CareerCup

With this question interviewer is looking to understand what all phases of product development you have got exposure to in your career.
Based on your response he/she can judge you on how well would you be able to plan & estimate for the project he/she is hiring for. More thorough the process is lesser are the change of project failing it goals.
these days many software/IT firms deliver new software products in 6 months.
- feature wish list from product / solution management
- business impact & approvals
- high level design, prototyping & feasibility analysis
- available budget & capacity planning
- committing on delivery features
- preparing specifications & architecture
- UX Design / Mockups
- Test cases & test cycle plans
- task breakdowns & implementation
- feature complete / code freeze & unit testing
- integration, interoperability & solution testing
- Documentation
- change management (for scope changes / new requirements etc.)
- approvals for compliance to various product standards
- Release noting & software delivery

The time to market for an IT hardware product is generally higher as it involves few prototypes refinements & various compliance testings according to markets its planning to address.
- Requirements & Technical Specifications
- Industrial Design
- Mechanical & Electrical Design
- Manufacturing
- Yield check
- Performance, Reliability Testing
- Compliance Testing & Certifications
- Release to Market

I think through this question he wants to know what are different aspects you can think while delivering a system. Few of them are like:
1. Code implementation.
2. System requirement & procurement.
3. Monitor & Troubleshooting
4. Performance metrics.
5. CI\CD
6. Ops team engagement.
7. Milestone chart.

1.There should be CRM that will take care of the product information and the customer 
     who have ordered it.
 2. We should have a system that will take care of the time it will take to reach from the source(the  dealer) to the destination (the customer).
  3. The dealer should be informed about the product delivery.
  4. etc.

In any project, the first thing is do understand the requirements in detail and try to come up with a high level estimation based on team's velocity. Once the requirements are clear, come up with a detailed level plan which consists of all integrations including system testing, regression testing, acceptance testing and project plan. Estimate the stories and try to retrofit it to determine the number of sprints required. Also clearly call out all the dependencies, assumptions, key decisions and riks. Come up with an implementation plan with sprints dedicated for requirements, coding, testing and soft and actual launch.