New product development is essential to the survival of many businesses in different industries.Your company’s success depends on its relevance and presence in the marketplace. Today, this means that new and innovative products must keep pace with the demand in the marketplace.
The volume of sales of successful business organisations linked to the successful launch of new products and services is substantial, however, the failure rate of new product development projects is also quite high. Each year more than 30,000 new products are launched and 95% of them fail. Because of this, a successful framework based on a well-designed process as well as resources and techniques for managing new product development projects is essential. according to a recent study, the biggest problem companies encountered when launching a new product is lack of preparation.
Product developers are facing an exceedingly competitive marketplace. Restricted internal resources and budgets, a growing need to move quickly to the market, brand names whose credibility is being stretched, combined with competitive customers, all make the risks and rewards of product creation bigger and much more unpredictable than in the past.
New product development is the process of taking a new product or service from conception to the market. The process sets out a sequence of phases that new products generally go through, starting with the development of ideas and concepts, and finishing with the launch of the product to the market. Occasionally, certain phases overlap or differ depending on the nature of the company.
The principles and resources covered in these courses aim to increase new product and service success rates, minimize expensive lead times, redesigns, and software issues and eradicate service headaches after launch.
What will set you apart
New product development courses will give a clear view of the new product development landscape and will give you practical information about how to pick, schedule, track and control a new product development project using the right tools and techniques.
By taking a training course in new product development, you will be able to understand the role and characteristics of entrepreneurship and market adoption of new products and services.
Are new product development training courses for you?
Learn how to deal with the central challenges and the processes, tools, and techniques that are involved in the design and development of new products that can potentially be successful in an evolving marketplace.
These courses will be beneficial for chief innovation professionals, new product development engineers, product managers, quality directors, project managers, and decision-makers that are involved in the strategic planning of new products, services, and processes.