New Product Development How The Big Brands Do It

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Practical guide to new product development based on the process followed by marketing teams of successful brands today

Last updated 2022-01-10 | 4.1

- Students will learn the fundamentals of New Product Development as applicable in industry today with emphasis on understanding the linkage between consumer needs and business needs
- How to evaluate
- develop and launch a new product in any market? It covers all the steps to be followed upto the final launch.
- This course will teach you the actual processes followed by marketing teams of successful brands

What you'll learn

Students will learn the fundamentals of New Product Development as applicable in industry today with emphasis on understanding the linkage between consumer needs and business needs
How to evaluate
develop and launch a new product in any market? It covers all the steps to be followed upto the final launch.
This course will teach you the actual processes followed by marketing teams of successful brands
Why corporations and brands are so serious about innovation and NPD and how they go about it?
I have tried to explain concepts using actual industry examples
instead of theoretical ones used in text books.

* Requirements

* A basic understanding of business and products

Description

We see new products hitting retailer shelves all the time. They attempt to solve a new consumer need, or solve an existing need in a "newer" way. However, the harsh reality is that more than 95% of all new consumer products that are launched FAIL. In fact, most of these are discontinued by their brands before the end of 2 years from launch, after accumulating huge losses for their parent company

New products developed without doing the due diligence from both (1) consumer and (2) business perspectives are well on their way to the 'failed-launches graveyard', taking reputations of many marketers along with them

In this course you will learn the most contemporary new process development system used by successful brands. It gives a unique consumer and business understanding, that professional brand managers have developed with reference to new products

This course adds the practicality of business and market perspectives to the theoretical knowledge of marketing text books

Who this course is for:

  • Young executives and managers in companies
  • Marketing students and students interested in marketing
  • Entrepreneurs
  • Individuals preparing for an interview for roles in marketing at organisations
  • Anyone interested in understanding learning practical marketing

Course content

5 sections • 21 lectures

Introduction - What you can look forward to in this course? 1 lectures

Introduction - What you can look forward to in this course? Preview 03:34

What is New Product Development (NPD) and why is it required? 3 lectures

What is New Product Development? Preview 09:06

Why is NPD important? Preview 14:25

Section 2 Quiz

Classification of NPDs and their strategic requirement 4 lectures

Innovation NPD Preview 08:56

Renovation NPD Preview 05:58

Business Sustaining NPD Preview 08:38

Section 3 Quiz

New-product development process 10 lectures

The New Product Development process Preview 03:58

Step 1: Idea Generation Preview 23:44

A detailed understanding of the Idea Generation stage

Step 2: Idea Screening Preview 16:57

A detailed understanding of the Idea Screening step and how to go about it

Step 3: Product Concept Development and Testing Preview 15:15

A detailed understanding of the Product Concept testing and how it is tested, with an example.

Quiz Time

Step 4: Marketing Strategy Development & Step 5: Business Analysis Preview 25:04

A detailed understanding of the constituents of a marketing strategy development step and business analysis step

Quiz Break

Step 6: Developing the product Preview 22:12

A detailed understanding of product development step with creating product, packaging and graphics briefs

Step 7 & 8 : Test Marketing & Commercialization Preview 27:35

A detailed understanding of test marketing and commercialization

Quiz Time

Stage Gate Process of Innovation and NPD 3 lectures

What is the Stage Gate Process? Why is it required? Preview 06:16

New Product Development and the Stage Gate Process Preview 11:09

Section 5 Quiz