NEW PRODUCT DEVELOPMENT

NEW PRODUCT DEVELOPMENT Course code GRAI014 Course title New Product Development Type of course Compulsory Stage of study Graduate Year of stu...
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NEW PRODUCT DEVELOPMENT Course code

GRAI014

Course title

New Product Development

Type of course

Compulsory

Stage of study

Graduate

Year of study

1st

Semester

2nd

Number of credits

6 ECTS; 32 hours of class work, 128 hours of self-study, 2 hours consultation

Lecturer

Prof. dr. Suzanne Conner

Prerequisites

Undergraduate diploma

Form of studies

Full time

Language of instruction

English

Aim of the course This course is designed to provide knowledge of the new product development process. This course surveys issues related to opportunity selection, concept generation, and project evaluation, among others, from the marketing perspective. We will recognize in this course that there is no exact process that guarantees a new product’s success however, we will learn the tools that will help guide a new product development team leader an upper hand in evaluating the situation they are presented with. This course is designed to provide an understanding of the new product development process and tools that can be used, build critical thinking skills by applying this information in a course project, develop teamwork, problem solving, as well as written and oral communication skills. Learning Outcomes of the Course On completion of this course successful students will:

Course learning outcomes (CLO) CLO1. Critically evaluate a new product development environment, and its importance to a firm. CLO2. Be able to apply a new product development process and tools.

Lecture, discussions, case analysis, independent studies, course project Lecture, discussions, case analysis, independent studies, course project

Assessment methods Examination, Course project (Individual and Group), participation Examination, Course project (Individual and Group), participation Examination, Course project (Individual and Group), participation

CLO4. Identify and evaluate information related to the new product development steps.

Lecture, discussions, case analysis, independent studies, course project

Examination, Course project (Individual and Group), participation

CLO5. Develop critical thinking ability and problem-solving skills through experiential learning.

Lecture, case analysis, course project

Examination, Course project (Individual and Group), participation

CLO6. Strengthen creative and writing skills by experiencing the new product development process.

Lecture, course project, written report

Course project (Individual and Group), participation

CLO7. To communicate and to effectively in an interdisciplinary group

Discussions, course project

Course project (Individual and Group), participation

CLO3. Obtain the skills to develop and analyze a new product offering.

work

Study methods Lecture, discussions, case analysis, independent studies

case

analysis,

Quality Assurance Issues 1

Interactive teaching methods, interim knowledge assessment and self-evaluation, case study, seminars, and whole class discussions, individual and group work assignment will be employed to enhance the quality of studies.

Course Content Date

Topic

Contact hours Theory Practice 8 8

Readings

Read and study the first 4 chapters of the book before coming to class. Chapters 14

Introductions and Course Review

1

Exam I – given at the beginning of class over readings from Chapters 1-4, please see assignment section for more details. Chapters 57

Group selection

Creativity, Customer Problems, & Concept Generation – Discussion and Group Work

8

8

Presentation - Product Concept Idea

Chapters 89

Concept Evaluation & Testing – Discussion and Group Work 2 May 24-29: Read and Study Chapters 6, 8, 10, and 12

8

8

The Full Screen – Discussion and Group Work

3

Presentation – Concept Testing and Full Screen Results

Chapters 10-15

Sales Forecasting & Financial Analysis - Discussion and Group Work

2

Date

Topic

Contact hours Theory Practice

Readings

Product Protocol - Discussion and Group Work

Design - Discussion and Group Work

Product Use Testing - - Discussion and Group Work Strategic Launch Planning – Discussion & Group Work

8

8

Implementation of the Strategic Plan – Discussion & Group Work 4 Market Testing, Launch Management & Public Policy Issues – Discussion & Group Work

Chapters 16-20

Presentation – Launch Planning & Implementation of the Strategic Plan 5

Final Exam – Chapters 10, 12, 13, 16, and 17

6

Complete Written Project Due - must be uploaded on e-learning platform.

3

Self Study and Assessment Type of assignment

Hours

Evaluation,%

Exam 1

40

20

Final Exam

40

20

Presentations

10

10

Written Project

40

40

Total

130

100

EXAM 1 (20%) Exam will cover textbook material from Chapters 1 – 4. For chapter 3, you only need to study through page 79. This exam will be given at the beginning of the class on ………. Make sure you prepare for this exam before coming to class. Questions will be multiple choice and/or short answer/essay. Exam 1 will count for 20% of the final grade.

FINAL EXAM (20%) Exam will cover textbook material from chapters 10, 12, 13, 16, and 17. Questions will be multiple choice and/or short answer/essay. Exam will take place …….. The final exam will count for 20% of the final grade.

PRESENTATIONS (10%) The presentations given in class will allow students to get feedback on their project at the current stage. All team members must participate in the presentations and must be delivered in a professional manner. Please make sure you direct your presentation to all members of the audience, not just the instructor.

GROUP PROJECT (40%) The project for this course will involve developing a new product from concept creation through the launch. The requirement details will be given in the first class. Projects will be assigned grades based on the complete project as well as each member’s contribution to the team. Complete written projects need to be turned in ………..

RE-TAKE Students who receive a failing final grade shall have the right to re-take the exam during the re-sit week, which will comprise 40 per cent of the final grade. Presentations and Written Project cannot be retaken at a later time.

Class Participation Class participation is expected in discussions and all activities.

Electronic Devices NO electronic devices may be used in the classroom at any time. Please turn them off. This includes cellphones, pagers, recorders, etc. However, you are encouraged to bring a laptop with you but they may only be used during the specified group-work times when the instructor tells you it is allowed and may only be used for the tasks at hand (not to check email, Facebook, etc.). Use of any of electronic devices in ways or at times it is not approved, will result in a 5% reduction in your final grade. If you are caught using or having a live (powered on) device during an exam you will automatically fail this course. 4

Class conduct/behavior You are expected to always act in a professional manner during this course. This includes paying attention, being respectful of others, and playing an active role in the discussions and group work. Failure to do so may result in you being asked to leave the class.

Late work Late work will not be accepted under any circumstance.

Course textbook All the material will not be covered in detail during the course meetings but will provide a basis for discussion. In the exams, the content of all textbook material, as specified in the Assignments and Evaluation section, can be tested.

Required Readings Crawford, C.M. and Di Benedetto, C.A. (2015). New Product Management 11 th Edition. McGraw-Hill Education.

5

Role of the course in reaching learning outcomes of Innovation and Technology Management programme Programme learning outcomes

Course learning outcomes

Specific outcomes S1. Be able to analyze a company or an organization in order to identify the opportunities and resources necessary to develop a new product, service, new way of doing things, new business strategy, new way of managing people, new way of thinking about things.

CLO1, CLO2

S2. Acquire the critical knowledge and understanding of the main innovation management theories and approaches and be able to identify opportunities and possibilities for competitive advantage through innovation. S3. Be able to identify new possibilities in national and international markets, to foresee, analyse and assess target markets, their potential and obtain the skills to develop a new product offering by communicating effectively one’s proposals to the market.

CLO3

S4. Have developed the insights and skills, necessary to analyse and structure business financial information, to make financial forecasts and apply valuation models, supporting value-adding business decisions. S5. Apply the strategic business management process to real life business cases and develop recommendations to help firms create and sustain competitive advantage.

CLO 1, CLO 2, CLO 3, CLO 4

S6. Gain skills how to manage projects, with special emphasis on their life cycle, and be able to use the tools in managing and delivering innovation projects. S7. Be able to analyze how cognitive, behavioral, and emotional outcomes contribute to and sustain organizations, identifying processes and methods that can improve the behavior, attitudes, and effectiveness of organizational members, with a particular emphasis on innovation and change management. S8. Develop proposals to business entities as regards possible forms of protection of intellectual property and apply IP protection and property owner’s rights in the context of the legal intercourse of national, transnational and paneuropean businesses. S9. Have a critical awareness of research issues, methodologies, and methods used in business and management as well as ability to analyse, synthesize and assess research data necessary for studies, and professional activity and innovation development. S10. Have the ability to integrate knowledge, manage complicated situations and make decisions when there is no comprehensive and well-defined information, and assess alternative solutions and possible impact on environment. General outcomes G1. Be able to apply modern information technologies in the data gathering, analysis and communication. G2. Demonstrate a systematic, critical and constructive thinking in problem identification and solving.

CLO3, CLO6, CLO5

G3. Be able to communicate well and express thoughts orally and in writing with specialists and non- specialist audiences.

CLO3, CLO6, CLO5, CLO 7

G4. Demonstrate the competences of an independent learner.

CLO 1,CLO2, CLO3, CLO4, CLO5, CLO6

G5. Communicate and work effectively in an intercultural and interdisciplinary group or team.

CLO2, CLO4, CLO5, CLO6, CLO7

G6. Have developed the creative mind-set and innovation capabilities of an entrepreneurial leader.

CLO1-CLO7

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