New product development is how companies create new offerings to sell. This training video covers questions like: What's the process for creating a new product? Who decides what new products to build and launch? What market research is done to support new product launches? How long does it take to create a new product? What's your approach to protecting new products (patents/copyrights, speed to market, scale, and brands)?
- New products are the lifeblood…of an organization's future sales.…Some new products are created in R and D,…others are created in marketing, or sales.…Some companies have an entirely different…new product development function.…What's the process for creating new products…or services in your organization?…Who decides what products to launch?…What market research is done…to support those new product launches?…How long does it take to create a new product?…Sometimes it's hours, sometimes it's years.…
How long does it take your organization?…How do you protect new products…once you get them into the market?…Do you have patents or copyrights?…Do you use speed to market to protect it?…Do you achieve scale or put a brand on the product…and build a relationship with your customer?…There are all different ways that you can…and should protect your product once it goes to market.…Some different examples…that I've seen include a small internet company…where new products were created by the team.…
The team had an idea, they launched it quickly,…
- What business are you in?
- What's your market and who is your competition?
- What problem does your business solve?
- How are your products and services created? What are your pricing and growth strategies?
- How do you measure performance?
With the answers in hand, you can be assured your have the knowledge to make the best decisions for your business.
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- Define and explain business acumen.
- Describe different types of growth horizons.
- Identify critical elements of knowing your business.
- Explain the effects of price changes on profits.
- List common growth methods.
- Evaluate your initiative pipeline.
- Define common business terms.
- Assess trends and your competitive environment.