Product Development Training

Training

Product Development and Portfolio Management Training

Product development is the process of creating new products or improving existing ones to meet the needs of customers and the goals of the organization. It includes activities such as market research, idea generation, design and prototyping, testing, and commercialization. The process starts with identifying a customer need, generating ideas, developing a product, testing it, and launching it to the market.

Product portfolio management, on the other hand, is the process of managing a company's portfolio of products and services. It involves identifying which products and services to invest in, which to discontinue, and how to allocate resources among them. This process helps to ensure that the company's products and services align with its overall strategy and goals, and that resources are allocated to the most promising opportunities.

Product portfolio management also includes ongoing monitoring and analysis of the product portfolio, and making adjustments as necessary to ensure that the portfolio remains aligned with the company's overall strategy and goals.

Overall, product development and portfolio management are closely related, as product development is an important part of the overall product portfolio management process. Both are critical to the success of an organization, as they help to ensure that the company is developing and offering products and services that meet the needs of customers and support the company's overall goals.

“Product development is about creating something new, not just improving something that already exists.” - Steve Jobs

What we offer in this Training

A product development and portfolio management training session covers a variety of topics, such as:

• Understanding customer needs: Trainees may learn how to identify customer needs and use them as the basis for product development.
• Idea generation and product design: Trainees may learn how to generate ideas for new products and how to design and prototype them.
• Market research: Trainees may learn how to conduct market research to understand customer needs, market trends, and competition.
• Product testing and commercialization: Trainees may learn how to test new products, make adjustments based on feedback and launch it to the market.
• Portfolio management: Trainees may learn how to manage a company's portfolio of products and services, including how to identify which products and services to invest in, which to discontinue, and how to allocate resources among them.
• Resource allocation: Trainees may learn how to allocate resources effectively among products and services.
• Decision-making: Trainees may learn how to make data-driven decisions based on market research, customer needs, and financial analysis.
• Strategic planning: Trainees may learn how to align the product development and portfolio management strategies with the overall business strategy.
• Continuous improvement: Trainees may learn how to continuously monitor and improve the product portfolio to ensure that it remains aligned with customer needs and the company's overall goals.

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