New Product Development Template Excel

Many projects demand some kind of easy and custom base software before launching new products. We have an Excel-Based Template for new product development.

Continuously developing new products is the breathing line for many industries such as the fashion and smartphone industry. Every previous product has a very short life cycle and customers are constantly looking for the addition of something new, innovative, and creative product.

For new product development, you require an AGILE product planning template also.

  1. From Project Initiating to Closure Stage
  2. Expense and budgeting process
  3. HR & Customer Communication
  4. Complete record and Tracking template
  5. Project Task Management & Tracking Sheet

The New Product Development Template in Excel is a tool that assists organizations in managing and tracking the various stages and activities involved in developing a new product. It is designed to provide a structured framework for planning, organizing, and monitoring the product development process.

The template typically includes multiple worksheets or tabs that cover different aspects of the product development process. Here are some common elements you might find in a New Product Development Template:

  1. Project Overview: This worksheet provides a summary of the project, including key dates, project objectives, and stakeholders involved.
  2. Idea Generation: This section focuses on capturing and evaluating new product ideas. It may include fields to describe the idea, assess its feasibility, and assign a priority or ranking.
  3. Concept Development: This tab involves shaping the selected ideas into viable product concepts. It may include sections to outline the product’s features, benefits, target market, and estimated costs.
  4. Design and Development: This worksheet focuses on the technical aspects of product development, such as engineering, prototyping, and testing. It may include fields to track design iterations, milestones, and resource allocation.
  5. Manufacturing and Production: This section covers the activities related to manufacturing the product at scale. It may include fields for tracking suppliers, production timelines, and quality control processes.
  6. Marketing and Launch: This tab includes the marketing strategy and activities for promoting the new product. It may cover elements like pricing, distribution channels, advertising campaigns, and launch plans.
  7. Financial Analysis: This worksheet involves financial projections and analysis for the new product. It may include fields for estimating sales volumes, revenue, costs, and profitability.
  8. Project Timeline: This tab provides a visual representation of the project timeline, including key milestones and deadlines.
  9. Resource Allocation: This section helps track and allocate resources required for the product development process. It may include fields for personnel, equipment, and budget allocation.
  10. Risk Management: This tab helps identify and manage potential risks and uncertainties throughout the product development cycle. It may include fields for risk assessment, mitigation strategies, and contingency plans.

The New Product Development Template in Excel provides a structured and organized approach to developing new products, enabling teams to effectively plan, track progress, and collaborate on the various stages of the process.

So, the new product development isn’t one day and a single-step process. It’s a multiple-step process that requires proper research and several market analyses. By definition, new product development is the process of bringing the product idea to market.

New Product Development Template Excel

There are several steps of the product development process and different new product development templates are useful for this purpose. Most of the templates are developed using MS Excel and are very easy to use.

(Key Features) New Product Development Template:

How many stages are involved in the process of new product development varies from industry to industry. However, a comprehensive product development process includes the following steps:

Related Template: Project Plan Spreadsheet

  1. Idea Generation: This stage focuses on creating a pool of ideas by brainstorming sessions.
  2. Idea Screening: This stage focuses on screening the most feasible ideas from the pool of ideas generated during the first stage.
  3. Concept Development and Testing: The 3rd stage is to develop the concept design and prototype of the idea product and testing it.
  4. Business Strategy Development: Market study for the need for product and development of marketing and other business strategies.
  5. Product Development: The product prototype is created.
  6. Market Testing: Introduce the prototype of the new product to the market for research and customer feedback.
  7. Technical Implementation: This stage focuses on quality and operations management.
  8. Commercialization: The final strategies are made for the distribution and advertisement of the new product.
  9. Introduction: In this stage, the product is launched into the market and the distribution of the product is started.

Examples of  New Product RoadMap Template:

There are different types of new product development templates in Excel. However, the most basic one focuses on the Gantt chart of activities for each stage of product development. It has a column enlisting the stages of the product development process. The other columns contain a calendar to map activities for each stage in the form of a colored bar.

Excel-Based Scheduling & Planning

The color bar can show the planned duration and schedule of each activity. A different color can be used to mark the actual status of the activity on the sample chart.

A simple but very effective new product development template includes the following activities for different stages of product development.

SWOT analysis & Financial Modeling

The idea generation stage works on SWOT analysis and brainstorming sessions to generate new product ideas. So, customer analysis, market analysis, competitive analysis, technical feasibility, and final idea selection tasks are major portions of the idea screening stage.

The concept development stage works on feature specifications, rapid prototyping, and concept testing approaches. While the business analysis includes pricing analysis and sales forecasting. Similarly, beta production run, internal testing, focus group interviews, and initial production run for the market tests are key activities of product development and test marketing phase.

  1. Google Sheet Project Management 

Further, quality and operations systems are developed for product technical implementation along with supplier and logistics management.

Finally, the commercialization of the product via distributor negotiations and advertisements are done and the product is launched to the market.

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