Successful New Product & Service Development & Innovation Strategies

Schulich Executive Learning Centre

How long?

  • 3 days
  • in person

Schulich Executive Learning Centre

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Who should attend

This program will benefit anyone in B2B or B2C sectors who seeks to differentiate their organization from the competition through new product and service development and innovation, including:

Marketing Directors/ Managers, Sales Directors/Managers, Product Managers, Category Managers, Design engineers, Entrepreneurs

Benefit from coaching and mentoring by the instructor in developing your own new product innovation plans, and sales & marketing strategies.

About the course

Create winning innovative products and services effectively, efficiently, repeatedly and profitably

This seminar is designed to acquaint participants with the key factors that can mean the difference between prospering and failing in new product development and innovation. It will give them knowledge of the practical steps necessary for success, and the skills to immediately apply the latest techniques and processes in their organization. They will leave with the ability to effectively bring innovative new products and services to market on a regular basis.

Top Take-Aways

  • Understand the four types of New Product Development and the optimum processes for each
  • Define your innovation strategy and product roadmap to focus on the right markets, technologies and product types
  • Link product innovation to corporate strategy and culture
  • Effective ideation techniques and product development processes, tools and templates
  • Understand integrated portfolio management and effective resource allocation and project success
  • Rank and prioritize projects – make the right investment decisions and improve speed to market
  • Leverage and manage disruptive technologies

Content

Developing a New Product

  • What is a New Product?
  • What is new product development & why is it important?
  • Four types of NPD
  • Strategic vs Tactical products
  • Basic Framework for NPD

New Product Strategy

  • The role of NPD Strategy within the Business Strategy
  • Creating a NP development culture
  • Product centric versus customer centric approach
  • Blue & Red ocean strategies
  • Strategic Arenas
  • What innovative organizations all have in Common

Creating Innovative New Products and Services

  • Innovation strategy
  • Design Thinking
  • Determining design criteria
  • Productive Ideation sessions
  • Assembling the right creative team
  • Understanding customer segmentation in NPD
  • Factors determining success or failure

Integrated Portfolio Management

  • The Portfolio Review
  • The Stage Gate System project evaluation process
  • The Product Roadmap
  • Innovation and the product life cycle
  • The NPD Scorecard- picking the winners
  • Allocating Resources effectively and efficiently.
  • NPD Goals and Objectives

Taking the New Product or Service to Market

  • Commercialization- getting it right the first time
  • Maximizing Sales and profitability- the Innovation ROI
  • Selecting the best Distribution Channels and Customers to ensure a successful launch
  • Measuring the success of the new innovative product /service

Tactical New Product Development

  • Alteration &Customization
  • Tactical NPD Strategy
  • Tactical NPD Processes
  • Creating opportunity where none exists

Strategic Sales Planning

  • The role of the sales function in NP development
  • Strategic vs. Tactical sales – SWOT
  • Maximizing Distribution Channels
  • Forecasting sales of new products (market potential, sales potential, sales forecast)
  • Strategic NPD Sales Plans

Experts

Gerry Lubanszky

Biography Gerry has more than 30 years’ experience in sales, marketing and management of the consumer packaged goods and durable goods industry in Canada. He is currently vice-president of sales and business development for Garant GP, Canada’s largest and most successful manufacturer of manual la...

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Successful New Product & Service Development & Innovation Strategies at Schulich Executive Learning Centre

From  3250 CAD$2,462

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Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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