Learn how to deal with the central challenges and the processes, tools and techniques that are involved in the design and development of new products that can potentially be successful in an evolving marketplace
An effective process for conceiving, developing and launching new products or services is critical to becoming competitive in most industries. This course includes key concepts like new product development strategy, types of product development strategies and steps.
This course involves
(a) Organizational integration of the work of functional specialists, industrial designers, and other key participants within the firm.
(b) Reducing the time-to-market while meeting cost and quality targets.
(c) Managing cross-functional projects and inherent technological risks while keeping a focus on changing customer requirements.
These challenges are examined in relation to the business level strategy of the firm, its competitive challenges, the technology life cycle and the product life cycle. We will also focus on the potential for firms to build markets and create demand for new products.
What will you learn
- Understand the entire product development process from the product idea to eventual launch with an appropriate business model.
- Learn how emerging market firms gain competitive advantage through design and development of locally relevant products.