Product Development Cycle includes planning, design, development, testing, product launch, and maintenance. The goal of starting point is to highlight the main idea and create the initial concept. The next step is to prepare a product roadmap and architecture, key requirements, and specifications. The same steps can be followed in existing solutions. To meet customer expectations and market dynamics, innovations should be implemented to products that already are on the market.
The design process is focused on creating a product that fulfills mentioned requirements and ensures cost efficiency and usability for end-users at the same time. The next phase is product development ended with testing to evaluate the quality. The final stage is releasing ready product, but in many cases, it demands further maintenance.