New product developments

new product developments

Product development has evolved throughout the years. Its evolution has been conditioned by a higher awareness of the companies of the importance of considering the customer as the center of the new product developments.

The new process for product development, compared to decades ago, requires the participation of different areas of the company.

In the past, the companies would only carry out research in their labs, isolated from the customers, that is, not taking into account their needs or feedback.

The developed products were usually standardized to fit a market, and the customer only had a few options to choose from.

The reason for developing new products

Now, companies have a special need, they require to constantly update their products, devices or services. One of the main reasons for that is the fast advance of technology.

A TV can be innovative this year, but in two years, there will be new technologies that will leave today’s version as an “obsolete” development. That wasn’t the reality years ago, a TV could last longer inside a house without being constantly upgraded or modified by the manufacturer.

However, nowadays the companies that produce consumer electronics, IoT devices, wearables, among others, need to develop new products. If they don’t develop new devices, they will stay behind the competition. That’s where hardware developments come to play.

For instance, the market requires even more integrations for TVs, but preserving simplicity:

  • Access to streaming services.
  • Quick connection to cell phone.
  • Voice commands.
  • Video calls.
  • Laptop connection.
  • Installing apps.
  • Good performance for gamers.

What are the new stages of product development

The new dynamics of product development require entrepreneurs, startups, and companies to think ahead to their product launch.

Many of these organizations may not have an inhouse engineering team that will be constantly working on product development, and maybe they won’t have the marketing team fully dedicated to product management. That’s why it is necessary to hire a team or company that knows about engineering, prototyping, electronics, IoT, hardware, software, and firmware.

Imagine you need to upgrade a device that you already have in the market. Maybe you don’t know where to start, or what are the necessary steps. Probably you only need to upgrade the electronic components with a better PCB and chips. But that doesn’t mean it’s going to be an easy task.

If you want your new product to be successful, you will need electronic product development companies.

developing new products

They have the expertise to modify all electronic components, change the internal design of the PCB, connections, modules, and firmware.

Though this example may sound simplistic, developing new products requires to follow a process:

  1. Plan and discover
  2. Research
  3. Planning
  4. Build
  5. Testing
  6. Launch

Every stage needs to be carefully followed and developed to allow the product to evolve correctly. If you decide to build a new iteration or version of the product you already have in the market without brainstorming new features, or investigating beforehand the market to confirm the current reactions of your audience, you may fail with the new development.

Remember we are no longer in the era where consumers couldn’t object to a new product launch, since there weren’t many options available. However, now they have the power to change the features of a product as they wish.
Needs of people are constantly changing because of technology. Now people want faster computers, faster internet, specialized phones, and better IoT product designs; anything that simplifies life and delivers interesting data.

Product development trends

Technology has advanced to a level where it has replaced the old fashioned desk that had many devices on it.

new products development

Now, the trends of product development try to integrate more features into one device. You can see this example with computers, they are way smaller than years ago, with wifi connection to integrate any device, and with access to the internet to store tons of information on the cloud. Now, desks may look like the picture below.

development of the product - evolution

What could the upcoming years bring? New technologies will keep complementing each other. This will speed up specially thanks to the importance of IoT, since people want more devices integrated between them.

The Internet of Things market is expanding rapidly. It is expected that these devices will transform the way we interact with technology, and with other people.

The IoT technologies gather information that is important for people, and they can use it to take care of their health, get better at sports, and improve physical performance. On the other hand, imagine other scenarios like the industry or retail, IoT products help to improve the manufacturing and distribution processes. These kinds of devices foster the constant innovation and development of products. You can see many IoT devices examples in real life.

Innovations make webs to become apps. Video retailers to become streaming platforms. Taxi fleets mutate into companies with no cars that provide transportation. You need to see the bigger picture, and understand that your product will need to be redesigned and developed over and over again.

When does it end? It ‘s up to you. You need to answer the following:

  • How long do you want to be in the market?
  • Do you want to stay behind competition?
  • How can you shape your product or introduce new features to make it more attractive
  • What is the general product trend in your area?

New products development will demand constant innovation. But you don’t have to worry about that part. You can get help from a specialized company and invest in product prototype development, consider this as a must to upgrade your product and keep it attractive in the market.

Developing a product guarantees you generate more sales in the market, grow your company, and keep your business as a top competitor.

If you want to go further, new product development consultants can help you out.

Do you have questions? Contact Us!

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