New product development template

New product development template is a sample document that shows the stage, process and procedures of developing a new product. A well drafted new product development sample can help business to formulate a new product development strategy and new product development plan.


New Product Development Process

New product development need to link to business overall strategy and mission. There is no single recipe for successful product development process. You need to balance the product development effectiveness and product development efficiency. The product development strategy must be in harmony with the overall business strategy. It should both receive and provide direction to the business strategy. The balance of reactivity to proactivity will depend on the nature of the organization and its overall goals.

New product development need to consider the business product portfolio. The business goals and strategy should define the key criteria to be used in preparing the product development portfolio. The key factors that you need to consider during the new product ideas: the new product required level of technology; the inherent risks of developing the new product, the target market of the new product etc. Preparing a balanced portfolio of new product development, consistent with business aims, is a critical part of product development management.

New Product Development Template Design

There are free development plan sample you can download for use. However, you may create your own sample product development template based on your own consideration and business needs using Word or Excel. During the design process, it is important to consider the new product development format, new product development style and new product development outline.

The first key part in new product development template is the basic information and development objectives. In the section, you need to show the basic background information about the new products. For example, New product ideas:___, New Product Risk:___; New Product Benefits:__.

The second key part in new product development sample is the analysis of new product. In the section, you need to show the advantage and disadvantage of new product to the companies and existing product portfolio. For example, The new product target market:___; The new product development process:__.

The third key part in new product development example is the product evaluation and product resource. In the section, you need to show the initial evaluation of the new product and resources needed for developing the new products. Software Development Plan Template