As the market is a permanent and organized way of demand’s getting in touch with supply and a mechanism regulating the relationship between sellers and buyers in exchange terms, it is very important to find the right product in the market at the right time and in the hands of genuine buyers. It is therefore necessary to understand the process of developing and introducing a new product on the market explaining the product development process from the idea itself to its entry into the market. It is important to conduct a market research process that is considered an organized, planned and creative form of business marketing activity, which starts with a certain problem to be solved. Based on the results of the research, business entities make further decisions in their business and take further action to solve the problem, which ultimately facilitates the process of developing a new product. By using various research methods it is possible to make a segmentation of the market for the understanding of the market where we want to sell our products. Businesses, as buyers want new products, and the competition do everything it can to supply those businesses as soon as possible, continually work to perfect their progress in order to always be better than the competition, so they work through the development and introduction of a new product on the market. Most of this will be covered in this graduate paper.