Creating a Successful Product Product development is the process of creating successful products to meet consumer needs. It involves research, ideation, prototyping, testing, and marketing and product launch. A successful product should be useful, easy to use, cost-effective, and have a unique selling point. The first step in product development is to identify what the product should do and who the target audience is. Research should be conducted to discover unmet consumer needs, to understand the competition and the current market trends, and to gather data for product planning. The next step is to brainstorm ideas and develop a concept for the product. Turning an idea into a prototype is an important step in the development process.