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New Product Development for Product Managers

33Product Management responsibilities are very broad and are critical determinants of an organization’s success or failure. Responsibilities include, but are not limited to, life cycle management, P&L oversight,market research, segmentation, competitive analysis, pricing, launch strategies, marketing plans, sales force motivation, and most importantly new product development (NPD).

Why Product Managers Are Worth Their Weight in Gold

Although new product development is a cross-functional activity, the product manager plays a starring role in the early stages by defining product strategy based on an informed understanding of customer needs, company strategy and capabilities, technological advances, competitive activities and trends in the environment. The product strategy defines the role of the product line within the company’s portfolio of products, a vision and rationale for how that product line will evolve over time, and identifies the resources (skills, technologies and assets) required to deliver that vision. The product strategy provides a clear focus that directs resources toward the opportunities that really matter, and helps the company avoid wasting resources on marginal or inappropriate opportunities.

This one-day NPD for Product Managers seminar addresses the Product Managers’ role in the early stages of the new product development process. The emphasis of this session will be on developing product strategies (including platform, market and technology strategies), translating those strategies into roadmaps, and building those strategies into a comprehensive NPD portfolio management system that prioritizes NPD projects and manages resources.

Important Concepts Covered:

  • What data/information do you need in order to develop your product strategies and how do you obtain it?
  • How do you develop a product strategy and how is that related to platform, market and technology strategies?
  • How do strategies relate to roadmaps and how do you create roadmaps?
  • What does a NPD Portfolio Management system look like?
  • How do you incorporate product, platform, market and technology strategies and roadmaps into the NPD Portfolio Management system?

Strategy 2 Market instructors are strategic new product development consultants who bring a considerable breadth and depth of experience in new product development, and discuss real life examples throughout the workshop. We have considerable experience working with product managers in the early stages of the new product development process.

Our focus is on education, not just training in tools and techniques. Each instructional segment incorporates class discussion and case studies that help you apply your knowledge of the course materials. We can also modify this class to meet your individual organization needs.

To learn about our other innovation and new product development courses, please click here.

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