Is Product Development Part of Marketing

Is Product Development Part of Marketing?

Is product development part of marketing? What are the parts of this kind of process? What do you think? To know more about this topic, keep on reading.

Is Product Development Part of Marketing

Product development is part of marketing. But what are the parts of this kind of process? There are several parts involved in product development. These are planning, conception, designing, prototyping, testing, and commercialization.

Planning is the first step of product development. The company tries to study the market and its consumers. The company must consider what the consumers want and what the competitors have done. It plans to develop new products that will be accepted by the consumers and the competitors will not be able to do it.

Then, it comes with conception. The company will conceive a new product or service that will support the business goals. The business goal is to make a profit while giving customers what they want.

Further, the next step is designing. The company must design a new product or service that meets all requirements of customers. Especially in what they want or need. It should be able to meet those requirements even though it has certain limitations compared to other products or services in that category. So, they must work hard to make a better product than their competitors.

To make sure that they have a better idea about how to develop a better product, they will prototype it first before producing it commercially. They apply every detail from every stage into it by making it look like a real product made for customers to purchase and use in their daily lives. 

After that, they test it on their customers to find out if their needs are satisfied after using the new product or service. If yes, then the product can go into the commercialization stage. If not, then they must go back to each stage until there is no problem found.

Product Development: Final Stages

Commercialization means that the company is ready to produce their new products or services and put them on their market for customers to purchase them. This also means that they can earn some profit from this new product or service. 

As well as get more opportunities to improve their future products or services by learning from mistakes made during this process. So, you can see that there are several steps involved with the product development process. 

Without this process, most companies will find it hard to develop new products and services for their markets and customers. By doing this, they can gain more profits and satisfy their customer’s needs by providing them with better quality products than before.

Final Words

As you can see, if you want to develop a new product, not only the product development process must be involved in it, but also the marketing process. Both of these processes must meet each other’s needs and requirements. Without marketing knowledge and involvement, product development will be useless.

So, it is very important to involve marketing in the product development process. They are in the same process.

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