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| Business of Information Technology > Business Processes > |
Product Development
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ALSO CALLED: New Product Introduction, Electro-mechanical Product Development, NPI, Product Development Methodologies, Product Development Strategies, New Product Development, and NPD
DEFINITION: Product development is a broad field of endeavor dealing with the design, creation, and marketing of new products. Sometimes referred to as new product development (NPD), the discipline is focused on developing systematic methods for guiding all the processes involved in getting a new product
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PRODUCT DEVELOPMENT DEFINITION (continued): … to market. There are a number of organizations dedicated to supporting product development professionals, such as the Product Development and Management Association (PDMA) and the Product Development Institute (PDI). According to the PDMA, the organization's mission is "to improve the effectiveness of people engaged in developing and managing new products - both new manufactured goods and new services. This mission includes facilitating the generation of new information, helping convert this information …
Product Development definition sponsored by SearchCIO-Midmarket.com, powered by WhatIs.com an online computer dictionary
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