Market Research and Product Development

In an organization, product development is concerned with the development of new ideas and innovations that lead to new products New product development is essential for the survival of many companies in the Hi-Tec sector, as well as other sectors. The percentage of sales of successful business organizations tied to the successful Introduction of new products and services is high. However, the failure rate of new products development projects is also high and therefore there is a need for a methodology based on a well-designed process as well as tools and techniques to manage New Product Development (NPD) projects. Since most companies develop new products, it is important to you as a manager to be familiar and understand the basic concepts and terminology of NPD projects.

This course will give the course participants holistic view of the new product development arena and will help to gain specific knowledge in how to select, plan, monitor and control a new product development project, using the proper tools and techniques.

Duration

10 Days

Who Should Attend

• Research Associates
• Marketing Staff
• Sales force

1. Introduction to product and service innovation
2. Opportunity identification and identifying customer needs
3. Concept generation & product specification
4. Concept selection & testing
5. Product architecture & prototyping
6. Product and service design
7. Product Testing

• Product use and testing

8. Product/Service Launch

• Strategic launch planning
• Strategic plan implementation

9. Market Research and Testing

• Marketing plan variables
• Marketing research elements

10- Launch Management

• Intellectual property
• Commercialization

11  Group Dynamics- presentations

12  Product development economics
13 “Best practices” in managing new products and service