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ISM Endorsed Product Strategy and Innovation
DATE
2022-12-14;
LOCATION
To Be Determined;
Why Attend?
An innovation product strategy is a plan to grow market share or profits through product and service innovation. When looking at innovation strategy, it is important to realize that an effective strategy must correctly inform which job executor, job, and segment to target to achieve the most growth, and which unmet needs to fulfil to help customers get the job done better. Also, when it comes to creating the solution, an innovation strategy must indicate whether a product improvement, or a disruptive or breakthrough innovation approach is best. This course provides participants with a full understanding of product strategies and design thinking approaches to help them come up with products that fit customer requirements and aspirations. Business models will be also examined to make things happen along with customer experience (CX) to validate product innovation initiatives and optimize customer expectations.
Course Objectives
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This Course Objective Hasn't Been Provided Yet
Target Audience
The course will be of value to a wide range of marketing, PR, product owners, communications, sales, and operations professionals. It also benefits professionals keen to understand the importance and role of product strategies and innovation and how these can be designed and implemented to ensure revenue growth.
- The “Product” concept
- Product versus Brand Definitions
- The Product and the Marketing Mix
- Product factors influencing competitiveness
- The Product Management role
- The Product Marketing role
- Product Strategy: best practices
- Product strategy: Definition
- The key components of a product strategy
- Product vision/mission
- A framework for Product Strategy
- Vision, Values, Methods, Obstacles, Measures (V2MOM)
- Analyzing Product Opportunities
- Analyzing Jobs-to-be-done (JTBD)
- Evaluating and articulating Product Opportunities
- Crafting Customer Personas
- Product Discovery analysis
- The Discovery hypothesis
- Writing User Stories
- Full product strategy execution:
- Preparing the Market Requirements Document (MRD)
- Preparing the Product Requirements Document (PRD)
- Design Thinking and Product Innovation
- Design Thinking (DT): Definition
- Objectives of Design Thinking
- Benefits of Design Thinking
- Difference between NPD and Design Thinking
- The Design Thinking process
- Understand
- Observe
- Point of view
- Ideate
- Prototype
- Test
- Design Thinking and Product innovation execution blueprint
- The Business Model Canvas and Product Innovation
- Business Model: Definition
- Business Models as disruptive innovation
- Business Model types
- Challenges in Business Model transition
- The Business Model Canvas: Definition
- Elements of the Business Model Canvas
- The Waterfall process
- Agile development
- Customer Experience (CX) and Product Design
- Customer Experience: Definition
- Facts about Customer Experience
- The importance of Customer Experience
- Reasons why Customer Experience is vital
- Crafting Customer Persona
- Creating a Customer Journey Map
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