This document provides an overview of product and new product development. It discusses key concepts such as: - The marketing mix and how product positioning and market segmentation are used. - What constitutes a product and the different types of products. - The risks involved with new product development and the typical 8-stage process. - Models for managing new product development like the stage-gate model. - The commercialization process and importance of timing a product launch. - The product life cycle concept and how it varies across different types of products.