What Is Production Development? Pregnant Definition Example

What is Product Development? Meaning

First let’s empathise the pregnant of discussion viz., production in addition to development.

1. Product agency whatever marketable affair amongst simply about utility inwards it, produced either past times a labour or through serial of automated processes.
2. Development is an deed of making or achieving a continuous progress inwards something past times someone. Progress transit from an before policy (traditional approach) to an advanced policy (modern approach).

Product evolution is a specialized activity. It is done to improve the existing production or to innovate a novel production inwards the market. It is too done to improve the before features or techniques or systems.

Image credits © Prof. Mudit Katyani.

Generally, it agency a new-product development.

New-product evolution agency to innovate a brand-new production inwards the market. It agency to add together a fresh production to an existing work of products.

Normally, a society starts amongst i or ii products. However, subsequently simply about fourth dimension it has few to a greater extent than products inwards its work (say from xv to 20). This is possible only because of new-product development.

Refer next diagram to know the basic pregnant of production development.

Product evolution takes place, industrial plant or functions every bit under:

1. Creation of an alone novel production or upgrading an existing production past times exploring all possibilities in addition to outcomes.
2. Innovation of a novel or an existing production to deliver ameliorate in addition to enhanced services to end-users.
3. Continuous improvement of a novel production or enhancing an existing production past times giving preference to satisfy the need of end-users.
4. Enhancing the utility of a novel production or upgrading features of an existing product, for the personal and/or commercial use, to expand the defined destination (objective).

Product evolution involves opportunity of investing precious time, coin (capital) in addition to intellectual resources. Therefore, it is necessary that it is well-planned.

A practiced production evolution helps to:

1. Create novel concern opportunities in addition to convey growth.
2. Boost productivity in addition to profitability of the entrepreneurs.
3. Enhance the satisfaction levels of the consumers.

Definition of Product Development

In general, the definition of production evolution tin give notice endure stated every bit follows:

“Product Development is a creation, innovation, utility enhancement or continuous improvement of before features (design, service, etc.) of an existing production or developing (manufacturing) an alone novel form of production to satisfy the requirements of its end-users (consumers).”

Example of Product Development

Following are simply about mutual examples of production development.

• Packing wheat flour inwards retail bags for family consumption.
• Packing cooking crude inwards retail pouches for family consumption.
• Converting solid set down work phones into wireless handsets for slowly portability in addition to full-time access to communication.
• Modify desktop computers into light-weight laptops to repose portability.
• Transform a traditional library into an e-library to facilitate faster searching in addition to accessibility of electronic books in addition to other digital documents.
• Convert a uncomplicated bird into a fighter jet to hit a greater speed.