Curriculum:

Developing Sustainable New Product Innovation

Learning Objectives:

• Understand the three cornerstones of New Product success:

• Identifying a New Product Strategy
• Having a Structured New Product Development Process
• Ensuring Commitment to Allocate Resources

• Understand the five key steps to generating "Breakthrough" New Product Ideas
• Understand the importance of Brand Equity to the long term success of the New Product
• Understand the New Product Brand Architecture format
• Understand the key elements of a Positioning Statement and be able to develop one for your new product concept
  

• The Big Picture of New Products:
  • Key traits of new product leadership
• Consumer Insights Process:
  • Definition of a Consumer Insight
  • Five phases in the process
• Five key steps to generating New Product Ideas:
  1. Get Focused:
  • Developing “Action Statements” that focuses areas of exploration
  2. Brainstorming:
  • Process and execution techniques
  3. Divergent Thinking - Tools:
     • Used to develop “Breakthrough Ideas” that are different & unexpected
     • Four Pattern Breaking approaches with examples
  4. Converge & Cluster Ideas:
     • Linking Ideas to form “Core Concepts”
     • Developing an “Idea Sheet” to better understand the concept
  5. Develop Core Concept Boards for Consumer Testing

• Brand Equity: What is its impact on the success of New Products?
• Cause-Effect chain of elements to building Brand Equity:
  • Brand perceptions lead to profits
• The New Product Brand Architecture
  • Brand Features & Attributes – Product Benefits – Emotional Benefits – Driving Beliefs – Personality – Essence
• Role of Positioning in New Products:
  • Marketers definition and consumers definition of positioning
• The positioning statement format
• Focusing your Target Audience, selecting your Frame-of-Reference, defining your Leverageable Point-of-Difference, choosing your Consumer End Benefit