This course is designed to provide students with the intellectual foundation as well as experience of the new product development process. To develop intellectual foundations, students are expected to read the textbook, prepare for case studies, and participate in the class discussions. In addition, to get a real life experience of the new product development process, the students will work in groups for a semester long project. In the project they will identify a customer problem, propose a solution, test the solution and develop a plan for launching the product. At the end of the semester, the students can expect to have a richer understanding of the new product development process.
By the end of this course, students will be able to:
• Explain and examine the idea generation processes involved in new product development.
• Create and evaluate new ideas that tap into market opportunities.
• Create, analyse, and evaluate the financial potential and risk of their ideas.
• Develop a flair for effectively presenting their ideas.