New product development (NPD) is the process of bringing a new product to the marketplace. ... products that your business has never made or sold before but have been taken to market by others. product innovations created and brought to the market for the first time.

Outperform the competition. 

Discover details of your customers' unmet needs. 

Develop hypotheses. 

Build a prototype solution. 

Test with customers. 

Analyze variance. 

Pick strategy.