Master the Software Product Development Cycle: this year Guide

There needs to be more than these inspiring stories to provide a blueprint for product development. The similarities show the founders steps to start a business and ship a product.

Product development is a complex process that requires many factors, including market research, product management, testing, and even product validation.

This guide will cover all you need about product development and offer tips to make it more efficient.

What is Product Development?

Product development is the entire process of bringing a product to market. This includes obtaining a product to market, renewing an existing product, and introducing a product to a new one.

This includes market research, product design, product roadmap creation, product launch, and gathering feedback.

Product design is only complete with new product development (NPD). Even after the products lifecycle is completed, the process continues.

It is possible to continue collecting user feedback and iterating on new versions by improving or adding new features.

Product development is a variety of jobs. Product development is a critical component of any company, whether an emerging business or an established corporation.

It involves all departments, including design, engineering and manufacturing, product marketing, UX/UI, and many others. Every group is essential in developing, designing, building, testing, and delivering the product. This guide will show you how crucial product management is due to product developments complexity.

What is the Software Product Development Cycle?

Software product development cycles (SDLC) are stages that software goes through throughout its life. This gives us an overview of the process involved in creating software.

It can be compared to your recipe to bake your favorite cakes. To bake a perfect cake, the first step should be to combine flour and cocoa powder.

The cake will only be worth the effort if the ingredients are mixed in one step.

Software product development is the same. There are steps that you must follow to create quality software. Follow the steps correctly and take action to ensure your efforts in software development are well-spent.

Software product development includes requirements gathering, design, development, testing, deployment, and maintenance.

A dedicated team of specialists handles each stage of the software development process.

The SPDC stages are generally the same regardless of our software development method. These stages can be implemented in various ways depending on the development method used.

Waterfall, Spiral, and feature-driven are the most common software development models.

In the Waterfall method, all stages are ordered sequentially. However, this restricts backward movement. Agile software development follows an iterative approach.

Teams can return to previous steps to fix a bug or to accommodate a new need.

What is the importance of the Software Product Development Cycle?

Why follow the standard cycle of software product development? The SPDC process can add value to your software product development ventures.

1. Quicker time to market - The development and turnaround times are significantly reduced

2. High-Quality Software -- The process follows synchronous steps in action, leaving little room for bugs or inconsistencies.

3. Facilitates Management Control - No matter how small or large the project is, the SPDC model provides project management control that allows them to visualize and track their development progress.

4. It gets the entire development team on the same page. When everyone understands the stages in the custom software development lifecycle, they can anticipate what is coming next and plan accordingly.

5. Breaks down silos between the teams -The SPDC phases promote full-swing communication between the development teams by tying them together with a process that demands collaboration.

6. A clearer view of roles and responsibilities - Each step of the SPDC has a clearly defined purpose.

   Each team member is aware of their role in the software-development life cycle.

How to create a robust Software Product Development Process

While product development tools can be helpful in managing process arrangements, there are other essential tips.

Jay Garcia, the managing partner of Modus Create, shares his practical advice via Forbes about how to create a solid product-development process. While the most powerful applications can be used quickly, they require much more effort and time to make. Lack of alignment among the critical product development stakeholders is often the most significant failure factor.

These strategies will help you succeed in the software product development process.

1. Take your time getting ahead. Take your time to assess potential vulnerabilities and risks. Save time and resources developing issues relevant to your mission.

2. "Get everyone on the one page": Sometimes developers like one widget but a finance or HR professionals prefer another.

   It is better to satisfy all stakeholders.

3. Learn more about your users by paying enough attention to prototype testing.

These steps are crucial to product development success. These steps also apply at every stage of the software product development cycle.

Before you start the Product Development Process

Lets first look at the requirements for product development before we get into how to create one. Before you start the product creation process, it is possible to save time and effort by considering the following factors.

1. Is there a market for the product?

Is the product that you are considering covering a real need? Your potential market size will be determined by the importance and frequency of the condition.

If your idea is original, there may be no demand for the product. You will need to promote the product to the market.

2. Can you make it?

While anything can be made or modified from a photograph using Photoshop, engineering only sometimes allows for the same creativity.

Is this product idea technically feasible? Is there a manufacturing facility that can produce this product?

3. How does the product reach its users?

Are your customers located in the exact location? Are there any means of transportation and delivery to the product idea? Or will you need to think up new distribution partners?

The existence of e-commerce platforms and logistics solutions makes this step much more straightforward, allowing you to sell and ship virtually anywhere in the world.

4. Which competition will it face?

Will the product launch be a me-too product that addresses an existing market? If so, you will need a stronger value proposition and intensive customer acquisition efforts.

Will it be unique and have low competition? If so, you will need to focus on how your product differs from the rest.

Sometimes it is better to have existing competitors because they show that there is a market.

5. Are you able to afford the necessary financial resources?

It is an investment to develop a product. It may need financial backing depending on its technical features and competitive positioning.

Will you be able to survive the first sale? Are you going to need financing? How ambitious you are will depend on your financial resources.

Also Read : Why Collaboration Is Key in Software Product Development

Stages of SPDC - Check the phases of the Software Product Development Cycle

Creating a new product is called "new product development." Agile software development principles can also be very beneficial for NPD.

The product development process varies by industry. However, it can be broken down into seven stages: research, planning, and prototyping.

To bring your product idea to market, use the following development framework.

1. Idea generation

Many entrepreneurs need help to get past the initial stage of creativity and brainstorming. They wait for the right moment to create the product that will sell.

Although it can be exciting to create something entirely new, the most creative ideas come from improving upon an existing product.

The SCAMPER model allows you to quickly develop product ideas, asking questions about products that are already in use.

Each letter is a prompt

1. Substitute (e.g., faux fur for fur)

2. Combination (e.g., phone case and battery pack)

3. Modify (e.g., an electric toothbrush with a sleeker look)

4. You can put it to another use, such as memory foam dog beds.

5. Eliminate (e.g., get rid of the middleman who sells sunglasses and passes on the savings to consumers).

6. Reverse/Rearrange (e.g., a duffle bag that wont wrinkle your suits).

These prompts can help you think of new ways to improve existing ideas or adapt them to a new audience or problem.

To better understand the market, it can be helpful to use the insights of a business analyst.

Here are some tips for idea generation

There are many ways to create a product idea. The process can be time-consuming as you try to juggle ideas, market feedback, and user input.

You can better describe the product concept by taking notes during the process.

Now, describe the core functionality and the user requirements it meets. Finally, tell us who it is meant for. The concept should be summarized in a few words.

If these lines can explain the idea to your grandma, then you have succeeded in this step.

1. Brainstorming: An excellent way to get ideas is to have a structured brainstorming session. Keep your mind open and take notes throughout the session.

2. Be pitch-proof: Dont be afraid to pitch your idea. You will be able to build your pitch and position your product.

We have compiled a list of resources to help you find your inspiration, including online marketplaces and product descriptions.

2. Market Research

You may be tempted to jump from production with your product idea, but this can lead to a costly mistake if your thesis needs to be validated first.

You can be sure that your product validation is valid and that people will buy it. It also ensures you save time and money on ideas that dont work.

You can validate your product ideas in many ways, including:

1. Online forums allow you to share your thoughts with your target audience.

2. To get feedback, send an online survey

3. Start a crowdfunding campaign

4. To get feedback, test marketing.

5. Google Trends is an excellent tool for researching market demand

6. Launching a product launch plan to gauge interest via pre-orders or email opt-ins

7. Reddit forums: Ask for feedback

It doesnt matter how you go about validating your ideas; it is crucial to gather feedback from an extensive and impartial audience on whether they would purchase your product.

Dont overvalue input from people who would "definitely buy" your product if it were created. Until money changes hands, you cannot count someone as a customer. Avoid asking your friends and family for their advice (unless they have previous experience).

A feasibility study or an assessment of the viability of your idea may be helpful.

Competitive analysis is a necessary part of validation research. There are likely to be competitors in the same space as your niche if you have the potential to capture market share.

Visit your competitors websites, sign up for their email list, and you will be able to learn how they attract customers.

It is also essential to ask your potential customers about their experiences with your competitors.

You can use the information you gather from market research and product validation to determine the demand for your product and the level of competition before you begin planning.

Research is an essential part of product development. Remember it!

Here are some tips for market research

Open data makes market research very easy. Open data is available from many government agencies. By extrapolating or cross-referencing market numbers, you can use existing data sources to create a quantitative market view for your product.

As long as your hypotheses and assumptions are credible, it doesnt have to be exact.

1. Online research: A service such as Statista can also provide market statistics. You can also search Google for more information.

   Most market research can also be done online.

2. Change: The world is constantly changing. You may have a valid reason to build a market hypothesis.

   This will change your market size projections and reveal interesting market data about your product.

3. Plan

Product development can quickly become complex, so it is essential to take time to plan before building your prototype.

It can be helpful to have a clear product roadmap at this stage.

Its easy for people to lose sight of the end goal when they approach manufacturers or begin looking for materials.

A product design sketch is the best way to start planning. It is essential to be as precise as possible and include labels that explain the functions and features.

A professional drawing is unnecessary as you will not submit the product to a manufacturer. If you need to figure out if your pictures will convey the products meaning, you can find illustrators on UpWork or Minty.

Use your diagram to list all the components and materials you will need to bring your product to life. This list can include only some possible details.

However, it should help you start planning the products.

For example, this list could accompany a sketch of a purse design.

1. Zippers, large and small

2. Clasps in silver;

3. Leather straps

4. Protection pouch;

5. Embossed label

6. Interior wallet.

You should consider the components and the category or retail price your product will be sold in. Is the product intended to be used for special occasions or everyday use? Is it made from premium materials? Are they environmentally friendly? These are essential questions to ask during the planning phase.

They will guide you not only through your product development but also your brand positioning, marketing strategy, and marketing strategy.

Before you move on to the sourcing or costing stages, you must consider packaging, labels, and overall quality. These aspects will impact how you market your product, so consider them during the planning phase.

A clear product roadmap will help you move forward toward your goal of releasing the product to the world.

4. Prototyping

Prototyping is a phase of product development that creates a prototype product for mass production.

You will need more than one go to create your final product. Prototyping involves trying out different product versions until you are satisfied with the result.

It is essential to set a minimum viable product as a benchmark.

The type of product you are creating also affects how prototyping works. Products you can design yourself are the most affordable and accessible to prototype, including some food recipes and cosmetic products.

If you have the skills and knowledge to do it yourself, this can be extended to fashion, pottery, design, or other verticals.

Entrepreneurs will often work with a third party to prototype their products. This is usually done with the help of a local seamstress (for clothes and accessories), a cobbler for shoes, or a pattern maker (for clothes).

You can usually find these services online by searching for local services within the industry.

Many large cities have art, fashion, and design schools that offer training in these skills. These college or university administrators can often grant you access to their internal job boards, where you can submit a request to have prototyping assistance.

To make prototypes of objects such as toys, household accessories, or electronics, you need a 3D rendering. UpWork and Freelancer allow engineers or artists trained in computer-aided drafting (CAD).

For founders who wish to create 3D models, many user-friendly online tools like Tinkercad and SketchUp exist.

Molds were required for every part of a 3D model to be made. Molds can be expensive and require setup fees for tools and die, which are used to shape and cut pieces of plastic.

3D printing has made it possible to turn designs into physical samples with much less cost and a faster turnaround.

You should also test a minimum viable product (MVP) at this stage. An MVP is a product version that has just enough functionality to be used by early customers.

This helps you validate your product idea early in the product development process. It is also an excellent way for product managers to get quick feedback from users to iterate on the product and make incremental improvements.

Startups distribute the MVP to customers early on and then conduct experiments to gauge interest and test price sensitivity and messaging.

This initiates the feedback process, where customers can offer suggestions and ideas. This allows you to create more value for your target market by creating iterations of your product.

Here are some tips for prototyping

While it is ideal to be involved in the construction of the prototype, in some cases, machinery or materials that are required to create a physical prototype may be limited.

In these cases, software outsourcing services will be necessary. You will need to make exact technical specifications for your product.

1. You should make it as attractive and photogenic as possible: Even though you might not have designers working on your product, you should still try to make the prototype look as appealing as possible.

   This prototype begins a long process and will serve as a foundation for all future steps.

2. It is essential to let others test it. It is important that others also try it as they may have different underlying knowledge than you.

   Information is abundant in spontaneous reactions.

5. Sourcing

Once you are satisfied with your product prototype, it is time to begin gathering materials and securing partners for production.

This is also known as building your supply network. It refers to the suppliers, activities, and resources required to create a product for sale. Project management is essential during this stage of product creation.

This phase will focus primarily on finding suppliers or manufacturers, but you might also consider shipping and storage.

The theme of Shoe Dog, a memoir written by Phil Knight, founder of Nike, is the importance of diversifying your supply chains.

You can compare the costs by finding multiple suppliers for different materials and potential manufacturers. This also allows you to have a backup plan in case one of your suppliers or manufacturers fails. It is essential to have multiple options to protect your business over the long term.

There are many resources online, and offline that can help you find suppliers. Although it might seem outdated, many business owners attend trade fairs dedicated to sourcing.

Magic in Las Vegas offers the chance to simultaneously meet hundreds and even thousands of vendors. It allows you to touch, see, and discuss materials with them. This can help you to build personal relationships that will be useful when you are trying to negotiate prices.

You will undoubtedly come across the decision to either produce your product locally or abroad during the sourcing phase.

Its a brilliant idea to compare both options as each has its benefits and drawbacks.

Alibaba is the best sourcing platform for overseas production. Alibaba is a marketplace that lists Chinese factories and suppliers.

Here you can search listings for raw materials or finished goods. You can use Alibaba to search for similar products and contact the factory to inquire if they can make your design.

6. Costing

Once all the research, planning, prototyping, and sourcing have been completed, you will better know how much it will cost to make your product.

Costing is a process that analyzes your business and determines the cost of producing your product.

Start by creating a spreadsheet that includes each additional cost as a line item. It would help if you consisted of all your raw materials, factory setup, manufacturing, and shipping costs.

You should also include shipping and import fees and any duties you may need to pay to get the final product to the customer. These fees can significantly affect your COGS depending on where the product is produced.

You can add different columns to compare the cost of varying line items if you have received multiple quotes from other manufacturers or materials during the sourcing phase.

You can also create a second spreadsheet to compare the production in your area with overseas production.

Once you know your COGS total, you can create a pricing strategy and subtract COGS from the price to calculate each units gross margin or profit.

7. Commercialization

Now you have a successful and profitable product ready to go out into the world. This is the last step of this process.

A product development team will then hand the reins to marketing for product launch.

Dont worry if you need more money for expensive ads. These tactics can help you still have a successful go-to-market strategy.

1. Sending emails about product launches to your subscribers

2. Collaboration with influencers in an affiliate marketing campaign

3. Get your product featured in gift guides

4. Allow Instagram Shopping

5. Chat marketing campaigns

6. Review early customers to get their feedback

Software development lifecycle (SDLC): Benefits

SDLC provides a clear view of the system, resources, timeline, and goals. SDLC allows for the best level of documentation and management control.

Software developers know what they should do and why. Both parties agree on the purpose and create a plan to reach it. Everyone knows what the costs and available resources are.

Below are some benefits of SDLC:

1. It is simple to use the SDLC to determine the cost and growth of the developed system.

2. SDLC improves the management and monitoring of large or complex projects.

3. SDLC is a series of detailed and thorough steps.

4. Design reviews are used to verify the quality and reliability of the software solutions.

5. SDLC is a comprehensive documentation system.

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End

You can adapt the software product development cycle to suit your projects needs. This framework is designed to equip all team members involved in technical and nontechnical activities with the tools they need to produce high-quality code that meets the projects goals.

Remember, however, that regardless of how meticulously you follow the steps to a successful software product development lifecycle, it is up to talented engineers and developers to execute the entire process flawlessly.

References

1. 🔗 Google scholar
2. 🔗 Wikipedia
3. 🔗 NyTimes