Product Development
About This Course
This immersive 2-day course equips participants with the strategic and practical competencies needed to spearhead successful product initiatives, from insightful market analysis to effective launch and continuous improvement. Participants will learn to identify market opportunities, translate customer needs into robust specifications, and manage the entire product lifecycle including the actual product development, making a case for its financial viability, and coordinating with suppliers. This program offers a holistic approach to product development, enabling professionals to innovate, manage, and optimize offerings across various product categories while ensuring market relevance and regulatory compliance.
What You'll Learn
• LO1. Analyse market trends and customer demographics to identify promising opportunities and interpret product specifications for new product development
• LO2. Formulate robust product development strategies for various product categories, effectively leveraging market selection criteria, and considering the product lifecycle and brand identity
• LO3. Execute new product development, marketing, and promotional activities, ensuring compliance with relevant legislation
• LO4. Conduct comprehensive cost-benefit analyses and manage product costing to ensure the financial viability of proposed products
• LO5. Select and collaborate with suppliers for efficient production, order processing and delivery across different product categories
• LO6. Evaluate new product sales performance based on collated data
• LO7. Collect and analyse customer feedback to inform improvements to product specifications and quality
Entry Requirements
Entry Requirements
- 1 year of working experience in any sector; and
- Workplace Literacy and Numeracy (WPLN) 4 or equivalent
*Learners without the right WPLN or equivalent qualifications can be accepted if they have at least 3 years of relevant working experience in design or media-related roles, subject to the MR’s approval.