The process behind the creation of a new product. This covers the conception of the idea behind the product; development and testing of the product; and the product launch and commercialisation.
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New product development (NPD)
Related terms
Return on investment (ROI)/Return on capital employed (ROCE), Point of sale (POS), Adopter categories, Advertorial, K, Standard of care, Offensive marketing, Fax Preference Service (FPS), Supplier relationship management (SRM), Sensitivity analysis (pharmacoeconomics), Prescription Medicines Code of Practice Authority (PMCPA), Monopsony, Supply chain, Packaging, Congenital,