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Head of Product Innovation

2 months ago

Plymouth, Plymouth, United Kingdom DK Recruitment Full time
Job Title: Head of New Product Development

Job Purpose:

The Head of New Product Development will be responsible for leading the development and launch of new products across the company's portfolio. This role will require strong analytical and communication skills, as well as the ability to work independently and as part of a team.

Main 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 optimization of product positioning.
  • Responsible for outcome modeling (including projected sales figures) and creation of business requirements for key stakeholders.
  • Monitor and evaluate the performance of the product portfolio (sales, margins, volumes, and forecasts) and apply insight to inform and guide the business.
  • Lead the analysis, reporting, and reviews of the product portfolio to ensure they remain competitive, fit for purpose, and meet market needs.
  • Collaborate with retailers, commercial, and product teams to generate insight, explore opportunities and challenges, and develop roadmaps for Vispring across the 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 to the sales force and to retail partners.
  • Constantly analyze 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 requirements 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 proactively 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 communication 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%).