GRA 6428 New Product Development and Service Innovation
GRA 6428 New Product Development and Service Innovation
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.
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.
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.
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.
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.
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.
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.
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.
Covid-19
Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.
| Assessments |
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Exam category: Submission Form of assessment: Written submission Weight: 50 Grouping: Group (2 - 3) Duration: 1 Semester(s) Comment: New Product Development Proposal Exam code: GRA 64281 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Activity Form of assessment: Presentation Weight: 30 Grouping: Group (2 - 3) Comment: Proposal presentation. Exam code: GRA 64281 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Activity Form of assessment: Class participation Weight: 20 Grouping: Individual Duration: 1 Semester(s) Exam code: GRA 64281 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.