A New Product Development Process refers to the entire range of activities where a company conceptualizes and realizes a new offering. A new product concept might originate in the marketplace, a lab or workspace, or the so-called fuzzy front end. Ideas come from customer requirements, too. A new product release usually follows a process divided into stages, phases, or steps, by which a company conceives a new product idea and then researches, plans, designs, prototypes, and tests it before launching it into the market. The product release process is the specific series of steps or stages a company uses to achieve its realization of new offerings to satisfy a market need.
