Introduction to New Product Development
Developing and launching successful new products is a key marketing value driver. Successful innovation ensures that your products stay competitive and that growth opportunities are not missed. However extensive research indicates that failure rates in this area are high. Through contemporary examples and the application of a stimulating case study you will learn how to develop and implement a proven NPD process, together with managing the other key factors that increase success rates.
- Definitions, benefits and principles of good innovation management
- NPD process – what’s involved?
- Step 1: New product strategy
- Step 2: Idea generation and screening
- Step 3: Concept development and testing
- Step 4: Business analysis
- Step 5: Product development and testing
- Step 6: Commercialisation
Success factors in NPD; differentiated superior products, customer insight, sharp, stable and early product definition, brand planning, stage-gate process, cross-functional project teams and an innovative culture supported by senior management
Assessment of organisational performance and action planning to improve NPD in delegates own organisations
Who should attend
This workshop will be especially useful for managers and executives, irrespective of function, who are or expect to become involved in the development of new products (goods and services) and the innovation process within their organisation.