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SBX7335

Course
SBX7335
Course Title
New Product Idea? Go From Concept to Commercialization

Description

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.

Objectives

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

Content

  1. Opportunity Analysis
    • What is the product and what makes it unique?
    • Who is the customer?
    • Will customers buy it?
  2. Financial Modeling
    • How much does it cost?
    • How many units can you sell?
  3. Product Research and IP Review
    • Are there similar products? (Direct competition)
    • What other options meet the same basic needs (Indirect competition)
    • Patent Review
  4. Ideation
    • Sketching out the product
    • Final design
  5. Engineering
    • Will it work?
    • Preliminary prototype (proof of concept)
    • Final engineering and design
    • Final prototype
  6. Engineering Documentation
  7. Sourcing and Manufacturing Research
    • Distribution channel analysis
  8. Final Preparation
    • Brand development
    • Package design
    • Web development
    • Advertising and PR
  9. Product Launch

Prerequisites

No

Method of Instruction

Lecture

Evaluation

  • Exam:  No
  • Demonstration of Skills:  Yes
  • Class participation:  Yes