This document discusses product development and improvements. It defines product development as the creation of products with new or modified characteristics that provide additional benefits to customers. This may involve changing existing products or developing new products to meet customer needs. The document also defines a product as something created to satisfy a want or need, with both tangible and intangible attributes that a seller offers a buyer. It encourages thinking of a product that could be improved, discussing what needs improvement and designing an improved version, in order to understand how to better meet customer wants and needs through product enhancements.