Innovating Products:
Invent, Justify and Market

Why do most new products fail?

The primary reason for failure is often attributed to developing products without sufficient market consideration right from the outset of the innovation process.

When considering a potential new product, innovators frequently focus heavily on its technical aspects, sometimes overlooking the critical need for commercial success in the market.

Therefore, it is crucial for all involved in new product innovation, regardless of their role, to adopt a market-oriented mindset. This approach involves scrutinizing new product ideas from a market perspective, identifying those with genuine market potential, and substantiating their selection with a robust Business Case to justify investment. Additionally, proper market support post-launch is essential for sustaining new products.

This Innovating Products: Invent, Justify and Market training course equips delegates with the skills to innovate with a market-centric approach, select viable product ideas, substantiate their choices with compelling Business Cases, and effectively market their innovations. Adopting this methodology significantly enhances the likelihood of success for new product initiatives.

By the end of this Anderson training course, you will be able to:

• Adopt a market mind-set for innovation
• Influence new product ideas and select products that can succeed commercially
• Ask the right questions in the product development process to improve decision-making
• Construct a credible ‘Business-Case’ for a new product and win support for it
• Create a practical ‘Go to Market Strategy’ for a new product
• Define the ‘New Product Marketing Plan’ and implement it

This Anderson training course is suitable for a wide range of professionals but will greatly benefit:

• New product innovation team members
• Research and development engineers who design new products
• Project managers and product managers who are responsible for new product success
• Product development directors and managers
• Marketing directors, managers and team members involved in marketing new products
• Senior managers who have to evaluate business cases for new products
• Entrepreneurs seeking funding for new products
• People who have to decide on whether or not to finance new product ideas