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New Product And Service Development
New products and services are vital to a company's profitability. In this course, you will experience the various stages of new product development from idea generation to concept testing, and learn about factors that influence success and failure at each stage.
This course qualifies towards the following certificate(s):
- Sales Leadership
- Executive Development
- Marketing Management
Special Features
This course uses cases, videos, and team exercises to demonstrate the tools and processes that are used in developing new products.
Takeaways
Attending this course will enable you to:
- understand why consumers adopt some new products/services and not others
- generate ideas for new product/services
- prioritize projects and identify when resources are over-committed
- make better decisions when faced with trade-offs in product/service design
- construct sales forecasts from test market results
- save time, money and other scarce resources by screening out failures early in the process
- increase your chances of introducing successful new products and services
Course Content
- The importance of new product/service development
- Factors influencing success and failure: common mistakes in the development process, consumer adoption, disruptive technologies
- Popular tools for NPD planning: stage gates, aggregate project planning
- Idea generation: lead user and pure observation approaches, customer inquiry and usability testing
- Product design: successful design teams, optimizing designs for specific market segments, effective trade-off decisions
- Concept testing and forecasting
