New product Development

As human beings, we cannot hope to grow if we do not try something new.  As entrepreneurs and businesses, there likewise can be little growth, and little competitive advantage, if there is not continual emphasis placed on the development of new products that consumers want and are willing to buy. This course covers extensively the new product development process (NPD) includes all of the steps necessary for businesses to create, develop, and promote new products, beginning with numerous brainstorming sessions that eventually lead to a concept or idea that must then be evaluated and tested before potentially being launched to market. The considerable investment must be made in the early stages of the process, to allow a company to evaluate and weigh the risk versus reward of proceeding with new product ideas before investing substantial amounts of time and financial resources on products that may eventually fail.