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Essay / New product development: a process of developing new products
A. A new product development process is one, which consists of an integration of technical and commercial factors in an industry for product development and modification. The NPD process consists of six phases which are1. Ideation2. Concept development3. Develop a business case4. Product development5. Market testing6. Market LaunchConcept development is an NPD process in which the product idea is realized in verbal or pictorial form. During this stage, the concept, ideas and technologies are explained to the customers. A group of users is selected and the concepts, design and prototypes of the product are explained to them and they are asked to give their feedback on the new product. If customer feedback is positive, a business analysis is carried out. In the beginning, Black & Decker worked on competitive opportunities. And they explained the concepts, design and prototypes of the products to customers. And customer feedback indicates that the handles were generally bulky and uncomfortable. Power capacity was another drawback as users needed more power and torque. The product features and controls were clunky and confusing. The team members then planned to redesign the product to meet the customer's requirements. They first worked on redesigning the handle to be more compact and comfortable. The existing ones had big handles because they have two rechargeable batteries. The team wanted a handle that could hold one battery rather than two without losing power. After four months of exhaustive work, a solution emerged. It is ergonomic and the handle provided the necessary energy. They then worked on designing the motor to get more power and torque at any given voltage. Suppliers have stated that there is no such motor... middle of paper ...... to create a more compact and ergonomic grip. Without reducing battery life, the team wanted a handle that could hold a battery. After months of exhaustive design and testing, the solution was born. It felt strong and, for added refinement, the grip was damped. Engine design was the second major problem faced by all major competitors purchasing engines from two global suppliers. The Compact Power team specified requirements for the motor, which produces higher torque at any given voltage, significantly higher than existing ones, but suppliers said there was no product to offer. Compact Power boldly decided to manufacture its own engine. Financial analysis determined that this is an additional expense and the big question is also whether the engineers would meet the design requirements. In the end, the team outperformed and presented a high performance engine..