Planning and Developing New Products
28-10-2024 - 01-11-2024 | 3300 | Abu Dhabi |
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Today product development ranks among the most activities for organizations, Organizations that cannot offer products relevant to their customers quickly become obsolete. But where to start? How do organizations go about planning and developing products? A new product can take so many forms. It might or might not be sale. It might be a service, a thing, an idea, even an experience. In this course attendees explore what is commonly understood as product development before they set out on their own research into how products come into being whom, for what purpose and through what kinds of processes or methods.
· Understand the eight critical keys to success
· Define objectives and strategies for your new product development program
· Analyze from a financial perspective
· Bring innovation to market quickly using new product development insights
· Effectively handle product testing and launch issues
· Use market research to identify profitable new markets
· Successfully manage your team
Sales staff, managers, business owners
· How to generate ideas for new products
· Surveying your competition
· Determining if new products are in line with overall corporate strategy and with your current portfolio
· Conducting small-scale tests to eliminate unprofitable ideas
· Techniques of market testing
· Developing a market-driven business plan
· The team approach to managing new products
· Managing the product life cycle: the launching process…evaluating market performance results
Learning Objectives
Introduction—The New Product/Service Development Process
· Understand the Structure of the New Product/Service Development Process
· Know the Primary Reasons for New Product and Service Failure
· Understand the Concept of Increasing Costs, and Its Implications for the New Product/Service Development Process
· Know Who Should Be Making the Decisions at Each Step of the New Product/Service Development Process
· Understand the Relationship Between Revenues and the Level of Innovation
· Understand the Key Differences Between Developing Products and Services
· Understand the Key Differences Between Developing Business-to-Business and Consumer Produces/Services
· Know the Learning Objectives and Major Themes of This Training Program
Defining Your Charter
· Understand What a Charter Is, and the Role It Plays in the Product/Service Development Process
· Develop a Charter for Your Business Unit
Idea Generation
· Identify the Key Idea-Generation Techniques in Use Today
· Use These Techniques to Generate Potential New Product/Service and New Market Ideas That Fit Your Business Strategy
Post-Ideation Screens
· Develop Your Own Post-Ideation Screens
· Use These Post-Ideation Screens to Filter Potential New Product/Service and New Market Ideas
Market Research
Interim Screens
Business Analysis for New Products, Services, and Markets
Developing Highly Innovative Products, Services, and/or Entering Highly Innovative New Markets
Development
Testing
· Understand Why We Test Products/Services During Development
· Know How to Test Business-to-Business and Consumer New Products/Services
· Know If We Should Test a New Product/Service, and When Not to
Product/Service Launch
New-Market Entry
After the Launch
A variety of methodologies will be used during the course that includes:
· (30%) Based on Case Studies
· (30%) Techniques
· (30%) Role Play
· (10%) Concepts
· Pre-test and Post-test
· Variety of Learning Methods
· Lectures
· Case Studies and Self Questionaires
· Group Work
· Discussion
· Presentation
This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.
Daily Course Timings:
08:00 - 08:20 Morning Coffee / Tea
08:20 - 10:00 First Session
10:00 - 10:20 Coffee / Tea / Snacks
10:20 - 12:20 Second Session
12:20 - 13:30 Lunch Break & Prayer Break
13:30 - 15:00 Last Session