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Product Development

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ALSO CALLED: New Product Introduction, Electro-mechanical Product Development, NPI, Product Development Methodologies, Product Development Strategies, New Product Development, NPD
DEFINITION: Product development is a broad field of endeavor dealing with the design, creation, and marketing of new products. Sometimes referred to as new product development (NPD), the discipline is focused on developing systematic methods for guiding all the processes involved in getting a new product to market.There are a number of organizations dedicated to supporting product development professionals, such  … 

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