PRODUCT DEVELOPMENT
The new product development (NPD) and product refinement processes of The Farnsworth Group are designed to assist companies from idea generation to product launch - or at a specific place in between. A company's specific goal and current situation dictate the overall project scope and level of information required in the process. Regardless of whether a company is introducing a product concept that is new to the world or whether they are refining a product that has existed for hundreds of years, each phase of the NPD/product refinement requires information gathering and actions from three areas: Voice of the Customer (VOC), market input, and internal company processes.

VOC inputs assure the product development process remains focused on solving a market need. Even highly innovative or technologically advanced products will likely fail if they can not fill a need in the market.

Market input is required throughout the NPD process to evaluate competitive strengths and weakness, identify market or channel opportunities and ensure adequate market opportunity.

Internal information and planning requirements are integrated with the VOC and market information. This ensures concepts are on track with the corporate platform and are viable from a manufacturing standpoint.

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