In business and engineering, new product development covers the complete process of bringing a new product to market. A central aspect of NPD is product design, along with various business considerations.
Product development is the process of creating a new product to be sold by a business or enterprise to its customers. In the document title, Design refers to those activities involved in creating the styling, look and feel of the product, deciding on the product’s mechanical architecture, selecting materials and processes, and engineering the various components necessary to make the product work. Development refers collectively to the entire process of identifying a market opportunity, creating a product to appeal to the identified market, and finally, testing, modifying and refining the product until it is ready for production. A product can be any item from a book, musical composition, or information service, to an engineered product such as a computer, hair dryer, or washing machine. This document is focused on the process of developing discrete engineered products, rather than works of art or informational products.