product development

US /ˈprɑː.dʌkt dɪˈvel.əp.mənt/
UK /ˈprɑː.dʌkt dɪˈvel.əp.mənt/
"product development" picture
1.

the process of creating and marketing new products or improving existing ones

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Our company invests heavily in product development to stay competitive.
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The team is currently focused on the next phase of product development.
:
new product developmentinnovationR&D
:
developmentdevelopdeveloperdevelopedproductproductionproductivity