A product development specialist follows trends in the field they are working in and creates business plans from the findings for the launch of products in development. Other major duties include overseeing a product's overall development; a specialist works with everyone involved on a project setting deadlines and providing clear guidelines for the whole production team, as stated by PayScale.com. The job requires excellent research skills as a product development specialist also compiles competitive and comparative studies, and provides estimates of costs and financial predictions for completing a project.
The job requires a high degree of creativity, the ability to multi task efficiently, strong interpersonal and leadership skills, quick reactions and troubleshooting abilities as well as an insight into the company's vision, branding and marketing goals, notes Salary.com.
Companies hire specialists in product development to work full time developing new products that reflect the organizations core goals while using innovative techniques to attract new customers.
Strong management skills are needed for the job as well; product development requires that a specialist communicate the vision and ideas behind a new product to each member of a production team, including engineers, designers, the marketing and accounting departments, senior staff, the operations team and advertising agencies.