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1. Something produced by human or mechanical effort or by a natural process, as: a. An item that is made or refined and marketed: farm products; soaps, detergents, and similar products; travel products such as vacation trips. b. Such items considered as a group: sold a lot of product in May.
new-product-development-process 1. NEW PRODUCT AND NEWPRODUCT DEVELOPMENT PROCESS 2. What is a new product ?â¢ A product that opens an entirely new marketâ¢ A product that adopts or replaces an existing productâ¢ A product that significantly broadens the market for an existing productâ¢ An old product introduced in a new marketâ¢ An old product packaged in a different wayâ¢ An old product marketed in a different way 3.