5 Vital Stages of New Product Development

More than 25% of enterprises’ total revenue comes from the releases of new products. Thus, launching a new product or a service is a good chance to increase a company’s income. But a really strong launch requires a consistent, step-by-step approach. We offer you our ready-made plan of 5 stages for an effective development process.

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What is a New Product Development Process?

New product development is launching new goods or services to the market, where they become available for purchase. In the case of app and mobile website development, many specialists are involved in this process, including product managers, designers, software engineers, marketers, sales managers, etc.

5 Vital Stages of New Product Development

So, how to turn your idea into a great product step by step?

1. Idea generation

At this stage, a company should generate ideas and select the best ones. For this, a classic brainstorming technique can be used. While generating ideas, the team should consider what a client needs.

Then make sure that the chosen idea is feasible. For this, Proof Of Concept is used. To check the practical feasibility of an idea, developers test particular assumptions. It is worth investing in the website or mobile app prototype development only if you are sure your idea works.

2. Research

Research is a way to get answers to vital questions for a future project.

Questions to be answered during research:

• What is the size of the market?
• What are the risks for the company?
• What will be the return on investment?
• Which are the advantages of your competitors’ products?
• What are the customer’s needs?

This information will help you to understand whether your product will be in demand. Based on research, formalize all requirements for the product according to your business goals and consumer needs (features, appearance, tech stack, etc.)

3. Prototyping

It’s time to move on to design and development. You will create a mobile app prototype or website prototype.

First, you need to visualize your future product. At the initial stage of the design process, the wireframe for app development or web development is created. Mobile app wireframing is a sketch that illustrates how the app or website will look and work. It allows all team members to agree on its design and clarify further actions on the project. Based on the wireframe, a mockup is created — a more detailed and realistic version of the design. Later, the mockup is improved and becomes a prototype, which is supplemented with high-fidelity UI elements.

At the prototyping stage, companies often develop an MVP (Minimal Viable Product) instead of a full-fledged product. This is the version of the product with the minimum feature set. MVP allows you to make a quick launch and get profit faster, and then add new functionality based on customer feedback.

4. Testing

Testing is the opportunity to solve serious technical problems or add requested features. At this stage, testers check that the mobile application prototype or website prototype meets all the requirements. If you create a mobile app prototype, it’s worth transferring the draft version to beta testing, i. e., to the group of end users.

5. Commercialization

Once the product is ready and tested, it is released to production and becomes available for end users. It’s time for the first sales. This stage usually involves deployment, marketing campaigns, the work of sales managers, and providing customer support.

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Final Words

To create a well-tuned and relevant product for the client, take the proper steps towards the goal. Pay special attention to UX/UI. A compelling user experience shapes a client’s trust and loyalty.

If you want to implement your ambitious idea into a real digital product, we can help you. We create user interfaces and user experiences for apps and websites by defining an efficient UX strategy. Contact us to turn your idea into an unforgettable product!