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Planning and Developing New Products
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Provider:
AMA (American Management Association International)
Topic(s):
Customer Service & Sales > Products & Packaging
Who Should Attend?
Professionals with 6 months to 5 years of new product development experience, managers of new product planning and development; corporate planners; R&D directors/managers; project managers/directors and specialists in new product design; product managers
Full Seminar Description
When it comes to new product development, it can be a long haul from concept to profitability. Here's where you'll learn methods to get maximum mileage from market research -- strategies for breakthrough ideas -- and tactics for innovative and new product development. Attendees should have two years of marketing experience. 3 days. CEUs: 1.8. Fee per person: $2195, $1995 for AMA members.When it comes to new product development, it can be a long haul from concept to profitability.
Here’s where you’ll learn methods to get maximum mileage from market research…strategies for breakthrough ideas…and tactics for innovative and new product development.
Who Should Attend
Professionals with six months to five years of new product development experience, managers of new product planning and development…corporate planners…R&D directors and managers…project managers and directors and specialists in new product design…product managers…marketing vice presidents, directors and managers.
Note: Attendees should have two years of marketing experience.
This course qualifies for 18 PDHs in maintaining the EMCF (Engineering Management Certified Fundamentals) and EMCP (Engineering Management Certified Professionals) credential, as well as for "contact hours" that are required to apply to sit for the EMCF and EMCP Certification Examination.
HOW YOU WILL BENEFIT:
- Understand the eight critical keys to new product success
- Define the objectives and strategies for your new product program
- Analyze new products from a financial perspective
- Bring innovative new products to market quickly
- Effectively handle product testing and launch issues
- Use market research to identify profitable new markets
- Successfully direct, manage and control your new product team
WHAT YOU WILL COVER:
- How to generate ideas for new products
- Determining if new products are in line with overall corporate strategy and with your current portfolio
- Conducting small-scale experiments to eliminate unprofitable ideas
- Techniques of market testing
- Developing a market-driven business plan
- Surveying your competition
- The team approach to managing new products: gaining everyone’s cooperation...successful program management techniques
- Managing the product life cycle: launching the new product...evaluating market performance results
Extended Seminar Outline
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
3 days/1.8 CEUs
Sponsor Background:
The American Management Association was founded in 1923. They have built a content control check into every one of their professional seminars. Plus a series of checks and balances to ensure that the content of every AMA seminar is precisely targeted to:- provide comprehensive, hands-on training that is of practical use when you return to the job
- focus on need-to-know specifics, relevant to the demands of global business today
- offer the expertise and personalized attention of top-ranking instructors
- facilitate your career development and business savvy
Whether you're looking for a solid foundation of business fundamentals or strategies to help you seize growth opportunities for your company, AMA offers expert instruction to help you:
- manage your priorities effectively
- cultivate more productive working relationships
- increase your on-the-job value
- align your skills with marketplace demands
- bring out the best in people, processes and yourself
Cancellation and Refund Policy
If you cannot attend a seminar you may contact AMA in advance to transfer to a future session, or can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply call. If you cancel with less than three weeks' notice, you will be liable for the entire seminar fee, however you may request a courtesy transfer to use at any future AMA seminar of equal or lesser value. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed, and do not cancel with a minimum of three weeks’ notice as described above, you will be charged the entire seminar fee.
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