Product Development Process Product Development Steps Idea Generation

Product Development Process

Product Development Steps • • • Idea Generation Market and Target Consumer Define Product/Guardrails Prototype Development Testing and Validation Commercialization/Launch

Idea Generation • Brainstorm Ideas • Address requirements or guardrails for you r product • Narrow down ideas • Select a few to work on

Market and Target Consumer Determine your target market Consumer needs Identify your competitors Uniqueness Determine if people would actually purchase your product • Conduct focus groups • • •

Define Product/Guardrails • Establish key attributes (taste, texture, color, and source of ingredients) • Shelf Life • Packaging Materials • Labeling-Natural, Organic, etc • Price point/Cost

Prototype Development • • Develop the product Compare to competitors Evaluate ingredient functionality Manufacturing Considerations

Testing and Validation • Sensory Evaluation • Final Selection

Commercialization/Launch • • Finalize Formulation Scale-Up Decide on Final Product Name Marketing Strategy Distribution Profit Goals Evaluation of Sales/Product

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