Defining Problems and Opportunities in New Product Development (Part 1)

Abstract

Developing new products and services is an iterative process that involves (1) identifying a problem or opportunity that needs to be addressed, (2) generating concepts or solutions that address the problem, and (3) conducting experiments and tests to learn about the success or failure of those concepts. This note describes the first of these activities. Excerpt UVA-OM-1579 Aug. 11, 2017 Defining Problems and Opportunities in New Product Development (Part 1) Developing new products and services is an iterative process that involves (1) identifying a problem or opportunity that needs to be addressed, (2) generating concepts or solutions that address the problem, and (3) conducting experiments and tests to learn about the success or failure of those concepts. This note describes the first of these activities. The user is at the center of this process as shown in Figure 1. Figure 1. The new product development cycle. Source: Created by author. . . .