Introduction to product development
Introduction to product development

The following In-house Advisor practice note provides comprehensive and up to date legal information covering:

  • Introduction to product development
  • Overview of the product development department
  • Questions to ask of the product development department:

Overview of the product development department

The product development department usually works very closely with the customer facing departments within an organisation, such as sales and marketing, working to create new products or services, and/or enhance existing products based on customer and market feedback. Steps typically taken by the product development team in creating new or enhanced products or services may include the following:

  1. identification of a new opportunity, such as through surveys, customer research, focus groups, competitor information, general feedback

  2. brainstorming ideas for products/services

  3. feasibility—can the product/service be developed, will it do what is required and expected

  4. product/service development and testing

  5. commercial analysis of cost, proposed pricing, s

Popular documents