How to Develop a New Product and Take it to Market
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How to Develop a New Product and Take it to Market

Got a clever idea and want to know how to build your product, test the market, and determine if its profitable?
5.0 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
9 students enrolled
Last updated 5/2016
English
Current price: $10 Original price: $20 Discount: 50% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1.5 hours on-demand video
  • 17 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • At the completion of this course, you will have an understanding of the technical, marketing and financial challenges that await you and be able to confront them head-on with a new set of tools to launch a profitable business.
View Curriculum
Requirements
  • Students should be able to develop financial spreadsheets to attract financing.
Description

This 90-minute course will teach you the secrets of developing a new product, validating the market, developing a viable business model, protecting your intellectual property, and obtaining seed capital to finance and launch your new business. 

Who is the target audience?
  • This course was designed for an entrepreneur who has an innovative idea or concept for a new product and wants to know how to develop the product and take it to market and make some real money.
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Curriculum For This Course
9 Lectures
03:13:26
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#1 - Course Introduction
1 Lecture 07:19

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #1 – Introduction

This course was designed for an entrepreneur who has an innovative idea or concept for a new product and wants to know how to develop the product and take it to market. 

At the completion of this course, you will have an understanding of the technical, marketing and financial challenges that await you and be able to confront them head-on with a new set of tools to allow your your business to become profitable.

The Introduction will take you through the product development and marketing process and the steps you need to take along the way to successfully launch your product into the market place.

Your facilitator has successfully developed and introduced many new products into the market over the past 40 years and will tell you his secrets of success.

Preview 07:19
+
#2 - Concept Analysis
2 Lectures 18:17

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #2 - CONCEPT ANALYSIS

 

Determining that the physical features of the concept are potentially achievable and operational

 

Objective: Succinctly define the concept to assess the implementation potential of the technical aspects of the concept and establish the uniqueness of the concept.

 

Product: A verbal description, schematic, formula, conceptual model or paper design that delineates the main technical features of the concept.

 

Activities:

•      Define the concept fully

•      Demonstrate performance assumptions are viable

•      Assess critical barriers to production

•      Survey the state-of-the-art of the technology

•      Estimate the working models costs


Preview 09:38

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #2 - CONCEPT ANALYSIS

 

Determining that the physical features of the concept are potentially achievable and operational

 

Objective: Succinctly define the concept to assess the implementation potential of the technical aspects of the concept and establish the uniqueness of the concept.

 

Product: A verbal description, schematic, formula, conceptual model or paper design that delineates the main technical features of the concept.

 

Activities:

•      Define the concept fully

•      Demonstrate performance assumptions are viable

•      Assess critical barriers to production

•      Survey the state-of-the-art of the technology

•      Estimate the working models costs

 

Minimum Viable Product
08:39
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#3 - Customer Acquisition
2 Lectures 22:47

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #3 – Customer Acquisition

 

Determining whether the concept demonstrates superior ability over current solutions to meet a market need

 

Objective: Identify a potential market for the concept, estimate the market size and determine the value of the product. Identify who will buy the product, how many units will they buy, and how much they will pay.

 

Product: A short summary of information from trade journals, data bases, and interviews to demonstrate the product is unique and sustainable in a competitive marketplace.

 

Activities:

•     Identify three unique features or benefits of the product

•     Identify the competition

•     Establish customer requirements for the product

•     Identify potential market barriers

•     Identify market distribution channels

•     Identify product pricing criteria

 

Product / Market Fit
10:51

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #3 – Customer Acquisition

 

Determining whether the concept demonstrates superior ability over current solutions to meet a market need

 

Objective: Identify a potential market for the concept, estimate the market size and determine the value of the product. Identify who will buy the product, how many units will they buy, and how much they will pay.

 

Product: A short summary of information from trade journals, data bases, and interviews to demonstrate the product is unique and sustainable in a competitive marketplace.

 

Activities:

•     Identify three unique features or benefits of the product

•     Identify the competition

•     Establish customer requirements for the product

•     Identify potential market barriers

•     Identify market distribution channels

•     Identify product pricing criteria

 

Value Proposition
11:56
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#4 - Scaling Your Business
2 Lectures 26:37

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #4 – SCALING YOUR BUSINESS

 

Proving that the concept will perform and can be produced

 

Objective: Confirm that the product will perform and to verify that there are no technical production barriers.

 

Product: Working Model of a Minimum Viable Product (MVP)

 

Activities:

•     Test for technical feasibility. Secure Intellectual Property rights.

•     Examine the operational requirements

•     Identify potential safety and environmental hazards

•     Conduct a preliminary production feasibility assessment

•     Conduct a preliminary manufacturing assessment

•     Estimate engineering prototype costs

 

Commercialization
13:36

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #4 – SCALING YOUR BUSINESS

 

Proving that the concept will perform and can be produced

 

Objective: Confirm that the product will perform and to verify that there are no technical production barriers.

 

Product: Working Model of a Minimum Viable Product (MVP)

 

Activities:

•     Test for technical feasibility. Secure Intellectual Property rights.

•     Examine the operational requirements

•     Identify potential safety and environmental hazards

•     Conduct a preliminary production feasibility assessment

•     Conduct a preliminary manufacturing assessment

•     Estimate engineering prototype costs

 

Intellectual Property
13:01
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#5 - Profitability Analysis
2 Lectures 24:26

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #5 – PROFITABILITY ANALYSIS

 

Determining whether the business opportunity demonstrates profit potential

 

Objective: Determine if the concept offers sufficient profit potential to pursue additional investment of time and money for additional research and the organization is capable of taking the product to market.

 

Product: A brief description of the business model.

 

Business Activities:

•     Identify financial, physical, and human resources required for commercialization

•     Identify the status of intellectual property requirements

•     Establish a positive profit potential

•     Begin the process of developing a Business Plan to raise debt or equity financing

 

Sales, Costs and Profits
12:09

HOW TO DEVELOP A NEW PRODUCT AND TAKE IT TO MARKET

SECTION #5 – PROFITABILITY ANALYSIS

 

Determining whether the business opportunity demonstrates profit potential

 

Objective: Determine if the concept offers sufficient profit potential to pursue additional investment of time and money for additional research and the organization is capable of taking the product to market.

 

Product: A brief description of the business model.

 

Business Activities:

•     Identify financial, physical, and human resources required for commercialization

•     Identify the status of intellectual property requirements

•     Establish a positive profit potential

•     Begin the process of developing a Business Plan to raise debt or equity financing

 

Obtaining Financing
12:17
About the Instructor
Dr. James W Wasson
5.0 Average rating
1 Review
9 Students
1 Course
Expert at helping you launch a profitable new product

Dr. Jim Wasson is founder and President of Growth Strategies International, LLC (GSI) providing Technology Commercialization Management Consulting Services to assist organizations in Strategic Planning, Business Development, Product Development, Project Management and Operations Management. GSI clients include the U.S. Air Force, U.S.Navy, Boeing, Bennett Aerospace, Orbital Research, Vital Strategies, etc. 

Dr. Wasson is currently under contract to the University of South Carolina Small Business Development Center as a Technology Commercialization Business Consultant to assist entrepreneurs in taking an idea or concept through MVP prototype development, validating product market acceptance, developing a profitable business models and obtaining seed capital.

Dr. Wasson was Chief Technology Officer at BAE Systems Inc., where he planned and directed their new product development portfolio and created and led the Innovation Venture. He has over 20 years of prior experience as Director/Manager of Engineering Technology, Program Management and Business Development at GE Aviation and Boeing Defense Systems. In addition, he founded and operated three successful high-technology small businesses, including GSI, ProLink™, and Avionics Engineering Services, Inc.

Previously, Dr. Wasson was Chairman of the Graduate Business and Management College for the University of Phoenix West Michigan Campuses and was an MBA Adjunct Professor for 15 years. He has a PhD and MBA in International Business Administration and a BS in Engineering Technology. He is also a certified Project Management Professional and Government Contracts Management Professional. He has published four textbooks.