Training on Product Development

Business Development, Training

Start date

09/12/2019

End date

13/12/2019

Overview

About the course

The need to develop increasingly flexible and responsive financial products constitutes perhaps the most compelling challenge facing the banking industry today.

This 5 days course covers all the necessary knowledge, principles and lessons learned on how to develop effective products that provide your organization with a competitive advantage with your customers in today’s very competitive market landscape

Target Participants

This course is recommended for Product Development teams, Product Managers, Finance Managers, Credit Managers, OperationsManagers and Business Development Executives.

Course duration

5 days

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued with a certificate.

Tailor-Made Course

We can also do this as tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations and tailor made needs.

Payment

The training fee covers tuition fees, learning materials, and training venue. Accommodation and airport transfer are arranged for our participants upon request.

Payment should be sent to our bank account before start of training and proof of payment sent to: [email protected]

What you will learn

Course Outline

What is Product Development?

  • The characteristics of a finance product
  • The difference between a new and refined product
  • Definition of a process of product development

Product Development – An Overview

  • The importance of product development to an organization’s strategy
  • The steps involved in a systematic product development process
  • Identification of the optimum product development team

Product Ideation

  • Product idea generation
  • Sources of ideas
  • Evaluation of ideas

Market Research

  • Market research and its importance to product development
  • Market research approaches
  • Developing a research problem
  • Data Sources and Data Collection Methods in Market Research
  • Analysis of research findings

Product Concept and Design

  • Product design process
  • Product design types
  • Factors affecting product design
  • Using market research results to design product prototypes

Product Pricing

  • Factors that influence pricing
  • Pricing strategies
  • Determining the price for a new product
  • Collecting feedback on pricing

Risk Management in Product Development

  • Main types of risks during product development
  • Risk Management Planning
  • Risk Response Strategies

Product Testing

  • Importance of product pilot testing
  • Steps in product pilot testing

Product Market Testing

  • Objectives of market testing
  • Product prototype
  • Test Marketing Process

Product Launch

  • Planning for product launch
  • Key variables in product roll out
  • Successfully launching the product
  • Post- launch evaluation