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New Products Management

New Products Management

  • Class 30
  • Practice 10
  • Independent work 110
Total 150

Course title

New Products Management

Lecture type

Obligatory

ECTS

5

Lecturers and Associates

The course aims

Introduce students to successful frameworks, strategies, business models, risks and barriers for the introduction of new innovative products and services. Students will develop skills necessary to evaluate, articulate, develop and introduce new products or services.

Content

Lecture topics: L1: What is a product innovation? L2: Development stages of a new product. L3: New product development process. L4: Idea generation. L5: How to define and segment the market. L6: Voice of the customer. L7: Understanding and Mapping customers’ perceptions. L8: Product positioning. L9: Understanding opportunities for new product introduction. L10: Ideal vector and preferences. L11: Insights from the social circle. L12: Conjoint analysis theory. L13: Conjoint analysis applications. L14: Concept, product use and marketing testing. L15: Early forecasting. L16: Product launch and time to market. L17: Product life cycle. L18: Product pricing. L19: Disruptive technologies. L20: Brand management and product strategy. Topics for seminar classes: S1: Development of the concept of a new product S2: Selecting ideas in order to speed up adoption of new products S3: Specific product/service design S4: Incremental vs. radical innovations S5: Product lifecycle in different markets S6: Modifications of existing products S7: Importance of marketing development plan S8: Analysis of the accompanying costs of the new product future sales S9: Promotion of the new product S10: Line extensions S11: Analysis of the estimation of commercialization costs of a new product. S12: S20: Role of strategic brand management.

Literature

Crawford, C. M. i Di Benedetto, C. A. (2014): New Products Management. 11 edition. McGraw-Hill Education.
Urban, G. L.; J. R. Hauser and N Dholakia (1998): Essentials of New Product Management, First Edition. Prentice Hall (Chapters 6-7).

Supplementary literature

Kahn, K. B. (2012): The PDMA Handbook of New Product Development. Third Edition. Wiley.
Cooper, R. G. (2001): Winning at New Products: Accelerating the Process from Idea to Launch. Third Edition. Basic Books.
Geoffrey A. Moore (2014): Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers. Third Edition. Collins Business Essentials.
Urban, G. L. and J. R. Hauser (1993): Design and Marketing of New Products, Prentice-Hall, Second Edition

Minimum learning outcomes

  • Evaluate strategic opportunities for development of new products.
  • Evaluate concepts and tools critical for the development and introduction of new products.
  • Evaluate efficiency and effectiveness of the process of creating a new product.
  • Evaluate principles and practical examples of development, design, marketing and introduction of new product or service.
  • Have an understanding of methodologies used in new product development process.

Preferred learning outcomes

  • Recommend concepts and ideas of new products.
  • Select and critically interpret appropriate concepts and tools critical for the development and introduction of new products.
  • Navigate, plan and execute basic stage-gate model for new product development.
  • Critique the employed process and propose remedies and solutions in terms of the most appropriate new product development process.
  • Use the appropriate set of methodologies to navigate relevant stages of new product development.