The business landscape today is dynamic and competitive. Taking the right steps in product development is a crucial step if you want to invent, produce, and successfully go to market with a new product. The product development process is a cycle that a product must undergo from conceptualization to final introduction into the market. There are five phases in the product development process. They include ideation, validation (or screening), prototyping (concept development), product development, and then commercialization.
Phase 1: Ideation
All products begin with an idea. Sometimes it may stem from feedback from customers of an existing business, or the idea may be born out of necessity as a problem solver. Whatever the product, it begins here, and sadly, often ends here. Too often this is because the person with the idea lacks the tools, resources, or knowledge on how to proceed with the next steps in bringing the product idea to life. This shouldn’t be the case and is why our Imagination Exploration Service was born.
Phase 2: Validation (Screening)
Phase two is where you begin researching topics surrounding your product idea to determine its viability. Do other people have the same problem your product idea would solve? Is this something that would benefit a mass market or a small niche of people? This is where you can rely on tools like research surveys, focus groups, or even just asking your customers, team, and others around you if they agree the problem needs solving. It is also recommended that you conduct a SWOT analysis to identify the strengths and weaknesses as well as opportunities and threats that already exist in the market.
Phase 3: Prototyping (Concept Development)
This is where RMG comes in. Once you have an idea, and you’ve decided it’s a viable option to pursue, we’re here to help. Prototyping has its own process within the full product development process. It begins with a requirements analysis to determine, in detail, exactly what the product’s purpose is, how it will work, and the best way to design it via 3D Modeling. Once the 3D model has been developed and refined, it’s time to produce the actual prototype. This may often be a small-scale 3D Print or Machined product that is created for evaluation. During the evaluation phase of prototyping, the client is testing the functionality, strengths, and weaknesses of the prototype. If needed, prototyping may have several iterations of improvements as the concept is being tested in the real world.
Phase 4: Product Development
Upon successful completion of prototyping, it is time to actually develop the iteration of the product to go to market. Depending on the product, this may be for a new, real-world round of market testing, which could result in the need for small-scale manufacturing. Nonetheless, the product idea is moving out of prototyping into a phase of manufacturing. Whether it’s machining, 3D Printing, Injection Molding, etc., RMG will help you determine the best solution for your goals during this phase of product development. For some products, the creator or inventor may opt to go straight to large-scale manufacturing, which may have a different method of manufacturing than small-scale production. Either way, RMG is here to support you through the entire process, making sure you clearly understand the benefits of each viable solution.
Phase 5: Market-Entry (Commercialization)
For those engineers, creators, and inventors who desire to go to market, this is where that process begins. Your product development process begins to move out of the engineering, design, and manufacturing phase and into the business and marketing development phases. This is where we’re thrilled to have partnered with Raine Digital, an agency that specializes in business and marketing development. Together, RMG and Raine Digital are able to help customers through all the phases of product development, from ideation all the way to marketing and everything in between.