Strategic Product Development, Marketing & Prototyping
About This Course
The "Strategic Product Development, Marketing & Prototyping" course is a concise yet comprehensive program designed to equip professionals with the essential skills to conceptualize, develop, and refine new products, services, or experiences. Aligned with the TSC for Product Development (RET-PMN-3003-1.1), this course provides a structured framework for navigating the entire product lifecycle. Participants will gain practical insights into market analysis, customer-centric design, prototyping methodologies, cost-benefit assessment, supplier coordination, and post-launch evaluation. With a strong emphasis on hands-on application, this 16-hour course empowers individuals to drive innovation and bring viable products to market across diverse industries.
What You'll Learn
Learning Unit 1: Market Understanding & Concept Definition
1. Analyze current market trends and consumer needs, given industry data and market insights, to identify potential opportunities for developing new products.
2. Develop new product specifications, given a target market profile's demands and preferenes.
Learning Unit 2: Product Development & Prototyping
3. Perform a basic cost-benefit analysis for proposed products, given material/service costs, labor estimates, and pricing guidelines, to ensure their commercial viability.
4. Market new products (including hands-on prototyping/mock-ups where applicable), considering product development strategies and relevant legislation, in alignment with brand identity.
5. Evaluate suppliers, based on new product development needs and market selection criteria, optimizing quality and cost-effectiveness.
6. Manage supply chain logistics for the order processing and delivery of product components or services, considering different product categories, to ensure a smooth and timely product development process.
Learning Unit 3: Evaluation, Improvement & Commercialization
7. Analyse customer feedback throughout the product lifecycle and implement improvements to product specifications and quality, using established feedback mechanisms.
8. Analyse sales data and evaluate the performance of new products, considering target customer demographics and sales objectives, to assess market acceptance and determine future strategies.
Entry Requirements
Min Workplace Literacy and Numeracy (WPLN) 4 or GCE 'N' levels
Min Computing Literacy: able to use a laptop / mobile device with internet to create/edit documents