New Product Development
Course Information
Course Length   : 5 weeks
Estimated Effort : 3 – 4 hrs per week
Course Overview
A clear knowledge of the effective processes for conceiving, developing and launching new products or services is critical to becoming competitive in most industries. This IIMBx course on New Product Development is designed to introduce learners to the key concepts related to New Product Development such as new product development strategy, types, strategies, and steps for product development, and so on.
This course examines and explores:
Organisational integration of works of functional specialists, industrial designers, and other key participants within the firm
Means to reduce the time-to-market while meeting cost and quality targets
Ways of managing cross-functional projects and inherent technological risks while keeping a focus on changing customer requirements.
These challenges are examined, within the course, in relation to the business level strategy of a firm, its competitive challenges, the technology life cycle, and the product life cycle. The course also investigates the potential for firms to build markets and create demand for new products.
Key take-aways for the learners from this course are:
A clear understanding of the entire product development process from the product idea to eventual launch with an appropriate business model
A comprehensive idea of how emerging market firms gain competitive advantage through the design and development of locally relevant products
Ganesh N Prabhu
Professor
Strategy
Indian Institute of Management Bangalore (IIMB)
Course Syllabus
Week 1 – Managing Product Development
- Introduction
- Business Models for New Products
- Managing Product Development
- Week 1 Summary
- Additional Readings
- Graded Assessment-1
Week 2 – Understanding Customer Needs
- Identifying New Product Opportunities
- Market Research for New Product Development
- Week 2 Summary
- Additional Readings
- Graded Assessment-2
Week 3 – Organizing Product Development
- Product Architecture, Design for manufacturing and Prototyping
- Organizing for Product Development
- Developing Services and Product Service Systems
- Week 3 Summary
- Additional Readings
- Graded Assessment-3
Week 4 – New Product Strategy
- Building Markets and Creating Demand for New Products
- Intellectual Property Issues in Product Development
- New Product Business Plans – Strategy Consulting for New Products
- Week 4 Summary
- Additional Readings
- Graded Assessment-4
Week 5 – Design Thinking for New Products
- Designing Products for Emerging Markets
- Design Thinking for New Products
- Week 5 Summary
- Additional Readings
- Graded Assessment-5
After completing this course, learners will be able to:
- Outline stages of product development.
- Identify product opportunities for developing new products
- Recall techniques of product-designing that enable easy and low-cost manufacture
- Elaborate on the New Product Development (NPD) organisation structures- namely, Functional, Project and Matrix.
- Strategise plans to create demand for products/services and build markets
- Explain the nature of design thinking
- Professionals interested in understanding product development process.
- Students pursuing graduate and postgraduate program
- Product managers who are keen to learn to learn how to gain competitive advantage through design and development of relevant and efficient products