Skip to content

Product Development Definition

Marketing Definitions

11 Oct 2019 • 1 min read • Austin shong

Product Development Definition

What is Product Development?

Product development definition: product development is the continuous improvement and modification of a product or service.

Product development looks to improve a product, or customer’s experience, through the addition of new:

  • Features
  • Benefits
  • Presentation
  • Versions

These changes are typically driven by customer feedback, often provided by early adopters, industry influencers, or users with a high net promoter score.

A simple example would be:

  • Audi wants to improve its Audi TT car.
  • They ask for feedback about the current version.
  • Customers say:
    • “It uses too much fuel”
    • “It is hard to park”
    • “I can’t fit my golf clubs in the trunk”
  • They use the feedback and make changes such as:
    • Increased fuel economy
    • Additional parking sensors
    • More storage space

Manage all your social media accounts in one place.

Craft, schedule, & auto-post content to all your social channels, then track analytics and manage interactions from a single, easy-to-use dashboard.

Popularity of the term Product Development

Concept related to Product Development

Additional resources about Product Development

Loomly is the ultimate Brand Success platform that helps your marketing team manage, nurture and amplify your communication on social media. Start your 15-day free trial now.
In need of a better way to manage your social media?