The MBP Guide to New Product Development
The Microenterprise Best Practices guide for new product development is designed for staff of financial institutions and non-governmental organisations interested in developing new products and services for their clients. The guide provides a systematic approach that organisations can follow to evaluate, design, test and launch a new product. It includes both technical guidance and practical exercises.
The actual time required for an organisation to follow the process outlined in this guide will depend on its specific circumstances, e.g., availability of time and money and the difference between the new product and current products. However, it generally takes 2 months for market research and design of a prototype and another 4-6 months for pilot testing. Worksheets and exercises are provided for all the phases and activities of the product development process. Institutions may not be able to work through them methodically but should devise a work plan and select the tools that are most needed.