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New Product Development - A Strategic Approach

Program Objectives:

By the end of the program, participants will be able to:

  • Examine all aspects of the New Product Development (NPD) process, its importance, and factors influencing stages involved in successful NPD.
  • Identify a variety of launch success factors that will improve launch process planning and execution.
  • Suggest ways for companies to avoid launch ruts by adopting techniques that appeal to today's consumers.
  • Understand the importance of using media vehicles to ignite the product launch process and increase the viability of the new product.
  • Prepare product launch checklists and budgets to overcome roadblocks and smoothen the launch process.
  • This Program is designed for:

    All staff concerned with their organization's growth and profitability. This could include Business Development Managers; Marketing; Sales Product and Brand Managers; R & D Managers and Personnel; Managing Directors and Directors over a wide range of business areas; and everyone involved in Strategy Planning.

    Program Outline:

    New Product Development New Product Launch: Setting Up
    the Stage
  • NPD Definitions and Challenges
  • NPD Objectives and Critical Success
    Factors
  • NPD Reasons for Success and Failures
  • NPD as a Key Marketing Strategy
  • Assessing Commercial Viability
  • Things to Consider Prior to Product Launch
  • The Launch Hurdles
  • Planning Your Media Schedule and Costs
  • Selecting the Launch Team
  • Preparing the Product Launch Checklist and
    Toolkits
  • Product Launch Strategies
  • The New Product Development
    Process
    New Product Launch: Full
    Engagement Launch
  • Idea Generation and Screening
  • Concept Development and Testing
  • Marketing Strategy
  • Business Analysis
  • Product Development
  • Test Marketing
  • Commercialization
  • Preparing the Press Kit Checklist
  • Product Launch Marketing Budget Toolkit
  • Preparing the Press Release
  • The Product Launch Plan
  • Product Overview Document
  • SWOT Analysis, Graphic Chart, and the
    Creative Plan
  • The Role of the Advertising Agency
  • The Product Life Cycle and New
    Product Launch
    The NPL Workshop: Putting It All
    Together (Group Together)
  • Life Cycle Stages
  • Product Life Cycle Strategies
  • The Phase-Gate Process: Structuring the NPL
  • The Boston Consulting Group Growth Matrix
  • The Product Market Expansion Grid (A Portfolio
    Planning tool)
  • Designing and Conducting a New
    Product Launch
  • A Challenging Team Game: Presenting
    the Launch Plan
  • Pre-requisites

    None:
    Duration : 4 days

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