on 08 November 19
“Know everything you need to know about stage gate process and product development with this complete guide.”
Do you want your organization to improve its product quality, increase innovation, speed, productivity and profitability? Do you want your new product projects to avoid the risk of failure? Well, then you need to follow the critical practice of stage gate process, a product development process that can help you research market, innovate, integrate different ideas, align and implement them to perfection. The process can alter the competitive landscapes in your industry and create new markets as well.
The development process is simple and involves a set of stages, also known as stages. These stages are based on the assumption that product development begins with ideas and ends with the successful launch of the product in the market. It is based on the concept of researching, having a broader and more cross-functional view of the market and product development process.
The complete guide to the process is divided into the stages mentioned below:
Stage- Idea Discovery
Also known as Phase 0, this is the stage where the company decides that it wishes to pursue a new product development. Brainstorming is a part of this process, wherein idea generation team decides on different ideas, searches for newer business opportunities. It can be communicating with the customers and see what makes them cling to a brand. Similarly, they may be contacting suppliers so that the company can act on previously untapped possibilities.
The first phase involves quick and inexpensive preliminary investigation on the project, majorly a research thatâs undertaken to understand whether the product or the project can be worthy of the corresponding market. Strength and weaknesses are determined in this stage of stage gate process as well as what is going to be offered to the potential customer. Competitors are evaluated for threat.
Stage- Build the Business Case
Primary research is undertaken, at both market and technical levels to include product and project definition. This process also involves decision on the proposed plan for development.
After the proposed design is approved, this stage gate process involves actual detailing of the design and implementation of the operation for a full scale production. The project then goes onto a next stage.
Stage- Testing and Validation
No new product is launched into the market without proper trials and tests in the lab. Therefore this particular stage involves verification and validation of proposed new product, its branding and marketing plan as well as production and operation.
Once the product is tested for its viability, its full scale operations, production and marketing and selling process begins. Commercialization of the product or its launch is the last stage in stage gate process.
It must be noted that the process involves several gates as well, where a Go-Kill decision is taken. This is to ensure that each stage follows a proper method and quality of execution, evaluation and business rationale.
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