Vaibhav Global - Head - Product Innovation (10-15 yrs)

Job Profile:

As the Head of Product Innovation, you will be a strategic leader within our organization, responsible for driving product development and innovation to deliver market-leading solutions that align with our business objectives.

You will oversee the product innovation lifecycle, from identifying trends and generating ideas to
commercializing successful products.

This role requires a visionary thinker with a hands-on approach, creative problem-solving skills, and the ability to lead cross-functional teams to bring new ideas to life.

Your contributions will directly impact the company's growth and position in the market.

Key Responsibilities:

1. Identify Market Opportunities:

- Monitor market trends, customer needs, and the competitive landscape to identify new product opportunities.

- Develop insights on emerging industry trends and consumer behaviors to guide product innovation efforts.

Conduct Research and Analysis:

- Lead comprehensive market research and customer insight analysis to inform product development strategies.

- Utilize competitive intelligence to identify gaps in the market and areas for innovation.

Generate Product Ideas:

- Develop new product concepts, features, and enhancements based on research findings, customer feedback, and technology advancements.

- Evaluate the feasibility, profitability, and market potential of proposed ideas.

Cross-Functional Collaboration:

- Collaborate with buyers, merchandisers, design, manufacturing, and other teams to translate product ideas into viable concepts.

- Develop and execute actionable plans for product development in coordination with stakeholders.

Oversee Product Development:

- Manage the end-to-end product development process, from ideation through to commercialization.

- Define product requirements, specifications, and key performance indicators (KPIs) and ensure adherence to timelines, budgets, and quality standards.

Patent Filing and Management:

- Partner with legal teams to identify and file patents for innovative product concepts.

- Work closely with patent attorneys to ensure IP compliance and protect our intellectual property.

Project Management:

- Drive product development projects, coordinating tasks across teams, monitoring progress, and addressing any issues.

- Maintain detailed project documentation and provide regular updates to stakeholders.

Risk Assessment:

- Identify and assess potential risks and challenges associated with product development initiatives.

- Develop mitigation strategies and contingency plans to ensure successful project delivery.

Performance Tracking and Analysis:

- Track product performance post-launch, collecting and analyzing relevant data to inform continuous improvement.

- Use insights to guide future product development strategies and enhance product performance.

Stakeholder Communication:

- Regularly communicate development updates, project milestones, and outcomes to senior management, marketing, and sales teams.

- Present product proposals and business cases to secure support from key stakeholders.

Promote an Innovation Culture:

- Foster a culture of creativity and innovation, promoting knowledge-sharing and collaboration across departments.

- Identify and implement best practices for product innovation within the organization.

Qualifications:

Education: Bachelor's degree in business, Engineering, or a related field (Master's degree preferred).

Experience: Extensive experience in product management, development, or innovation roles, with a demonstrated track record of successful product launches.

Expertise:

Strong understanding of market research methodologies, competitive analysis, and product development.

Experience with prototyping, testing, and working closely with engineers and designers.

Familiarity with patent filing processes and IP management.

Knowledge of sustainable and ethical practices within the industry is a plus

Skills:

- Exceptional analytical, problem-solving, and strategic thinking skills.

- Proficient in project management, including planning, resource allocation, and risk management.

- Strong communication and presentation skills to engage and align diverse stakeholders.

- Proven ability to lead and motivate cross-functional teams in a collaborative, innovative environment.

- Industry Knowledge: Up-to-date knowledge of emerging technologies, industry trends, and consumer behaviors.

- Results-oriented with strong business acumen and an understanding of the financial implications of product development