Product Planning
About Product Planning
Product
planning is the process of searching for ideas for new products, screening
them systematically, converting them into tangible products, and
introducing the new product to the market. It also involves the
formation of product policies and strategies.
Product planning
includes improvements in existing products as well as the deletion of
unprofitable or marginal products. It also encompasses product design
and engineering which is also called product development. Product
planning comprises all activities starting with the conception of the product idea and ending up with a full-scale introduction of the product
in the market.
Why is Product Planning important?
Product planning is required for the following reasons:
• To replace obsolete products;
• To maintain and increase the growth rate/sales revenue of the firm;
• To utilize spare capacity;
• To employ surplus funds or borrowing capacity; and
• To diversify risks and face competition.
Who should take the Product Planning Exam?
• Product Management professionals
• Entrepreneurs or Innovators
• Anyone who wants to assess their product planning skills
• Product managers and senior executives
• Product Management consultants
• Any professional with skills and knowledge of product planning
Product Planning Certification Course Outline
1. Product Planning - Market Analysis
2. Product Planning - Competitor Analysis
3. Product Planning - - User Requirements Research