Product Development & Management
Introduction
Master the strategic approach to product development with our "Product Development & Management" training program. This comprehensive course encompasses the entire product lifecycle, from market research and idea generation to go-to-market strategies and beyond. Discover how to identify market needs, align product features with customer expectations, and manage cross-functional teams for optimal results. Gain practical experience in agile development methodologies and product lifecycle management to enhance innovation, minimize risks, and maximize profitability. Regardless of your industry, this program delivers expert knowledge and proven strategies to drive product success.
How you will benefit
- Appropriately allocate resources among products
- Prepare a meaningful business case
- Price products to optimize product and product-line profitability
- Determine the most effective methods for obtaining and integrating market feedback to drive product decisions
- Effectively manage your product team, even without direct authority
- Influence all stake-holders in your products
- Develop a top-notch launch plan
- Optimize the marketing mix
Who should attend
Product Managers, Directors and Vice Presidents of Product Management, Engineers looking to move into or interfacing with Product Management Strategic planners, VPs, and others who manage product portfolios and corporate strategy. This course is both for those managing existing products and launching new products
What you will cover
- Correlation between Corporate and Product Strategy: Examine how product strategies align with overarching corporate goals to ensure cohesive business direction.
- Identifying Your Position in the Business Life Cycle: Assess the current stage of your company - startup, growth, maturity, or decline - to inform product development decisions.
- Timing for New Product Introduction: Determine optimal moments for launching new products based on market readiness and organizational capacity.
- Understanding Product Concepts Across Industries: Explore how product ideas vary in different sectors and the implications for development strategies.
- Levels of New Product Development: Learn about incremental improvements versus radical innovations and their respective development processes.
- Tools for Testing and Developing New Products: Familiarize yourself with methodologies such as prototyping, minimum viable products (MVPs), and market simulations to refine product ideas.
- Step 1: Identify New Product Opportunities: Conduct market research to uncover gaps and emerging trends that present potential product ideas.
- Step 2: Set Objectives: Define clear, measurable goals for the new product, aligning them with strategic business aims.
- Step 3: Generate and Test New Product Ideas: Brainstorm innovative concepts and evaluate them through feasibility studies and concept testing.
- Step 4: Develop the New Product: Advance selected ideas into tangible products through design and development, ensuring functionality and appeal.
- Step 5: Conduct Product Testing: Implement alpha and beta testing phases to gather user feedback and make necessary refinements.
- Step 6: Develop a Marketing Plan: Create a comprehensive strategy detailing target markets, positioning, pricing, and promotional tactics.
- Step 7: Introduce to the Test Market (Product Pilot) & Risk Management Plan: Launch the product in a controlled environment to assess performance and identify potential risks, developing mitigation strategies accordingly.
- Step 8: National Product Launch: Roll out the product on a larger scale, supported by a robust launch plan and ongoing performance monitoring.
Schedule
