Program Objectives:
By the end of the program, participants will be able to:
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Examine all aspects of the New Product Development (NPD) process, its importance, and factors influencing stages involved in successful NPD.
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Identify a variety of launch success factors that will improve launch process planning and execution.
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Suggest ways for companies to avoid launch ruts by adopting techniques that appeal to today’s consumers.
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Understand the importance of using media vehicles to ignite the product launch process and increase the viability of the new product.
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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
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NPD Definitions and Challenges
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NPD Objectives and Critical Success Factors
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NPD Reasons for Success and Failures
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NPD as a Key Marketing Strategy
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Assessing Commercial Viability
The New Product Development Process
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Idea Generation and Screening
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Concept Development and Testing
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Marketing Strategy
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Business Analysis
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Product Development
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Test Marketing
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Commercialization
The Product Life Cycle and New Product Launch
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Life Cycle Stages
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Product Life Cycle Strategies
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The Phase-Gate Process: Structuring the NPL
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The Boston Consulting Group Growth Matrix
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The Product Market Expansion Grid (A Portfolio Planning tool)
New Product Launch: Setting Up the Stage
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Things to Consider Prior to Product Launch
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The Launch Hurdles
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Planning Your Media Schedule and Costs
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Selecting the Launch Team
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Preparing the Product Launch Checklist and Toolkits
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Product Launch Strategies
New Product Launch: Full Engagement Launch
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Preparing the Press Kit Checklist
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Product Launch Marketing Budget Toolkit
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Preparing the Press Release
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The Product Launch Plan
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Product Overview Document
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SWOT Analysis, Graphic Chart, and the Creative Plan
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The Role of the Advertising Agency
The NPL Workshop: Putting It All Together (Group Together)
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Designing and Conducting a New Product Launch
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A Challenging Team Game: Presenting the Launch Plan