Product Innovation

 

Teaching Hours and Credit Allocation: 18 hours, 4 credits
Course Assessment: Coursework

 

Aims

The aims of this course are to:

  • Show the importance of new products to the business
  • Present a practical approach to the development of new products
  • Discuss the issues which impact on success/failure.

 

Learning Outcomes

On completing the course participants will:

  • 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