Product development

/pɹˈɒdʌkt dɪvˈɛləpmənt/

/pɹˈɑːdʌkt dɪvˈɛləpmənt/

Product development

the process of either bringing a new product from concept to market release or renewing an existing product

Examples

1. We should go through the established channels for product development.

2. With the backing of a wealthy investor, the startup has deep pockets to fuel its expansion and product development.

3. The entrepreneur wears several different hats in the early stages of their business, including product development, marketing, and fundraising.

4. Product development requires an abundance of analytic thinking.