why this course? international product development

A great reason to study international development is that you are taught by some of the leading experts in development theory and practice. As international development covers many fields, students on international development courses learn from leading practitioners across many subjects.

Full Answer

What is the scope of the new product development course?

This course will give you holistic view of the new product development arena and will help you gain specific knowledge in how to select, plan, monitor and control a new product development project, using the proper tools and techniques.

Why international development and Global Studies?

Why International Development and Global Studies? International Development and Globalization issues are of major importance in today's world. Nations impact on each other on many levels (economics, political, sociological) that shape everyday life all over the world.

What is a product development plan and why is it important?

Not to be confused with a project plan, a product development plan encompasses the overarching journey from idea to market. It should include and engage as many stakeholders as possible to ensure all of their specific needs, requirements, and concerns are being considered (if not addressed).

Why should you take online courses on product development?

Taking online courses on product development can also provide richer knowledge about product improvement processes, like mapping the customer journey, learning how and why customers are using certain features in a product, and how to respond accordingly. This FAQ content has been made available for informational purposes only.

Why is learning new product development important?

Why is New Product Development necessary? NPD is the driving force of companies and vital for their organic growth. Insatiable consumer appetite, strong worldwide competition, changing consumer behaviour and technology, force companies to invest in new products to succeed or for their survival.

What is the purpose of product development process?

The product development process describes the six steps needed to take a product from initial concept to final market launch. This includes identifying a market need, researching the competition, ideating a solution, developing a product roadmap, and building a minimum viable product (MVP).

What is product development study?

What is product development research? Product development research is the process of finding out how the product or feature you're currently working on is progressing, whether there are any changes in your target audience's needs and whether you need to make any adjustments to the product.

What is product development elaborate your answer?

Product development typically refers to all stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product's entire journey.

What are the benefits of product development?

Developing new products provides a means to target new markets, increase market share, sell more and increase revenue streams. Meanwhile redesigning existing products enables costs to be cut, margins to be increased and ultimately more profits to be made.

What is importance of product?

Product is the centre of all marketing activities, Without a product, marketing cannot even be imaged. Good products are the key to market success. Product decisions are taken first by the marketers and these decisions are the centre to all other marketing decisions, such as price, promotion, distribution etc.

What is an example of product development?

Following are some common examples of product development. Packing wheat flour in retail bags for household consumption. Packing cooking oil in retail pouches for household consumption. Converting land line phones into wireless handsets for easy portability and full-time access to communication.

How product development is different?

The difference between research and development and product development is that research and development is the conception phase in the product life cycle, while product development is the entire process of designing, creating, and marketing new products or existing products with new features.

How do you become a product developer?

If you don't have relevant experience or want to improve your skills, there are a number of resources available.Seek a learning opportunity in your current role. ... Meet real product managers to build your network. ... Learn a PM mindset by reading books and blogs. ... Earn a degree or certification.

What is the importance of product in the development of marketing strategy?

New product development helps companies diversify target customer ranges and expand into new market segments. When you're ready to launch a new product, a marketing strategy can help you connect your customers to the new products before they are distributed by building interest and excitement around the product.

How do we identify opportunities for new product development explain?

Exploring new-product opportunities involves the generation, development, and evaluation of ideas for new products. The fundamental steps include understanding the needs for new products, discovering existing and potential sources of ideas, describing internal and external requirements, and assessing the opportunities.

What is product development?

Product development is the collective actions and procedures of creating a new product and bringing it to an intended audience. Product development...

Why is it valuable to learn product development?

Learning how to turn an idea into a final product can be very rewarding to a person interested in knowing how products go to market. In learning pr...

What are typical careers that use product development?

Careers that typically use product development include product engineering roles, product development and brand manager roles, quality engineer rol...

How can taking online courses on Coursera help me learn product development?

Learning about product development from online courses on Coursera can help you gain a key understanding of the mechanics of product development, w...

What is Product Development?

Product development is delivering a new good or item to the market or improving the existing products for increasing sales. In the beginning, a product is just a sample. A company needs to put a lot of effort and resources into transforming into something sellable in the market.

Importance of Product Development

Product development is vital for businesses for several reasons, as discussed below. The success of a new product requires a substantial amount of resources to be invested in it. There is always a chance of outright failure. Due to the high risk of failure, it is good to know why you should still invest in a product development plan.

Concluding Remarks

Product development is essential. But what’s even more important is to be able to market the product once it is launched. In this digital age, the most effective marketing means is done online.

What is product development management?

Part of the product development management process is to determine what decisions will be made at what stage of the process. This becomes even more important when your business is global. It’s no longer just a matter of who’s doing what when, but you also have to decide who at which location is making the decisions.

What is global manufacturing?

Global manufacturing: Allows products to compete on a global scale, Uses more sophisticated supply chains, and . Requires a greater supply of goods. Global product development brings with it a number of challenges, including managing a geographically diverse product development team and coordinating sourcing of materials from low, medium, ...

Why is global supply chain important?

The global supply chain can impact your product’s success in a major way, which is why it’s so important to make sure all aspects of your product development are being managed as efficiently as possible. When your firm is doing business globally, you may have part of your supply chain in one country, and a different part in another country.

HOUSING

Students will stay in student housing located on the campus of the National University of Singapore. It is anticipated that each student will have their own private room.

COURSES

The course will be offered through the BYU Mechanical Engineering Department, but is open to any freshman, sophomore, junior, or senior student in the Ira A. Fulton College of Engineering.

PREPARATION

All accepted students are required to register for the Me En 479 course (spring 2022 term). This includes four pre-departure sessions with the program director and ISP personnel held during the first few weeks of the spring term (just prior to departure for Singapore).

FUNDING SOURCES

Regular BYU tuition scholarships, Pell Grants, and Federal Insured Student Loans may be applied to Study Abroad programs.

APPLICATION PROCESS

Complete the online application at kennedy.byu.edu/apply. A nonrefundable $35 application fee is required.

FACULTY

Mark Colton, associate professor of mechanical engineering, will direct the program. The program will be taught by faculty experts from the National University of Singapore, Pennsylvania State University, and BYU.

SCHEDULE AND TIME COMMITMENT

Students must commit to the entire program, including the pre-departure sessions.

About this Course

New product development is essential for the survival of many companies in the Hi-Tec sector, as well as other sectors.

Offered by

The Technion – Israel Institute of Technology is one of the world's top science and technology research universities. The Technion was founded in 1912 and its main campus is located in Haifa, Israel

Module 1

1. Introduction with the course and an overview of the course, the instructor and the course team and guests

What is product development?

Product development typically refers to all stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.

What is the role of implementation teams in product roadmap?

Implementation teams can create schedules, break down significant themes into sprints, and generate iterations of the product. This creates a feedback loop from customers, the sales team, and support, identifying new opportunities, pointing out shortcomings, and shining a light on areas to hone, improve, and expand.

What is agile software development?

This refers to the familiar product development concept we described in the introduction—all steps involved in delivering a product to the market—including agile software development princip les, such as rapid iteration based on user feedback.

How to create a product vision?

It begins with a product vision, which aligns everyone around the shared objective for this product. This is followed by a product mission—the ultimate purpose of the product, who it is for, and what it does for them. Finally, it establishes some guiding principles for the work to come.

Is every problem problematic enough to warrant a product based solution?

Quantifying the opportunity. Not every problem is problematic enough to warrant a product-based solution. However, the pain it causes and the number of people or organizations it impacts can determine whether it’s a worthy problem to solve and if people are willing to pay for a solution (be it with money or their data).

Is product development synonymous with product management?

When you understand product development this way, you can see that it is not synonymous with product management, although many people mistakenly use the terms interchangeably. Indeed, product development does not refer to a single role at all.

What is product development?

Product development refers to the complete process of taking a product to market. It also covers renewing an existing product and introducing an old product to a new market. This includes identifying market needs, conceptualizing the product, building the product roadmap, launching the product, and collecting feedback.

What are the three industries that are considered product development?

The product development cycle will naturally vary by industry, so let’s take a brief look at what you might have to consider across three of the largest and most well-established industries: fashion and apparel; beauty and cosmetics; and food and beverage.

How does product development work in fashion?

In the fashion industry, product development usually begins the old-school way: with a hand-drawn sketch or the digital equivalent made using a program like Procreate. A sketch is then developed into a sample using a pattern maker or seamstress.

How to bring your product idea to market?

Use the following development framework to bring your own product idea to market. 1. Idea generation. Many aspiring entrepreneurs get stuck on the first stage: ideation and brainstorming. This often is because they’re waiting for a stroke of genius to reveal the perfect product they should sell.

What is NPD in product design?

New product development (NPD) is a core part of product design. The process doesn’t end until the product life cycle is over. You can continue to collect user feedback and iterate on new versions by enhancing or adding new features. There’s no one role that does product development.

Why is product validation important?

Product validation ensures you’re creating a product people will pay for. Validation research will also inevitably involve competitive analysis. If your idea or niche has the potential to take up market share, there are likely competitors already operating in that space.

How many steps are there in the new product development process?

The new-product-development process in 7 steps. New product development (NPD) is the process of bringing an original product idea to market. Although it differs by industry, it can essentially be broken down into seven stages: ideation, research, planning, prototyping, sourcing, costing, and commercialization.