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The New Product Development Process
Learn how an effective new product development process transforms an idea into a successful new productPreview the first lesson free — get full access to all 9 lessons.
Intermediate Provider : Scott Applebee 9 Lessons · 23m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
The goal of the New Product Development Process is to keep a new product project on track to its final destination of product launch. If all departments in an organization have the same understanding as to their role, it’s much more likely that things will run smoothly and without error. In this KnowledgeCity course, The New Product Development Process, you will learn how to transform a product idea into a successful new product. You will gain in-depth knowledge of the series of steps or phases an idea goes through on its way to launch.
You will also gain insight into the fundamentals of supporting an effective new product development process. This includes steps such as creating and sorting product ideas, the new product business plan, prototyping and performance testing basics, and market testing to finalize the product design. In addition, you will learn the financial and timeline impacts of equipment and tooling purchases. On top of that, you will explore purchase order release dates for inventory, pilot runs, and product launch.
What You'll Learn
- Describe how new product ideas are created, sorted, and screened
- Identify the fundamentals of an effective new product business plan
- Explain how a market test helps finalize the product design
- Apply prototyping and performance testing basics during development
- Describe the importance of pilot runs and testing through production release
- Explain marketing's role in commercializing the new product
Key Takeaways
- The goal of the New Product Development Process is to keep a new product project on track to its final destination of product launch.
- When all departments in an organization share the same understanding of their role, the process is more likely to run smoothly and without error.
- Transforming a product idea into a successful new product involves a series of steps or phases an idea goes through on its way to launch.
- Supporting an effective process includes creating and sorting product ideas, building the business plan, prototyping, performance testing, and market testing to finalize the design.
- Later stages address the financial and timeline impacts of equipment and tooling purchases, purchase order release dates for inventory, pilot runs, and product launch.
Frequently Asked Questions
What will I learn in this course?
You will learn how to transform a product idea into a successful new product, gaining in-depth knowledge of the series of steps or phases an idea goes through on its way to launch, plus the fundamentals of supporting an effective new product development process.
What topics does the course cover?
It covers creating and sorting product ideas, the new product business plan, prototyping and performance testing basics, market testing to finalize the product design, the financial and timeline impacts of equipment and tooling purchases, purchase order release dates for inventory, pilot runs, and product launch.
How is the course structured?
The course is organized into lessons including Introduction; Ideation and Screening; Planning, Strategy, and Analysis; Planning, Prototyping, and Testing; Market Testing and Further Development; Equipment, Tooling, and Purchase Order Releases; Pilot Runs Through Production Release; Commercialization; and a Test Your Knowledge assessment.
What is the goal of the New Product Development Process?
The goal is to keep a new product project on track to its final destination of product launch, with all departments sharing the same understanding of their role so things run smoothly and without error.
