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New Product Development For Small Businesses and Start-Ups

In this 1 hr 40 mins long project-based course, you will learn about the process of developing a new product for start-up companies, and small and medium-sized enterprises (SMEs). You will learn about idea generation and the evaluation processes in product development by using an idea generation model and online resources like Google Trends and Amazon. You will use methods to evaluate your product concept through market segmentation, growth potential, and the competition to your product. You will also evaluate a supplier and the cost to your product by analyzing component prices and production rates. By the end of this project, you will be able to create a full retrospective plan for the product launch and understand how and why the specifications are done.

Note: This course works best for learners who are based in the North America region. We’re currently working on providing the same experience in other regions.

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What's inside

Syllabus

New Product Development for Start-Ups and SMEs

In this project, you will learn about the process of developing a new product for start-up companies, and small and medium-sized enterprises (SMEs). You will learn about idea generation and the evaluation processes in product development by using an idea generation model and online resources like Google Trends and Amazon. You will use methods to evaluate your product concept through market segmentation, growth potential, and the competition to your product. You will also evaluate a supplier and the cost to your product by analyzing component prices and production rates. By the end of this project, you will be able to create a full retrospective plan for the product launch and understand how and why the specifications are done.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Strong for those interested in starting their own business, particularly those who wish to develop new products

Well suited for small to medium sized business owners who want to develop new products

Useful for entrepreneurs who want to quickly create new products without having to spend a lot of money

Could be helpful for those who are considering launching their own SME or startup

Useful for students who are interested in business, entrepreneurship, and product development

Provides a good foundation for those who are new to product development

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Reviews summary

Well-received product development course

Learners say New Product Development for Small Businesses and Start-Ups is well received. According to students, this course provides engaging assignments and a clear framework for new product development. Many report that this course is suitable for absolute beginners who have little experience in this area. Students especially appreciate the SCAMPER technique for refining customer feedback, as well as the emphasis on physical products rather than digital products.

Suitable for those with little to no experience.

"The course is a good foundation for those wanting to learn the general steps for product development."

"As a beginner, this helped me appreciate the concept of launching your product considering the competition and improving your's to be marketable."

"This project is great. especially for undergraduates or anyone who did not have prior experience in new product development."

Effective technique for refining customer feedback.

"SCAMMPER techniques are very useful thanks for the insightful learning"

"this has been very helpful. SCAMPER is now my go-to guide"

"For converting voice of customer into product specification SCAMMPER techniques are very useful thanks for the insightful learning "

Some learners experienced downloading and accessibility issues.

"I found some problems downloading the files."

"This was freaking HIDEOUS!!! A complete waste of money and time!!! And surprise surprise....no certificate...!"

"If you have hearing loss, it is difficult to understand and the captions don't really help at all."

Limited theoretical foundation and supportive materials.

"Very hands-on course, but only focussed on B2C, not B2B. Also, course material is not very professional."

"This guided project could be improved if the proper explanation of methodology was presented especially for beginners."

"The course has a lack of examples and theory concept. Once you start learning about the first product development technique, you will immediately ask yourself, What is this?"

Course materials primarily geared towards physical products.

"Very hands-on course, but only focussed on B2C, not B2B."

"This project is great. especially for undergraduates or anyone who did not have prior experience in new product development.One thing to keep in mind is that this course is quite focused on physical product and not digital product."

"The project is too good for physical products, but not so much for digital products."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in New Product Development For Small Businesses and Start-Ups with these activities:

Learn about product costing and pricing

Show steps

Learn about product costing and pricing to understand the financial aspects of product development.

Browse courses on Product Costing

Show steps

Review online tutorials and articles on product costing and pricing.
Attend a workshop or webinar on product costing and pricing.
Practice calculating product costs and pricing using online tools.

Find a mentor in the product development field

Show steps

Find a mentor in the product development field to provide guidance and support throughout the course.

Browse courses on Product Development

Show steps

Attend industry events and meetups to connect with potential mentors.
Reach out to product development professionals on LinkedIn or other professional networking sites.
Ask for introductions from friends and colleagues.

Review techniques for product development

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Review and practice product development techniques to build a foundation for the course.

Browse courses on Product Development

Show steps

Read articles and watch videos on product development techniques.
Complete online tutorials on product development tools and processes.
Attend a workshop or webinar on product development.
Practice creating product concepts and prototypes.

Four other activities

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Show all seven activities

Develop a product concept and prototype

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Create a product concept and prototype to demonstrate understanding of the course material.

Browse courses on Product Development

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Identify a product idea and define the target market.
Research the competition and market trends.
Develop a product concept and specifications.
Create a product prototype.
Test the product prototype with potential users.

Analyze product case studies

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Analyze product case studies to learn from real-world examples of product development.

Browse courses on Product Analysis

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Read and analyze product case studies from successful companies.
Identify the key factors that contributed to the success or failure of the product.
Discuss the case studies with classmates or a mentor.

Volunteer with a product development organization

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Volunteer with a product development organization to gain hands-on experience and support the community.

Browse courses on Product Development

Show steps

Research product development organizations in your area.
Identify organizations that align with your interests.
Contact the organizations and offer your volunteer services.
Assist product development teams with their projects.

Participate in product development hackathons or competitions

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Participate in product development hackathons or competitions to showcase skills and learn from others.

Browse courses on Product Development

Show steps

Research upcoming product development hackathons or competitions.
Form a team or work independently.
Develop a product concept and prototype within the competition deadline.
Present the product concept and prototype to a panel of judges.

Career center

Learners who complete New Product Development For Small Businesses and Start-Ups will develop knowledge and skills that may be useful to these careers:

Product Manager

Product Managers lead efforts to design, build, and launch new products and features. Many companies look for Product Managers with a deep understanding of the product development lifecycle and a strong track record of success. This course helps aspiring Product Managers learn about the processes involved with new product development. The course will be particularly useful for those looking to develop a better understanding of idea generation and evaluation, market segmentation, and cost analysis.

See salaries and explore the career path for Product Manager

Innovation Consultant

Innovation Consultants typically work for consulting firms, helping organizations develop and implement new products and services. They play a key role in helping businesses stay ahead of the competition and identify new opportunities for growth. Many Innovation Consultants have a background in product development. This course can be helpful for Innovation Consultants by providing them with a deep understanding of the product development lifecycle and the latest best practices. It is especially helpful for consultants who do work for small to mid-sized businesses.

See salaries and explore the career path for Innovation Consultant

Marketing Manager

Marketing Managers develop and implement marketing campaigns to promote products and services. Marketing Managers with a strong understanding of product development are well-positioned to create campaigns that resonate with target audiences. This course can help aspiring Marketing Managers understand the product development process and how it can be used to inform marketing efforts. Course topics on idea generation and evaluation, market segmentation, and competition analysis would be especially relevant to marketing professionals.

See salaries and explore the career path for Marketing Manager

Operations Manager

Operations Managers oversee the day-to-day operations of a business and ensure that products and services are produced efficiently and effectively. A deep understanding of the product development process can be very valuable for Operations Managers, since it can help them to identify and address potential bottlenecks and inefficiencies. Course topics on cost analysis and supply chain management would be particularly relevant to Operations Managers.

See salaries and explore the career path for Operations Manager

Product Developer

Product Developers are responsible for overseeing the entire product development lifecycle, ensuring that products are brought to market on time, within budget, and to the highest quality standards. Product Developers with experience in smaller companies may need to wear many hats, so a broad knowledge of product development is very valuable. This course can help aspiring Product Developers learn about the various phases of product development and the best practices for each phase.

See salaries and explore the career path for Product Developer

Entrepreneur

Entrepreneurs start and run their own businesses. Many entrepreneurs launch businesses based on new products or services. This course can help new entrepreneurs understand the process of developing a new product, including idea generation, evaluation, and market research. Course topics on cost analysis and supply chain management would also be very relevant to new business owners.

See salaries and explore the career path for Entrepreneur

Design Engineer

Design Engineers use their knowledge of engineering principles to design and develop new products. Design Engineers typically work closely with Product Developers and other members of the product development team. This course can be helpful for Design Engineers by providing them with a deep understanding of the product development lifecycle and the latest best practices. It is especially helpful for design engineers who work for smaller companies or startups.

See salaries and explore the career path for Design Engineer

Sales Manager

Sales Managers oversee the sales team and develop strategies to increase sales and revenue. Sales Managers with a strong understanding of product development are better able to communicate the benefits of their products and services to customers. This course can help aspiring Sales Managers learn about the product development process and how it can be used to support sales efforts. Course topics on market segmentation and competition analysis would be especially relevant to Sales Managers.

See salaries and explore the career path for Sales Manager

Financial Analyst

Financial Analysts help businesses make informed financial decisions. This course may be helpful for Financial Analysts who want to develop a better understanding of the product development process. Course topics on cost analysis and supply chain management would be particularly relevant.

See salaries and explore the career path for Financial Analyst

Business Analyst

Business Analysts help businesses improve their operations and make better decisions. This course may be helpful for Business Analysts who want to develop a better understanding of the product development process. It can also help Business Analysts who work with small businesses or startups, as the course focuses on the challenges and opportunities faced by these types of organizations.

See salaries and explore the career path for Business Analyst

Market Research Analyst

Market Research Analysts conduct research to help businesses understand their customers and make better decisions. This course may be helpful for Market Research Analysts who want to develop a better understanding of the product development process and how it can be used to inform market research efforts. Course topics on idea generation and evaluation, market segmentation, and competition analysis would be especially relevant to Market Research Analysts.

See salaries and explore the career path for Market Research Analyst

Project Manager

Project Managers oversee projects and ensure that they are completed on time, within budget, and to the highest quality standards. This course may be helpful for Project Managers who want to develop a better understanding of the product development process. It can also help Project Managers who work with small businesses or startups, as the course focuses on the challenges and opportunities faced by these types of organizations.

See salaries and explore the career path for Project Manager

Quality Assurance Analyst

Quality Assurance Analysts ensure that products meet quality standards. This course may be helpful for Quality Assurance Analysts who want to develop a better understanding of the product development process. It can also help Quality Assurance Analysts who work with small businesses or startups, as the course focuses on the challenges and opportunities faced by these types of organizations.

See salaries and explore the career path for Quality Assurance Analyst

Software Engineer

Software Engineers design, develop, and test software applications. This course may be helpful for Software Engineers who want to develop a better understanding of the product development process. It can also help Software Engineers who work with small businesses or startups, as the course focuses on the challenges and opportunities faced by these types of organizations.

See salaries and explore the career path for Software Engineer

Data Analyst

Data Analysts collect, analyze, and interpret data to help businesses make better decisions. This course may be helpful for Data Analysts who want to develop a better understanding of the product development process. It can also help Data Analysts who work with small businesses or startups, as the course focuses on the challenges and opportunities faced by these types of organizations.

See salaries and explore the career path for Data Analyst

Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in New Product Development For Small Businesses and Start-Ups.

The Startup Owner's Manual

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Provides a comprehensive guide to starting and running a successful startup.

New Product Development For Small Businesses and Start-Ups

What's inside

Syllabus

Good to know

Save this course

Reviews summary

Well-received product development course

Activities

Career center

Reading list

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