There are many different types of product development, however, some popular ones include incremental product development, platform product development, and breakthrough product development.
Incremental product development involves making small and gradual improvements to an existing product or adding new features to enhance its performance, functionality, or appearance. Platform product development focuses on creating a foundation that can support multiple related products or variations. It involves designing a common technology stack that can be adapted for various applications. Breakthrough product development involves creating new products that disrupt existing markets or create entirely new ones. It typically requires significant research, development, and investment.