Research Methodologies in Strategy and Product Development

Professional Diploma in Research Methodologies in Strategy and Product Development by MTF Institute

Created by: MTF Institute of Management, Technology and Finance
Institute of Management, Technology and Finance

What Will I Learn?

• Introduction to Strategy and Product Development
• Introduction to Human-Centric Innovation
• Understanding Actionable insignts
• Human-centered design thinking
• Data collection techniques for strategic insights
• Qualitative research methods in product development
• Quantitative research approaches for strategy formulation

Requirements

• For a better learning experience, we suggest you to use a laptop / mobile phone / pen and paper for taking notes, highlighting important points, and making summaries to reinforce your learning.

Target audience

• No special requirements. A course for anyone who wants to build career in Strategy and Product Development
• Course goals: Equip with knowledge and skills for effective decision making Emphasise human-centric innovation and actionable insights Multidisciplinary approach for innovation and product development
• What are Research Methodologies in Strategy and Product Development? Research methodologies in strategy and product development are the structured approaches and tools used to gather, analyze, and interpret information supporting strategic plans and product creation. They ensure that decisions are rooted in evidence and customer needs, rather than assumptions.
• Main Focuses of Research Methodologies in Strategy and Product Development Market Research: Understanding the size, trends, competitors, and opportunities within a specific market or industry. Customer Research: Investigating the needs, pain points, behaviors, and preferences of your target audience. Competitor Analysis: Evaluating the strengths, weaknesses, strategies, and market share of competitors. Trend Analysis: Identifying emerging patterns, technologies, or customer preferences that could shape the future. Internal Analysis: Examining a company's strengths, weaknesses, capabilities, and resources to inform strategy. Product Concept Testing: Gathering feedback on proposed product ideas early in the development process. Usability Testing: Assessing how easy and intuitive a product is for users.
• Why is Learning Research Methodologies Important for Companies? Reduced Risk: Data-driven decisions significantly minimize the chance of costly mistakes. Customer-Centricity: Aligns strategies and product features directly with validated customer needs, improving satisfaction. Competitive Advantage: Uncovers market gaps, competitor vulnerabilities, and potential areas for differentiation. Innovation: Fosters a culture of experimentation, validating ideas prior to significant investment. Increased ROI: Improved decision-making leads to higher returns on product development and strategic initiatives.
• How Can Research Methodologies Support Career Building? Demand: Companies are actively seeking professionals skilled in market, customer, and competitive analysis. Versatility: These skills translate across industries and roles within organizations. Strategic Thinking: You'll develop the ability to see the 'big picture' and make informed recommendations. Data-Driven Approach: Your ideas will be backed by credible evidence, increasing your influence and credibility. Leadership Potential: Those who can understand market trends and customer needs often become highly sought-after for management and executive positions.