What is NPD ?

This post is mainly for young inventors who are looking for new ideas to create their virtual/physical product in their field of expertise. Apart from the marketing issue they are facing as the number one issue which most of them don’t pay enough attention to, lacking the skills of creating a product in a systematic and standard way is the second issue.

Inventors and Innovators are always full of ideas and they usually come out with one idea and put their time and energy on creating the first release 1.0 of that product to patent it.

2 things are important here to mention.

1. Prototyping of the product should be done using some dedicated tools for that purpose.

2. Prototyping is only a part of a complete life cycle of new product development. You have to think about more important parts during your product development and don’t pospone it to the later stage. things like product price, product market, product delivery, and some more.

I would suggest you to read more. New Product Development or NPD is a key term. here is the definition from wikipedia:

In business and engineering, new product development (NPD) is the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief)

To improve your knowledge more about this important key term you may get involved with below association.

The Product Development and Management Association (PDMA) is a non-profit professional society that organizes and publishes information about the development of new products. You may also check this association http://www.pdma.org/

Read more about product development:

http://onlinelibrary.wiley.com/doi/10.1111/1468-2370.00075/abstract
http://en.wikipedia.org/wiki/New_product_development 

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