- Course Title
- New Product Idea? Go From Concept to Commercialization
Imagine your name behind a hot new product or service. This class, taught by invention expert Louis Foreman, gives you step-by-step instructions on defining, developing, and protecting your new product idea as well as the how to’s on taking it to the marketplace. Discover how to turn your creativity into a hit with consumers.
Upon successful completion of this course, the student will:
- Evaluate the marketability of their idea
- Understand the financial requirements for a new product
- Know the steps involved in taking a new product to the marketplace
- Develop a plan for launching their new product
- Opportunity Analysis
- What is the product and what makes it unique?
- Who is the customer?
- Will customers buy it?
- Financial Modeling
- How much does it cost?
- How many units can you sell?
- Product Research and IP Review
- Are there similar products? (Direct competition)
- What other options meet the same basic needs (Indirect competition)
- Patent Review
- Sketching out the product
- Final design
- Will it work?
- Preliminary prototype (proof of concept)
- Final engineering and design
- Final prototype
- Engineering Documentation
- Sourcing and Manufacturing Research
- Distribution channel analysis
- Final Preparation
- Brand development
- Package design
- Web development
- Advertising and PR
- Product Launch
Method of Instruction
- Exam: No
- Demonstration of Skills: Yes
- Class participation: Yes