New Product Development
We get involved in the creation of products with new or different characteristics that offer new or additional benefits to the customer. This may involve, for example: modification of an existing product or its presentation; or formulation of an entirely new product that satisfies a newly defined customer want or market niche; or adopting alternative manufacturing technologies, materials and processes.
A Six Step Process To Product Development
In the new product development process there are six phases. The 3D Consultancy team generally help businesses navigate the last two phases. Although the 3D Consultancy team add most value in the last two phases we are often involved in the earlier phases.
The first four phases are:
1. New Product Strategy: This is the phase where businesses define their goals and objectives for the new product.
2. Idea Generation: Collective brainstorming ideas through internal and external sources.
3. Screening: The generated ideas must go through a screening process to filter out the unviable ones.
4. Concept Development: The business undertakes research to find out the potential costs, revenues and profits arising from the product.
The last two phases where the 3D Consultancy team help their clients are:
5. Product Development & Testing: New Product development involves the actual design and manufacture of the product. Development commences with the manufacture of a prototype that enables market testing. Based upon the results of the tests, the business decides whether to undertake large-scale production or not.
6. Commercialization and Rollout: Favourable results in the development stage precede large-scale production and commercialization. In this phase, the business launches its marketing activity for the new product.
Get In Touch
Contact us to discuss how we can help you with your new product development project.