What Is Production Development? Pregnant Definition Example

What is Product Development? Meaning

First let’s sympathise the important of give-and-take viz., production as well as development.

1. Product agency whatever marketable affair amongst about utility inward it, produced either yesteryear a labour or through serial of automated processes.
2. Development is an deed of making or achieving a continuous progress inward something yesteryear 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 inward the market. It is every bit good 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 inward the market. It agency to add together a fresh production to an existing draw of products.

Normally, a society starts amongst 1 or ii products. However, afterwards about fourth dimension it has few to a greater extent than products inward its draw (say from xv to 20). This is possible simply because of new-product development.

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

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

1. Creation of an exclusively novel production or upgrading an existing production yesteryear exploring all possibilities as well as outcomes.
2. Innovation of a novel or an existing production to deliver ameliorate as well as enhanced services to end-users.
3. Continuous improvement of a novel production or enhancing an existing production yesteryear 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) as well as intellectual resources. Therefore, it is necessary that it is well-planned.

A skillful production evolution helps to:

1. Create novel draw concern opportunities as well as convey growth.
2. Boost productivity as well as profitability of the entrepreneurs.
3. Enhance the satisfaction levels of the consumers.

Definition of Product Development

In general, the definition of production evolution tin survive 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 exclusively novel sort of production to satisfy the requirements of its end-users (consumers).”

Example of Product Development

Following are about mutual examples of production development.

• Packing wheat flour inward retail bags for identify consumption.
• Packing cooking crude oil inward retail pouches for identify consumption.
• Converting dry reason draw phones into wireless handsets for slow portability as well as full-time access to communication.
• Modify desktop computers into light-weight laptops to remain portability.
• Transform a traditional library into an e-library to facilitate faster searching as well as accessibility of electronic books as well as other digital documents.
• Convert a unproblematic bird into a fighter jet to accomplish a greater speed.