Product Management - generic Product Lifecycle

Planning to build a B2B or B2C Product?
This is how its lifecycle would look like this:
  1. Understand:
    1. Users problems/needs
    2. Business wants/expectations
    3. Market/business/design/technology trends
  2. Prirotize the user/business/market needs
  3. Ideate product(s)/feature(s) to solve/satiate for the highest-priority user/business/market needs
  4. Validate your product's idea by conducting/checking:
    1. UX/user/usability research (user interviews)
    2. Market research
    3. Business validation
    4. Tech feasibility
  5. Detail/document product's strategy (objectives & benefits)
  6. Finalize product's scope (MVP & non-MVP features)
  7. Design the following:
    1. User journey/flow-charts covering all (un)happy user scenarios (emotions & contexts)
    2. IA (information architecture) of the content
    3. IxD (interaction design) of the individual features
    4. Wires (& a dummy prototype if needed for UX/user/usability research)
  8. Document/detail a PRD (product requirement document) collating the product's strategy, scope, journey, wires, KPIs (key performance indicators) of each individual product feature & of the product-as-a-whole, funnels, pre-launch activities, post-launch activities, UX guidelines (if anything specific), etc.
  9. Present the PRD to stakeholders (business/leadership/investors) and get a written sign-off
  10. Following steps are now executed in parallel:
    1. Groom (also covering timelines & NFRs) the PRD with engineering team - Product now goes into development. Track the agile-coding progress via daily standups & regular scrum sessions
    2. Get VD (visual design) designed & get their HTMLs done
    3. Get test cases written by QA/C (quality assurance/check) team and approve the same
    4. Write UAT (user acceptance testing) test cases
  11. [optional] Demo the QC'd product to stakeholders
  12. Conduct UAT. Prioritize the bugs found in the UAT and get them fixed. Re-test the same once they are fixed
  13. Finish pre-launch activities (like - Marketing, updating the customer learning manuals, readying the support/care teams) & Launch the product
  14. Monitor the KPIs & funnels, conduct usability tests, track user feedbacks (online / offline) and improve the product as per.
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