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Head of New Product Development

3 months ago

Plymouth, United Kingdom DK Recruitment Full time

JOB PURPOSE

Overall responsible for all product related aspects of the business (positioning, net sales, margin, units, distribution, training). Coordinates New Product Development and actively supports and manages the product throughout its life. Manages the entire product portfolio and is responsible for the various product P&L.

MAIN DUTIES & RESPONSIBILITIES

* Develop and execute a comprehensive product development strategy aligned with the company’s overall business goals

* Monitor market developments and competitors to identify opportunities for growth and optimisation of product positioning

* Responsible for outcome modelling (including projected sales figures) + creation of business requirements for key stakeholders

* Monitor and evaluate the performance of product portfolio (sales, margins, volumes, and forecasts) apply insight to inform and guide the business

* Lead the analysis, reporting and reviews of product portfolio to ensure they remain competitive, fit for purpose, and meet market needs. Continuously identifying areas for improvement, and working collaboratively to deliver any recommended changes

* Collaborate with retailers, commercial and product teams to generate insight, explore opportunities and challenges and develop roadmaps for Vispring across product portfolio

* Based on market research, inputs from the markets, from interior designers, from design trend-setters and from R&D/operations, coordinate New Product Development (NPD).

* Write the product brief, lead the NPD committee, deliver against launch milestones, develop and distribute all the product launch materials.

* Present new products at trade fairs and “sell” them the sales force and to retail partners.

* Constantly analyse the business from a product point of view and take corrective actions (re-position, re-launch, promote, re-train).

* Ensure a constant stream of relevant and value-added innovation (feature, design, quality).

* Understand the requirement of a global business and adapt the product where and when necessary (legal requirements, consumer habits and design/cultural preferences).

* Manage new product launches over time and over the different markets (phase-in/phase-out, staggered launch to keep momentum yet avoid saturation and minimize product obsolescence).

* Look at the product life cycle of each line and pro-actively take corrective measures.

* Optimize the product portfolio to fuel growth of net sales and margin.

* Publish competitive reviews, prepare product fact sheets, write sales arguments and “train the trainer”.

* Manage the NPD budget.

KPIs

* Total net sales and gross margin (75%).

* Product P&L.

* Impact of NPD in terms of net sales and gross margin growth.

* Product obsolescence.

DIRECT REPORTS

* Leadership of the New Product Development Team

QUALIFICATIONS

* University degree or suitable alternative qualifications.

* Min. 5 years of relevant experience in marketing (junior or product manager).

* Good analytical skills and communications skills and very result oriented.

* Experience in project management and working independently.

* Ability to work in a small organization, hands-on and team player.

WORK PLACE & TRAVEL

* Time split between London & Plymouth offices with trips to markets and fairs (max 20%)