New Product Development Specialist

1 week ago

Mumbai, Maharashtra, India Sunbeam Merchantile Ventures Full time

Sunbeam Ventures is India's leading builder and importer of iconic brands from across the globe. Our forte entails curating quintessential experiences in the CPG (CPG - Consumer Products and Goods) space across a wide range of categories, including gourmet food, beverages, confectionery, home care, personal care and more.

We are seeking a dynamic and innovative New Product Development (NPD) Manager to lead the end-to-end process of developing and launching new products. The ideal candidate will collaborate with cross-functional teams to identify market opportunities, conceptualize new products, oversee design and development, and ensure successful product launches.

Key Responsibilities & Performance Metrics:

1. Product Innovation & Strategy

KRA:

·       Identify and develop innovative product concepts that align with market trends and business objectives.

·       Identify new product opportunities based on market trends, customer insights, and competitive analysis.

·       Develop and manage the product roadmap, ensuring alignment with business goals.

·       Conduct feasibility studies, risk assessments, and cost-benefit analyses for new product ideas.

KPI:

  • Number of new product ideas generated and validated per quarter.
  • Percentage of new products aligned with customer needs and market demand.
  • Benchmarking of innovation against competitors.
  • Market share growth from newly launched products.

2. Product Development & Execution

KRA:

·       Oversee the entire product development lifecycle, from ideation to commercialization.

·       Work closely with R&D, design, engineering, and manufacturing teams to develop and refine prototypes.

·       Ensure new products meet quality, regulatory, and compliance standards.

KPI:

  • Number of new products successfully developed and launched within the planned timeline.
  • Percentage of product designs meeting predefined quality and compliance standards.
  • Cost efficiency of product development (budget vs. actual expenditure).
  • Compliance with quality and regulatory standards.

3. Project Management

KRA:

·       Develop and manage project timelines, budgets, and resource allocation.

·       Coordinate with cross-functional teams, including marketing, sales, and supply chain, to ensure seamless execution.

·       Identify and resolve bottlenecks or challenges in the development process.

KPI:

  • Percentage of projects completed within the scheduled timeline.
  • Number of project roadblocks identified and resolved proactively.
  • Resource utilization efficiency across teams.

4. Market Research & Consumer Insights

KRA:

·       Conduct market research to understand customer needs, preferences, and pain points.

·       Analyze competitor products and pricing strategies to position new products effectively.

·       Collaborate with marketing teams to develop branding, messaging, and go-to-market strategies

KPI:

  • Frequency of market research reports and insights shared with stakeholders.
  • Number of consumer insights gathered through surveys, focus groups, or analytics.
  • Percentage of product concepts backed by market research.
  • Improvement in customer satisfaction scores for new product launches.

5. Commercialization & Go-to-Market Strategy

KRA: Collaborate with marketing and sales teams for successful product launches.

KPI:

  • Time-to-market efficiency (idea-to-launch timeline).
  • Percentage increase in sales revenue from new products.
  • Adoption rate and market penetration of newly launched products.

6. Post-Launch Performance & Continuous Improvement

KRA:

·       Track product performance post-launch and gather feedback for improvements.

·       Optimize product features and functionalities based on customer feedback and market trends.

·       Ensure continuous innovation and improvement of existing product lines.

KPI:

  • Customer feedback and satisfaction scores.
  • Return on Investment (ROI) for new products.
  • Percentage of product enhancements made based on post-launch analysis.

7. Compliance & Quality Management

KRA: Ensure new products meet industry regulations and company quality standards.

KPI:

  • Number of compliance issues or product recalls.
  • Percentage of products passing quality checks without rework.
  • Reduction in defects or warranty claims.

8. Team Leadership & Collaboration

KRA: Lead and coordinate with cross-functional teams to ensure seamless product development.

KPI:

  • Employee engagement and team productivity scores.
  • Number of successful cross-team collaborations.
  • Training sessions conducted for knowledge sharing.

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