Overview:

Program Objectives:

By the end of the program, participants will be able to:

• Examine all aspects of the New Product Development (NPD) process, its importance, and factors influencing stages involved in 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 smoothen the launch process.

This Program is designed for:

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 over a wide range of business areas; and everyone involved in Strategy Planning. This program is worth 25 NASBA CPEs.

Program Outline:

New Product Development

• NPD Definitions and Challenges
• NPD Objectives and Critical Success Factors
• NPD Reasons for Success and Failures
• 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

• 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

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 (Group Together)

• Designing and Conducting a New Product Launch
• A Challenging Team Game: Presenting the Launch Plan