Product Development Definition

product development definition

What is Product Development?

Product development definition: product development is the continuous improvement and modification of a product or service.

Product development looks to improve a product, or customer’s experience, through the addition of new:

  • Features
  • Benefits
  • Presentation
  • Versions

These changes are typically driven by customer feedback, often provided by early adopters, industry influencers, or users with a high net promoter score.

A simple example would be:

  • Audi wants to improve its Audi TT car.
  • They ask for feedback about the current version.
  • Customers say:
    • “It uses too much fuel”
    • “It is hard to park”
    • “I can’t fit my golf clubs in the trunk”
  • They use the feedback and make changes such as:
    • Increased fuel economy
    • Additional parking sensors
    • More storage space

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