Realizing+the+Opportunity

Realizing The Opportunity
Wednesday, March 28, 2012 <>

Topic overview:
We've figured out what we're going to make, how it's going to work, and who we're going to sell it to. Now we need to bring our great concept to market. At this point the new product development team moves into high gear. Product development and testing are completed, production and operations are set up to deliver the product or service, a support network and capability is set up, and the marketing and sales team moves into action. Then it's showtime and we launch.

Today's we will take a high-level look at these and other steps that need to come together to bring a product from the development stage into your customers hands. There's a lot to pull together and the scope and scale of your organizational effort will rise substantially throughout this final stage.

By the end of class today, you should:
 * Understand of the types of questions that the product innovation team needs to be able to answer to gain approval to move from product concept to product realization
 * Understand the steps and decisions required to bring an innovative new product from the development stage to a new product launch
 * Understand the concept of a business model and be able to explain the key decisions that define the selection of a business model for a new product or service offering

Preparation for class:
There is no preparation required prior to class today. Please use the time you would normally put towards class preparation towards your final project. Remember that your initial review meeting with the instructor needs to occur next week.

There are a number of reference material links that you may find useful for this portion of the final project listed below, however. Although you do not need to review these prior to class, you will likely want to reference them afterwards as you are working on the market analysis and initial development plans for your final project.

Reference materials:
Slides:

Useful resources on product development planning and market analysis can be found in:
 * [CE09] Robert G. Cooper and Scott J. Edgett, Successful Product Innovation - A Collection of our Best, Product Development Institute, 2009. ISBN 978-1-4392-4918-5.
 * Chapter 6, Managing technology development projects
 * Chapter 10, Maximizing productivity in product innovation