This unique program will provide you with the frameworks, tools, techniques, and perspectives that will help you to more effectively develop and market new products. The course provides comprehensive coverage of major topics in developing and implementing a market-driven approach to innovation. Incorporating cutting-edge thinking and best practices in new product development, this program will help you to both create and modify your organization’s new product development process and position your firm to gain a strategic competitive advantage. It covers a wide spectrum of industries including business-to-business, consumer products, and services.
Topics cover four broad areas:
The strategic role of new products in your organization
Reviewing best practices in new product development across various industries
Incorporating best practices and cutting-edge frameworks to develop a market-driven new product development process
Implementing the new product development process
During this program, you will learn:
-- How to conduct a new product diagnostic audit and develop a new product strategy.
-- Best practices in new product development that separate the "best" firms from the "rest" in different industries.
-- How to develop a new product development process that incorporates the best practices and is based on cutting-edge frameworks and approaches.
-- How to adapt the new product development process for: different types of projects - lower risk short-term versus breakthrough projects, in-house versus outsourced projects, platform projects, different strategic decision situations: speed to market versus extensive development, proactive versus reactive strategies,building flexibility into the process.
-- How to implement the new product development process.
-- How to create new market space by identifying a new value curve that better meets customer needs.
-- How to identify new product opportunities using both "resource based" and "market based" approaches.
-- How to uncover "breakthrough" consumer needs and develop and test new product concepts that serve those needs.
-- How to create a value proposition for your new product and develop a positioning strategy.
-- How to use latest tools and techniques that will help you to design new product offerings that deliver customer value through differentiating benefits.
-- How to develop sales forecasts for your new products and services.
-- How to develop a launch plan.
-- How to build successful cross-functional teams for effective new product development.
-- Cutting-edge techniques and latest frameworks for effective new product development.
Who Should Attend
This course is appropriate for mid- to upper-level managers in any area involved in the development and management of new products. This may include functional areas such as new product development, marketing, research and development, business development, general management, design, engineering, operations, sales, strategy, and finance, as well as members of cross-functional new product development teams.
Representative titles include vice president or director of marketing, new product manager, product or brand manager, business development manager, strategic planner, designer, engineer, market analyst, and vice president or director of sales.
New Product Development and Strategic Marketing
Strategic Role of New Products in Organizations
Developing a New Products System
Developing a New Products Strategy
New Product Development Best Practices
Identifying "Breakthrough" Customer Needs
Product Development Using Consumer-based Methods
Implementing the New Product Process
Sales Forecasting: Methods for New Product Development
Developing a New Product Marketing Launch Plan
Course Summary and Wrap-Up
About the School
Since 1898, the University of Chicago Booth School of Business has produced ideas and leaders that shape the world of business. Our rigorous, discipline-based approach to business education transforms ... Read More