New product development (NPD) is a disciplined and defined set of steps by which a company converts fledgling ideas into concrete products or services.
This course will teach you the overall process of strategy, organization, and concept generation in NPD. You’ll also touch on elements of effective marketing and commercialization.
In the course, you will learn the key success factors in NPD and discover ways to create that success in your own organization.
At the end of this course, you’ll be able to:
- distinguish between innovation and invention.
- apply the techniques used to generate and screen new product ideas.
- develop a clear marketing strategy for a new product idea.
- develop an action plan for improving NPD in your business.
- recognize and incorporate NPD success factors, such as corporate strategy, strategic management, organizational structure, and uncertainty management.