New Product Development (NPD) -How the big brands do it
What you'll learn
- Students will learn the fundamentals of New Product Development as applied in industry with emphasis on understanding the link between consumer business needs
- How to evaluate, develop and launch a new product in any market? It covers all the steps to be followed upto the final launch.
- This course will teach you the actual processes followed by marketing teams of successful brands
- Why corporations and brands are so serious about innovation and NPD and how they go about it?
- I have tried to explain concepts using actual industry examples, instead of theoretical ones used in text books.
- A basic understanding of business and products
We see new products hitting retailer shelves all the time. They attempt to solve a new consumer need, or solve an existing need in a "newer" way. However, the harsh reality is that more than 95% of all new consumer products that are launched FAIL. In fact, most of these are discontinued by their brands before the end of 2 years from launch, after accumulating huge losses for their parent company
New products developed without doing the due diligence from both (1) consumer and (2) business perspectives are well on their way to the 'failed-launches graveyard', taking reputations of many marketers along with them
In this course you will learn the most contemporary new process development system used by successful brands. It gives a unique consumer and business understanding, that professional brand managers have developed with reference to new products
This course adds the practicality of business and market perspectives to the theoretical knowledge of marketing text books
Who this course is for:
- Young executives and managers in companies
- Marketing students and students interested in marketing
- Individuals preparing for an interview for roles in marketing at organisations
- Anyone interested in understanding learning practical marketing
- Seasoned FMCG Brand Manager who has lead brands with large billion dollar multinationals. I have over 10 years of corporate work experience in business and brand management.
- Currently heading FMCG private labels for a large retailer with 650+ stores
- MBA (Marketing) from a leading B-school
- Bachelor of Engineering (Electronics and Telecommunications)
- Deeply passionate about consumer behavior and brand strategies