New Product Development (NPD)
Definition - What does New Product Development (NPD) mean?
New product development (NPD) refers to the process of delivering a software product or technology from inception to market release. This term is often used when discussing tech knowledge and tools that are used to assist companies during various stages of the new product development cycle.
Techopedia explains New Product Development (NPD)
In IT, NPD may refer to specific software packages or products that help companies of any industry create and deliver new products. Alternately, NPD also may refer to specific software development processes used to create new products. Certain aspects of NPD in software development are specific to that process, while other principles remain consistent with NPD in other industries.
Concepts like idea generation, product development and testing and business analysis are common to all varieties of NPD. In contrast, stages of NPD in software development may be related to specific issues like core interface building, debugging and various types of testing related to digital networks or other delivery methods.
A comprehensive NPD term is sometimes called "DevOps," where various phases of product development are considered interactive, rather than linear or sequential.
Industry experts often focus on how NPD has changed to accommodate new and more dynamic approaches that are replacing older, linear ideas staged product development.