In this intensive course, we focus on some of the most important skills required for commercial product management - financial management, forecasting and building business cases. The workshop de-mystifies financial jargon and provides a practical approach for developing commercial strategies for products and compelling cases for developing and adopting them
By the end of the program, participants will be able to:
- Examine all aspects of the New Product Development (NPD) process, and the factors influencing all the stages involved in a 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 manage the launch process.
New Product Development (NPD)
- NPD Definitions and Challenges
- NPD Objectives and Critical Success Factors
- NPD Reasons for Success and Failure
- NPD as a Key Marketing Strategy
- Assessing Commercial Viability
The New Product Development Process
- Idea Generation and Screening
- Concept Development and Testing
- Marketing Strategy
- Business Analysis
- Product Development
- Test Marketing
- Commercialization
The Product Life Cycle and New Product Launch (NPL)
- 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)
New Product Launch: Setting up the Stage
- 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
- Setting the Product Marketing Mix
New Product Launch: Full Engagement Launch
- 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 NPL Workshop: Putting it All Together
- Designing and Conducting a New Product Launch
- Presenting the Launch Plan
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 involved in product launch and management.