In the thesis the Failure Mode and Effects Analysis (FMEA) method and Quality Function Deployment (QFD) method have been used on a case of development of a new product by a Slovene company. The first method was used to identify failures and weaknesses of two similar competing products and to suggest solutions for the most important ones. The second method was implemented to determine what the general technical characteristics of the new product should be, their values and their importance in order to achieve the desirable level of customers' satisfaction. The combination of results of both methods allows for preferential consideration of the most important technical characteristics in the further development of the new product and the avoidance of the same or similar failures to those of the analysed competing products. The new product will in effect be founded on customers' requirements which will thus guarantee its better market success.