product development
nounUK /ˈprɒdʌkt dɪˈvɛləpmənt/
US /ˈprɑːdʌkt dɪˈvɛləpmənt/
The work of making a new thing to sell or use.
The company spent a year on product development before launching its new toy.
RELATED WORDS
OTHER MEANINGS
2. The process of improving an existing item so it works better.
Product development helped make the phone battery last longer.
3. A department or team in a company that creates new items.
She works in product development and tests new ideas.
4. The steps from a first idea to a finished item for customers.
Product development includes planning, building, and testing.