Product Innovation
| Teaching Hours and Credit Allocation: |
16 hours, 4 credits |
| Course Assessment: |
Coursework |
Aims
The aims of this course are to show the importance of new products to the business, to present a practical approach to the development of new products and to discuss the issues which impact on success/failure.
Learning Outcomes
By the end of this course you should be able to:
- Understand the latest theories on delivering successful new product development
- Understand the factors underlying the success or failure of new products
- Understand the challenges of controlling and co-ordinating development projects
- Understand the meaning, scale and scope of new product development
- Be aware of what new product development means to business and why it has become important
- Be aware of the challenges and opportunities posed by new product development
- Be aware of the importance of the inter-relationship between marketing and other business functions for new product development success.
Content
- Product planning
- The NPD process
- Managing creativity
- Idea generation
- Screening
- Portfolio management
- Concept development & testing
- Organisation for NPD
- Project management
- Development teams
- Testing & market research
- Commercialisation
- Success factors for new products
- Measuring innovation performance
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