Job
Description
As the Head of Product Innovation at Vaibhav Global Ltd (VGL), your role will be crucial in driving product development and innovation to deliver market-leading solutions that align with the company's business objectives. You will lead the product innovation lifecycle, from identifying trends and generating ideas to commercializing successful products. Your visionary thinking, hands-on approach, creative problem-solving skills, and ability to lead cross-functional teams will be instrumental in bringing new ideas to life and impacting the company's growth and market position significantly. Key Responsibilities: - 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 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, collect and analyze 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. In this role, you will be based in Jaipur and will require at least 8+ years of experience in a related field. The job type is full-time and onsite. (Note: The company overview and additional details about Vaibhav Global Ltd have been omitted from the job description as per the provided instructions.),
