New products and services are the lifeblood of all businesses. Investing in their development isn’t an optional extra – it is crucial to business growth and profitability.But embarking on the development process is risky. It needs considerable planning and organisation.This guide will outline the key stages in the lifecycle of products and services so you know when the time is right for your business to start the development process.
It will explain how a planned and phased development process will help you make the wisest investment and budgeting decisions. It will also advise you on how best to create a development team and manage a project.
Learning Outcomes / Key Takeaways
In this course you will be able to:
- Capture new ideas.
- Screen out those ideas not worth taking forward.
- Consider specifications such as technical feasibility and market potential.
- Seek new markets.
- Develop The Concept.
- Position And Launch.
This Course is suitable for C-Level Executives, Middle Level Managers, Senior Level Managers, Graduate Students and Entrepreneurs.
Module 1: Introduction and the Strategic Elements of Product Development
- Key step in developing a new product or service
- Product innovation
- Idea Generation
- Technology transfer
- Relations between science and technology
Module 2: The New Products Process
- Opportunity identification and selection
- Identifying customer needs
- Setting Priorities for Development
- Product Development Case Discussion
- Good-based product
- Service-based product
Module 3: Sales Forecasting and Financial Analysis
- Project feasibilities
- Risk in forecasting
- Financial analysis
Module 4: Product Design
- Concept generation & product specification
- Product architecture
- Design for environment
- Design for manufacturing
Module 5: Development Team Management and Product Launch
- Select NPD team
- Reward systems for engineers and scientists
- Strategies associated with new product launches
- Implementation plan.
- Market testing
- Reducing Lead Times
Module 6: Post-Launch Monitoring
- Organizing the NPD Effort
- Expert advice
- Learning and development
- Protection of people and assets
- Challenges to New Products & Services
- Assessment, Review, and Independent Reflection
Each chapter focuses on clear objectives and skill demonstrations that can be easily linked to real life instances.
What does the course include:
- Course Notes
- Accelerated Adult Learning Techniques
- Certificate of Completion
- Manuals and Workbooks
Participants must have attended the sessions at least 80% in order to receive a CERTIFICATE from Bangkok School of Management.
BSM Facilitators are experienced practitioners with a robust mix of practical and academic expertise who teach the art and science of the subject.