GRA 6428 New Product Development and Service Innovation

GRA 6428 New Product Development and Service Innovation

Course code: 
GRA 6428
Department: 
Marketing
Credits: 
6
Program of study: 
Master of Science in Strategic Marketing Management
Course coordinator: 
Erik Olson
Product category: 
Master
Portfolio: 
MSc in Strategic Marketing Management
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

This course is designed to expose students to the process of new product and service development and marketing's role in working with other functional areas such as R&D, finance, and manufacturing to develop products and services that customers want and need. Please note that references to "product" development issues below can also include service products.

Learning outcomes - Knowledge

The objective of the course is to train future marketing managers in the science of new product development, so that they can more effectively gather new ideas and turn them into profitable new products.

Learning outcomes - Skills

Students will gain skills in a variety of idea generation techniques, the stage-gate product development process, and the analysis of market place trends through the use of cases and article discussion.

General Competence

The course will exposure students to the factors that increase the odds that a new product will succeed, but also the reasons behind managerial mistakes that can cause new product failures. 

Course content

The design of the course is meant to encourage discussion of the issues, theories and methods that are used in firms with the best new product development practices. The following topics will be covered:

  • The New Product Development (NPD) Process and its implications for new product success.
  • Innovation types and service innovation.
  • Putting the Voice of the Customer into NPD: marketing research for large and small firms.
  • Internal Marketing: product champions, resource procurement, and the political process in NPD.
  • Organizing for NPD: cross-functional teams - interacting with other functional areas of the firm.
  • Financial implications: estimating the costs and revenues from a new product.
  • Branding and New Products: brand champions, design elements of the brand, and brand extensions.
  • New Product Launch into the Market.
Teaching and learning activities

Students are expected to be well prepared for each discussion by reading the assigned literature and cases. Students will also be responsible for developing a new product proposal using the techniques discussed in class.  This proposal will also be the basis for a short student presentation to the class, where feedback from the instructor and classmates can help in improving the final paper.  

Software tools
No specified computer-based tools are required.
Additional information

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class. 

This is a course with continuous assessment (several exam components) and one final exam code. Each exam component is graded by using points on a scale from 0-100. The components will be weighted together according to the information in the course description in order to calculate the final letter grade for the examination code (course). Students who fail to participate in one/some/all exam elements will get a lower grade or may fail the course. You will find detailed information about the point system and the cut off points with reference to the letter grades when the course starts.

At resit, all exam components must, as a main rule, be retaken during next scheduled course.

Qualifications

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 64281
Grading scale:
Point scale
Grading rules:
Internal and external examiner
Resit:
All components must, as a main rule, be retaken during next scheduled course
50No 1 Semester(s)Group (2 - 3)New Product Development Proposal
Exam category:
Activity
Form of assessment:
Presentation
Exam code:
GRA 64281
Grading scale:
Point scale
Grading rules:
Internal examiner
Resit:
All components must, as a main rule, be retaken during next scheduled course
30No -Group (2 - 3)Proposal presentation.
Exam category:
Activity
Form of assessment:
Class participation
Exam code:
GRA 64281
Grading scale:
Point scale
Grading rules:
Internal examiner
Resit:
All components must, as a main rule, be retaken during next scheduled course
20No 1 Semester(s)Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:50
Invigilation:No
Grouping (size):Group (2-3)
Duration: 1 Semester(s)
Comment:New Product Development Proposal
Exam code:GRA 64281
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Exam category:Activity
Form of assessment:Presentation
Weight:30
Invigilation:No
Grouping (size):Group (2-3)
Duration: -
Comment:Proposal presentation.
Exam code:GRA 64281
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Exam category:Activity
Form of assessment:Class participation
Weight:20
Invigilation:No
Grouping (size):Individual
Duration: 1 Semester(s)
Comment:
Exam code:GRA 64281
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Type of Assessment: 
Continuous assessment
Grading scale: 
ECTS
Total weight: 
100