1. Customer Requirements: How potential customers requirements are identified, defined and changed.
2. Product Strategy: How new product development is aligned with internal constraints and with external factors like regulations and competition.
3. Concept Generation: How candidate concepts for new products are generated or acquired.
4. Concept Selection: How candidate product concepts are screened and concepts selected for further development.
5. Concept Design: how the selected concept is designed at a high level.
6. Detail Design & Redesign: How product details, materials, dimensions are specified.
7. Manufacturing and Launch Preparations: How manufacturing processes are developed and channels to get the product to the customer are established.
8. Product Improvement and Disposal: How product defects are identified, improvements made, and how products are disposed of at the end of life.
9. Goals: The quantified objectives of performance for the new product development system and its products.
Identifying Best Practice in New product development for a startup company is essential as there are aims and objectives which have defined that a company must know these tactics, the nature of the problems that occurs in new product developments for a startup companies.
The companies use different tactics to implements the best practices which was earlier identified in aims and objectives.
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