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Developing a New-product Strategy

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• Description: Product development is not a mystery. Nor is it only the concern of your research and development department. One of your main responsibilities as a product manager is to create a new-product strategy. This means that in addition to developing new-product goals, you also need to develop a plan for reaching those goals. In this course, you'll explore the tools and techniques to help you create a new-product strategy for the products or product line for which you're responsible. First, you will learn about two strategic ingredients that are essential in new-product strategies. Then you will investigate the four steps of a new-product strategy. Finally, you will learn how to incorporate the four steps into your unique plan.
• Target audience: Entry-level product managers
• Estimated Duration: 2
• Lesson Objectives: Starting Your New-product Strategy
  • identify the value of understanding strategy types and scenarios.
  • match strategy types to corresponding examples.
  • match strategy scenarios with corresponding examples.
  Steps of a New-product Strategy
  • identify the reasons why it's important to develop an effective new-product strategy.
  • sequence examples of the steps for developing an effective new-product strategy.
  • identify examples of goals that meet the SMART criteria.
  • analyze a given scenario to recommend improvements for setting goals in a new-product strategy.
  • match the steps for identifying strategic arenas to corresponding examples.
  • apply the steps for identifying strategic arenas in a given situation.
  • match spending splits with correct examples of each.
  • match frameworks for implementation plans to corresponding examples.

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