GENERAL KNOWLEDGE

Detailed explanation-1: -Product planning is the process of identifying and creating a new product idea with all product-related requirements such as its features, price, promotion, distribution, etc.

Detailed explanation-2: -A product design process can be defined as a sequence of steps that are followed by a product team to develop a design solution. It’s a series of design tasks that follow a product from start to finish. From idea to the final product ready to be commercially available to the target user.

Detailed explanation-3: -Product development–also called new product management–is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services. Product development includes a product’s entire journey–from the initial idea to after its market release.

Detailed explanation-4: -The design of production systems involves defining the problems, objectives and outlining the alternative course of action (problem-solving), and the evaluation, choices among alternatives and detailed design of proposed production systems (decision-making).