Product development is the end-to-end process of delivering a new product or improving an existing one. Product development aims to develop, sustain, and improve a business's market share by addressing consumer demand. Product development is a creative and yet scientific process.

A Product goes through four primary stages - introduction, growth, maturity and decline. If one breaks down these four stages further, there are seven stages - conceive, plan, develop, iterate, Launch, steady and maintain/kill. A clear product development roadmap considers the various stages that the product goes through and sets precedence for validated learning. At each stage of a product, start-ups and businesses face different sets of challenges. Various frameworks help start-ups and enterprises overcome these challenges.

The fuzzy Front-end (FFE) approach advocates using five elements of product development, and they are:

Identification of product definition: Define the problem, define the solution.

Idea Analysis: Put the idea through validation experiments, Such as sniff test, competitor analysis, market research and feasibility study.

Concept genesis: Put the learnings from the "Idea Analysis" step to work and develop a solid concept.

Prototyping: Develop wireframes, solidify core functional aspects, build mock-ups and adapt and deliver rapid prototyping.

Product Development: Build the product based on validations from the "prototyping" stage.