product development
/ˈprɒdʌkt dɛvəlˈmɛnt/ · prod·uct de·vel·op·ment
noun
- The process of creating and bringing a new product to market, involving research, design, testing, and production. The company's product development team worked tirelessly to launch the new smartphone within the given timeframe.
- A stage in the product lifecycle where a product is refined and improved based on customer feedback and market trends. The company's product development team conducted user testing to identify areas for improvement in the product's user interface.
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Did you know? The concept of product development has been around for centuries, with ancient civilizations such as the Egyptians and Greeks developing and refining products for everyday use.