Product Development

By: A Staff Writer

Updated on: Sep 23, 2024

Entrepreneurs and small business owners perform and are accountable for several essential tasks. Here are their functions for Product Development. Of course, while they can delegate or outsource, the buck stops with them.

The following is the list of overall categories.

Strategic Planning and Vision
Finance and Accounting
Operations Management
Marketing and Sales
Product Development
Customer Service
Human Resources Management
Networking and Partnership Development
Technology and Innovation
Legal and Compliance
Risk Management
Personal Development

Now, let’s look at the tasks in the following category.

Product Development

• Identify customer needs
• Generate product ideas
• Create product prototypes
• Conduct product testing
• Gather user feedback
• Refine product features
• Plan product launches
• Monitor product performance
• Manage product lifecycle
• Innovate continuously

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