concept of developing a product

• What is the critical phase in the development of a product called?

  Concepts development
• What is the primary focus during the concepts development phase?

  Identifying the needs of the target market
• What is reviewed alongside the needs of the target market in the concepts development phase?

  Competitive products
• What is defined after identifying market needs and reviewing competitive products?

  Product specifications
• How is the product concept selected during the concepts development phase?

  Along with an economic analysis
• What does the economic analysis contribute to in the product development process?

  It helps outline how the product is developed
• What are the main steps involved in the concepts development phase of product development?

  • Identify needs of the target market
  • Review competitive products
  • Define product specifications
  • Select product concept
  • Conduct economic analysis
  • Outline product development process