as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
describe the phases of the product development cycle.
user
the product development cycle consists of four main phases: 1) ideation: generating ideas and concepts for the product; 2) design and prototyping: developing a blueprint for the finished product; 3) testing and validation: validating the product with customers and stakeholders; and 4) production and delivery: delivering the finished product to the consumer.
assistant