A holistic approach to Embedded System Design towards product development is based on sound knowledge, skill and practice of variety of computer languages, software tools and hardware platforms. The paper investigates the applicability of the Model based Hardware in the Loop (HIL) design approach in exploring suitable algorithm and then the realization of the algorithm on a variety of hardware platforms covering Microcontroller, FPGA and System On Programmable Chip (SoPC). The case study taken up is a simple miniature DC motor closed loop speed control system in laboratory environment.