Validation: The product is tested and validated to ensure it meets the required standards, specifications, and customer expectations. This stage involves conducting various types of testing, such as usability testing, performance testing, and quality testing.

7. Production Planning: The product is prepared for mass production, including setting up production lines, sourcing materials, and scheduling production runs.

8. Launch and Post-Launch Review: The product is launched into the market, and a post-launch review is conducted to evaluate its performance, gather feedback from customers, and identify areas for improvement.

These 8 stages of new product development provide a structured approach to managing the process of creating and launching a new product, from idea generation to post-launch review.