Goals and objectives:
This course examines the analytical, decision making, and planning concepts and tools available to market, product, and brand managers. Specific decisions to be addressed include: product policy, policy formulation, the selection of product market strategies, product design, new product development, product-line modification, and organizational implications.
The course is based on the new products process, which begins with strategic planning and opportunity identification for new products, then progresses through idea generation, concept development and evaluation, project selection using financial and strategic criteria, product development and product use testing, product launch and market testing, and product management after launch.
There is ample opportunity for interaction between student and instructor. Emphasis is placed on discussion of cases and relevant readings. Because of the heavy emphasis on interaction, regular and frequent participation will be expected.
The learning objectives of this course include:
- Developing a scientific approach towards new product development and management
- Understanding the concepts and processes involved in new product development
- Applying quantitative techniques to conduct business analysis at various stages of the new product development process
- Planning appropriate and effective new product launch strategies
- Applying new product management concepts to real world situations
Topic 1. The new products process and new product strategic planning
Topic 2. Concept generation techniques, lead users, and open innovation
Topic 3. Analytical attribute approaches including trade-off analysis
Topic 4. Concept evaluation and screening
Topic 5. Forecasting, financial analysis, product protocol, and technology roadmapping
Topic 6. New product design and new product team management
Topic 7. Product use testing, strategic launch planning, product diffusion models
Topic 8. Strategic implementation and market testing
Topic 9. Launch management and public policy