Product development process is when you decide to launch a new product and all you have to start with is just a concept or a few ideas. The process is long and packed with different stages during different intervals of time and you can take the help of a product development company or a product design studio. The market is a battle field where you need to keep moving or else you’ll get hurt and this is exactly why new product development or changes in old product line is critical.
Sometimes, companies mistake product development for manufacturing which are two entirely different things. When it comes to manufacturing, the process is repetitive without many new activities or tasks and can be done at a single place. This is not the case in product development during which different professionals need to contribute to a single motive in different ways during various stages.
It is not a rare thing that people end up in trouble because they believe in myths that are totally untrue things when it comes to new product development. Here are four myths that companies usually believe in which leads them to loss.
1. Pushing the resources to high levels will improve the process
Often, managers and other higher authority people force their employees to work harder and harder so that their performance is maximum. They think that if they fill the plates of their employees to the maximum, they will be forced to perform to the maximum of their potential which is in fact a fallacy.
It is more likely that the speed of the project decreases along with the quality of the performance even if the employees are good and experienced because of all the haste. Also, it exhausts the employees and drains out their motivation and interest towards their work which will bring only negative outcomes to the company as a whole. However, this approach may be good in an office where the work force is lazy and not productive for a long time.
2. You can save costs if you get the work done in large batches
Large batches mean longer queue time during the product development process which is not a good thing. Smaller batches help in improving the cycle times, the feedback, quality, efficiency and overall progress. The batch size should be balance with the holding costs and transaction.
3. Changes in the development plan means inefficiency of the team
New product development is a long process which will uncover new ideas as facts as you are working on it. This demand for changes in you plans which most of the businessmen consider as a negative thing. They believe that if the work force and the plan are good, they should stick to it and if they are forced to make changes that mean there is something wrong with their plan or their employees.
4. Products get better when more features are added to it
Products don’t get better if you bombard it with features. The goal should be to make it simple and user-friendly which means you need to include only those features that are essential.