The product usually starts as a concept which, if feasible, develops into a design, then a finished product. Today as many companies have demonstrated over time, product design and development contributes greatly to the improvement of competitiveness, because it permits reduction of costs, increase of quality, and often, shortening of the time necessary to get the product on the market. The product, in turn generally satisfies customer’s necessities and demands.
The process of product design and product development is now based on many factors like : customer’s requirements , quality, reduction of manufacturing costs and controls, the assembly and distribution process , environmental impact before and after manufacture, product disassembly reuse and recycling , safety , hygiene , ergonomic factors , etc. These are important factors of product design and product development which must be taken into account from the very conception of the product, in order to satisfy the dynamics of ever more competitive markets as regards price, quality, price, manufacturing, recycling etc. We can also reduce development costs and time necessary for commercialization and co-ordinate and schedule the activities involved in the product design and development of products within the entire set of activities , taking into account time , tasks , resources , manufacturing , etc. all in the context of company.
We should prepare a economic model to estimate the development costs, the initial investment that will be needed , the manufacturing costs , and the income that will result for each of the selected concepts . We should make economic analysis as it also estimates sources and cost of financing based on the rate of interest and schedule of payment.
For the implementation of product design and development , there are three activities which are generally associated; (a) Presentation of the Methodologies (b) Development of practical aspects (c)Creation of work teams. These activities play an important role implementing the process of product design and development.
To conclude, we can say, if a company wanted its product to be competitive in market it must address factors like cost, schedule, performance and quality .Cost plays a very important role in the accession of a product as the customer will only use their limited financial resources only for the product which will be affordable to them. As we know that customer satisfaction is an issue gaining focus from Managers and Marketers alike within the increasingly competitive service industry, companies must keep the interests and demand of a customer during their process of product design and development.