Marico is hiring New Product Development Executive 2024 | Apply Now
Role: New Product Development Executive
Company: Marico
Experience: 4 – 9 years
Salary: 6-11 Lacs P.A.
Location: Mumbai (All Areas)
About Marico Company
Marico was first listed in the Indian inventory trade in 1996. 1974 – Harsh Mariwala installed a branded country-wide distribution network for Parachute. 1990 – Marico changed into set up in India. 1991 – Marico released Hair & Care, a non-sticky hair oil.
New Product Development Executive Description
A New Product Development (NPD) Executive performs a crucial function in riding the innovation and boom of an enterprise by using way of fundamental improvement of new products from idea to marketplace release. This characteristic requires a mixture of strategic vision, technical know-how, and marketplace perception to make sure that new products meet client desires and gain commercial success. This document affords an in-depth look at the function of an NPD Executive, outlining their obligations, required qualifications, and professional growth trajectory within the product development place.
Educational Background:
A bachelor’s degree in Business Administration, Marketing, Engineering, or a related discipline is usually required.
An MBA or a master’s diploma in Product Management, Innovation, or an associated subject can be fine.
Professional Experience:
Several years of experience in product development, product management, or an associated area, with a demonstrated song report of successful product launches.
Experience in project control and crew management is particularly valued.
Technical Skills:
Market Research: Proficiency in market research techniques and gear to gather and analyze market statistics.
Project Management: Strong venture control skills, which include enjoying challenge control software and methodologies (e.g., Agile, Scrum).
Product Design: Knowledge of product layout standards and experience with design gear and software.
Soft Skills:
Strategic Thinking: Ability to broaden and implement powerful product techniques that align with enterprise objectives.
Communication: Excellent verbal and written conversation talents to articulate product visions and collaborate with go-functional groups.
Leadership: Strong leadership and group management skills to guide mission teams and power product improvement tasks.
Analytical Skills: Ability to investigate facts and marketplace tendencies to make knowledgeable choices and recommendations.
Career Development and Opportunities
A career as a New Product Development Executive offers numerous possibilities for growth and advancement in the product development area.
Entry-Level Positions:
Product Development Coordinator: Assist with the making plans and execution of product development sports, gaining foundational enjoyment inside the field.
Product Analyst: Focus on marketplace research and records analysis to aid product improvement efforts.
Mid-Level Positions:
Product Manager: Take on extra obligation for managing product development tasks and leading cross-purposeful teams.
Senior Product Manager: Oversee multiple product improvement tasks and mentor junior team members.
Senior-Level Positions:
Director of Product Development: Led the product improvement branch, overseeing approach, planning, and execution for all product projects.
Vice President of Product Development: Drive the overall product improvement strategy, operating closely with executive management to align product efforts with enterprise desires.
Executive Positions:
Chief Product Officer (CPO): Lead the business enterprise’s product strategy and development efforts, making sure that all product tasks help the enterprise’s vision and increase objectives.
Chief Innovation Officer (CIO): Focus on driving innovation and new product development throughout the business enterprise, fostering a lifestyle of creativity and non-stop improvement.
New Product Development Executive Role and Responsibilities
Strategic Planning and Market Research:
Market Analysis: Conduct thorough marketplace research to pick out patron needs, market developments, and competitive panorama.
Product Strategy: Develop product techniques and roadmaps that align with the organization’s employer goals and marketplace possibilities.
Business Case Development: Create unique business cases for new product ideas, together with marketplace evaluation, economic projections, and chance assessments.
Product Conceptualization and Design:
Idea Generation: Lead brainstorming periods and workshops to generate innovative product thoughts.
Concept Development: Refine product standards through iterative layout methods, which include patron remarks and prototype trying.
Technical Specifications: Collaborate with engineering and layout groups to make bigger precise technical specs and design documents.
Project Management:
Project Planning: Develop assignment plans, timelines, and budgets for trendy product development initiatives.
Cross-Functional Coordination: Coordinate with move-beneficial groups, together with R&D, advertising and marketing, earnings, and production, to make certain seamless product improvements.
Milestone Tracking: Monitor challenge development, control risks, and make sure that key milestones are completed on time and interior fee range.
Product Development and Testing:
Prototyping: Oversee the improvement of prototypes and manipulate iterative trying-out cycles to refine product designs.
Quality Assurance: Ensure that merchandise meets quality requirements and regulatory necessities via rigorous trying out and validation.
Feedback Integration: Collect and combine feedback from stakeholders, collectively with customers, to decorate product designs and functions.
Market Launch and Commercialization:
Go-to-Market Strategy: Develop and execute bypass-to-market strategies, collectively with pricing, positioning, and distribution plans.
Launch Planning: Plan and coordinate product launches, which consist of advertising and advertising and marketing campaigns, sales education, and promotional sports activities.
Performance Monitoring: Monitor product universal overall performance put up-launch, analyzing sales information, consumer remarks, and market developments to inform future product development efforts.
Qualifications and Skills
To excel as a New Product Development Executive, candidates must very own a mixture of tutorial credentials, expert experience, and unique skills.
New Product Development Executive
A profession as a New Product Development Executive is dynamic and profitable, imparting professionals the possibility to make an extensive impact on their business enterprise’s boom and fulfillment. This position calls for a strategic attitude, robust technical and market expertise, and the capability to guide pass-purposeful teams efficiently. With a clear route for a professional boom, NPD Executives can strengthen senior and govt positions, shaping the product techniques in their companies and riding commercial enterprise innovation.
Whether you are starting your profession or seeking to strengthen within the product improvement area, the function of a New Product Development Executive affords a sturdy basis and numerous opportunities inside the ever-evolving world of innovation and product management.
Apply Now: New Product Development Executive
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