From the course: Developing Business Acumen (2016)
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Develop new products
From the course: Developing Business Acumen (2016)
Develop new products
- New products are the lifeblood of an organization's future sales. Some new products are created in R and D, others are created in marketing, or sales. Some companies have an entirely different new product development function. What's the process for creating new products or services in your organization? Who decides what products to launch? What market research is done to support those new product launches? How long does it take to create a new product? Sometimes it's hours, sometimes it's years. How long does it take your organization? How do you protect new products once you get them into the market? Do you have patents or copyrights? Do you use speed to market to protect it? Do you achieve scale or put a brand on the product and build a relationship with your customer? There are all different ways that you can and should protect your product once it goes to market. Some different examples that I've seen include a small internet company where new products were created by the team.…
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