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

• Understand the eight critical keys to success
• Define objectives and strategies for your new product development program
• Analyze from a financial perspective
• Bring innovation to market quickly using new product development insights
• Effectively handle product testing and launch issues
• Use market research to identify profitable new markets
• Successfully manage your team

• How to generate ideas for new products
• Surveying your competition
• Determining if new products are in line with overall corporate strategy and with your current portfolio
• Conducting small-scale tests to eliminate unprofitable ideas
• Techniques of market testing
• Developing a market-driven business plan
• The team approach to managing new products
• Managing the product life cycle: the launching process…evaluating market performance results

Learning Objectives

• Generate Potential New Product/Service and New Market Ideas That Fit Your Business Strategy
• Screen and Evaluate Potential New Product/Service and New Market Ideas
• Analyze New Product/Service and New Market Opportunities from a Financial Perspective
• Develop New Products or Services and Enter New Markets More Quickly
• Handle Product and Service Testing and Launch Issues
• Develop Highly Innovative New Products or Services
• Understand the Role of Each Step in the Product/Service Development and New Market-Entry Processes. Learn to
• Integrate These Steps to Set Up Effective New Product/Service Development and New Market-Entry Processes

Introduction—The New Product/Service Development Process

• Understand the Structure of the New Product/Service Development Process
• Know the Primary Reasons for New Product and Service Failure
• Understand the Concept of Increasing Costs, and Its Implications for the New Product/Service
• Development Process
• Know Who Should Be Making the Decisions at Each Step of the New Product/Service Development Process
• Understand the Relationship Between Revenues and the Level of Innovation
• Understand the Key Differences Between Developing Products and Services
• Understand the Key Differences Between Developing Business-to-Business and Consumer
• Produces/Services
• Know the Learning Objectives and Major Themes of This Training Program

Defining Your Charter

• Understand What a Charter Is, and the Role It Plays in the Product/Service Development Process
• Develop a Charter for Your Business Unit

Idea Generation

• Identify the Key Idea-Generation Techniques in Use Today
• Use These Techniques to Generate Potential New Product/Service and New Market Ideas That Fit Your Business Strategy

Post-Ideation Screens

• Develop Your Own Post-Ideation Screens
• Use These Post-Ideation Screens to Filter Potential New Product/Service and New Market Ideas

Market Research

• Understand the Principal Market-Research Techniques in Use in New Product/Service Development and New Market Entry
• Use These Market-Research Techniques During the New Product/Service Development and New Market-Entry Process

Interim Screens

• Understand Why We Use an Interim Screen
• Understand the Ten Critical Factors Behind New Product/Service Success
• Know the Items We Need Before Interim Screens
• Develop Your Own Interim Screens

Business Analysis for New Products, Services, and Markets

• Analyze New Product/Service and New Market Opportunities from a Financial Perspective
• Understand How to Use Capital Budgeting as the Business Analysis Tool for New Products/Services and New Market Opportunities
• Know How to Obtain the Information You Need to Develop a New Product/Service or New Market Capital Budget
• Forecast New Product/Service and New Market Sales
• Choose Between Optimizing Time, Quality, and Cost

Developing Highly Innovative Products, Services, and/or Entering Highly Innovative New Markets

• Understand Why We Need a Different Process for Developing Highly Innovative Products/Services, and Entering
• Highly Innovative New Markets
• Know How to Develop Highly Innovative Products/Services and Enter Highly Innovative New Markets

Development

• Know the Reasons Why Products/Services Can Be Late to Market
• Develop Your New Products/Services Faster

Testing

• Understand Why We Test Products/Services During Development
• Know How to Test Business-to-Business and Consumer New Products/Services
• Know If We Should Test a New Product/Service, and When Not to

Product/Service Launch

• Launch New Products/Services

New-Market Entry

• Use the Tools Covered in This Seminar to Enter New Markets

After the Launch

• Manage the Period Immediately After Launch
• Know When to Modify Your Products/Services After Launch Needed
• Understand the Psychographic Groups That Come into Play at Different Stages of the Product/Service Life Cycle, and
• How They Affect Your Products/Services After Launch
• Understand How to Extend the Life of a Failing New Product/Service
• Know How to Phase Out or Drop a Failing New Product/Service

Sales staff, managers, business owners