New Product Development

NPD/ID vocabulary

Bill of materials (BOM): A table containing a list of the components and the quantity of each required to produce an assembly.

BriefInstructions and requests provided to design team prior to the commencement of a project. 

Business analysis: The practice of identifying business needs and determining solutions to business problems.

Commercialization: The process of introducing a new product or production method into the market.

Concept design: An early phase of design process, where the broad outlines of function and form are articulated.

ErgonomicsApplication of principles that consider the effective, safe and comfortable use of design by humans.

Ideation: Idea generation or brainstorming.

Industrial design: The process of designing products used by millions of consumers around the world.

Market research: An organized effort to gather information about target markets or consumers.

New product development (NPD): The complete process which involves transformation of a market opportunity or product idea into a product available for sale.

New Product Introduction (NPI): New product introduction is the complete process of bringing a new product to market.

Patent: An exclusive right granted to an inventor by a sovereign authority, for a specified time period.

Pilot Run: An initial small production run produced as a check, prior to commencing full-scale production. 

Prototyping: An early sample, model, or release of a product built to test a concept or process or built to act as a commodity to be replicated or learned from.

SketchAn image that is quick to generate and does not contain complete detail.

S.W.O.TAnalysis framework for a company relative to its competitors, market, and industry: Strengths, Weaknesses, Opportunities & Threats.

Test marketing: An experiment conducted by companies to check the viability in the target market before full scale manufacture.

Prescient Technologies

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