BUS 462: New Product Development examines the correlates of new
product development success and explores those concepts in depth. Students learn to identify markets, develop new product ideas, assess market potential and strategic fit and develop launch strategies. Key underlying concepts include: the new product development stage-gate process, voice-of-the-customer research, concept development, and
launch strategy. Throughout the course, particular attention is paid to the development, marketing, and adoption of technology products.
The course combines lecture, discussion, case analysis, and hands-on group projects. Lectures and discussions will focus on concepts and methods; case discussions will offer the opportunity to build critical thinking by applying those concepts to real-world situations. From time to time, guest speakers will contribute their perspectives to the concepts and methods discussed in class.
COURSE OBJECTIVES
- To understand Cooper’s determinants of new product development success.
- To describe, and explain the rationale behind, the stage-gate process.
- To evaluate existing markets for new product opportunities using state-of-the-art analytical techniques.
- To use a variety of research methods, including ethnographic techniques, to assess customer needs.
- To translate market needs into product idea statements and develop ideas into concept statements.
- To engage in business case development for a new product concept.
- To understand key factors driving new product launch strategy.
- To communicate effectively and professionally through business reports and presentations.