New Product Development - develop your own new product from Coursera

New product development is essential for the survival of many companies in the Hi-Tec sector, as well as other sectors.

The percentage of sales of successful business organizations tied to the successful Introduction of new products and services is high. However, the failure rate of new products development projects is also high and therefore there is a need for a methodology based on a well-designed process as well as tools and techniques to manage New Product Development (NPD) projects. Since most companies develop new products, it is important to you as a manager to be familiar and understand the basic concepts and terminology of NPD projects.

This course will give you holistic view of the new product development arena and will help you gain specific knowledge in how to select, plan, monitor and control a new product development project, using the proper tools and techniques.

Upon completion of this MOOC, you will:

1. have a clear view and understanding of the New Product Development (NPD) arena

2. be able to select the right product configuration based on value (Voice of the customer), cost, time to market and risks.

3. be able to develop a feasible plan for your own product.

4. be able to execute your plan in an uncertain dynamic environment using the right tools and techniques.

As part of the course the learners are required to purchase a discounted license for the Product Team Builder Simulator (http://www.sandboxmodel.com/), which is used for training and assignment submission. Please notice the simulator can only be used with Internet Explorer from a Windows computer.

What's inside

Syllabus

Module 1

1. Introduction with the course and an overview of the course, the instructor and the course team and guests

Module 2

Module 3

Module 4

Module 5

Module 6

Module 7

Module 8

Module 9

Module 10

Module 11

Interviews

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches systematic approach and management of new product development, valuable for managers in Hi-Tec and other sectors

Provides a holistic view of the new product development arena, building a strong foundation for learners

Involves the use of the Product Team Builder Simulator, offering hands-on training experience

May require students to purchase additional software, posing potential cost barriers for some

Assumes familiarity with basic product development concepts, which might not be suitable for complete beginners

Focuses primarily on the Hi-Tec sector, which may limit its applicability to other industries

Reviews summary

New product development course

According to students, New Product Development is a valuable course that is praised for its engaging assignments and practical exercises. Learners say that the course provides a comprehensive introduction to new product development, and particularly value the use of simulations like PTB simulator to reinforce learning. A common complaint is that learners need to purchase additional software to complete the course.

Learners find PTB simulator valuable.

"Overall course content is great.PTB simulator is Very useful."

"PTB simulator is Very useful."

Course content is comprehensive.

"Very informative ."

"Good Explanations and Introduction to New Software and Ideas"

"It is good course to improve our knowledge and make product and start business"

Students enjoy practical exercises.

"Chalenging Exercices and assignments"

"The practical excercises are much better, they put some meat on the bones."

Required software purchase mentioned.

"You need to pay for a software to conclude it,"

"I don't have money to purchase a program to take the course"

"It's not transparent during signup that separate simulator needs to be purchased from a third party site to complete this course. "

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 - develop your own new product with these activities:

Attend Industry Conferences

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Expand your network and gain insights into industry trends and best practices.

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Identify relevant industry conferences
Register and attend conferences
Connect with industry experts and potential collaborators

Create a Resource Repository

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Organize and consolidate relevant materials and resources to facilitate efficient research and development.

Browse courses on Resource Management

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Gather articles, research papers, and other relevant resources
Organize and categorize resources in a central location
Maintain and update the resource repository as needed

Conduct Market Research

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Refine your market research skills to better understand customer needs and market trends.

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Design and conduct surveys, interviews, or focus groups
Analyze and interpret market research data
Develop product concepts based on market research insights

Five other activities

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Show all eight activities

Participate in Design Thinking Workshops

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Develop your design thinking abilities to enhance your problem-solving and ideation skills.

Browse courses on Design Thinking

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Identify and register for design thinking workshops
Participate actively in workshop activities
Apply design thinking principles to your own projects

Create a Product Development Plan

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Develop a comprehensive Product Development Plan to outline and track your project execution.

Browse courses on Product Management

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Define product goals and objectives
Identify and analyze market opportunities
Develop a product roadmap and timeline
Establish a budget and resource allocation
Identify key milestones and deliverables

Review Value Management

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Review Value Management techniques to help you critically assess product value and its contribution to customer satisfaction and business success.

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Read articles and books on Value Management
Review case studies on successful product development projects that employed Value Management
Practice Value Management techniques on a personal project or hobby

Learn Axiomatic Design Principles

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Explore Axiomatic Design principles to strengthen your understanding of functional requirements and design independence.

Browse courses on Product Development

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Watch videos and tutorials on Axiomatic Design
Apply Axiomatic Design principles to a personal product design project
Participate in online forums and discussions on Axiomatic Design

Read 'The Innovator's Dilemma'

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Gain insights into the challenges faced by established companies in innovating and disrupting their own markets.

View The Disruptive Innovation Set (2 Books) on Amazon

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Read the book and take notes
Summarize key concepts and examples
Apply the lessons to your own product development strategy

Career center

Learners who complete New Product Development - develop your own new product will develop knowledge and skills that may be useful to these careers:

Product Developer

Product Developers are involved in all aspects of new product development, from ideation and concept development to product launch and evaluation. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Product Developer

Product Manager

Product Managers are responsible for the overall success of a product, from concept to launch and beyond. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a comprehensive understanding of the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Product Manager

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns that promote and sell products and services. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Marketing Manager

Data Scientist

Data Scientists are responsible for analyzing and interpreting data. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Data Scientist

Mechanical Engineer

Mechanical Engineers are responsible for designing and developing mechanical products. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Mechanical Engineer

Market Research Analyst

Market Research Analysts are responsible for conducting market research to understand customer needs and preferences. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Market Research Analyst

Electrical Engineer

Electrical Engineers are responsible for designing and developing electrical products. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Electrical Engineer

Industrial Designer

Industrial Designers are responsible for designing and developing products. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Industrial Designer

Innovation Manager

Innovation Managers are responsible for driving innovation within their organizations. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Innovation Manager

Computer Scientist

Computer Scientists are responsible for designing and developing computer software. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

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Sales Manager

Sales Managers are responsible for leading and motivating sales teams to achieve sales goals. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Sales Manager

Entrepreneurship

Entrepreneurs are individuals who start and run their own businesses. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

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Operations Manager

Operations Managers are responsible for overseeing the day-to-day operations of a business. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a comprehensive understanding of the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Operations Manager

Business Development Manager

Business Development Managers are responsible for identifying and developing new business opportunities for their companies. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Business Development Manager

Financial Analyst

Financial Analysts are responsible for analyzing and interpreting financial data. This course would provide you with the knowledge and skills you need to succeed in this role, giving you a solid foundation in the NPD process, as well as the tools and techniques to manage NPD projects effectively.

See salaries and explore the career path for Financial Analyst