Management of the new product development process including key concepts and tools as well as organizational structures
New products and services are vital to all companies. At the same time, designing and launching new products is risky. Managing the new product development therefore involves identifying new product ideas that have great potential and lowering the risk of their failure. The participants shall learn about the stages in the innovation process as well as useful tools, techniques, and organizational structures that support the process. A specific focus will be on the consumer perspective, i.e., how the target group perceives and evaluates innovations and how it can be integrated into the innovation process. Participants shall be able to discuss the role marketing plays in the product development process and how entry strategies and market characteristics influences the likely success or failure of a new product.
- Growth and innovation strategies & innovation culture
- Opportunity identification, idea generation and selection
- Concept and product development and testing
- Launch strategy
- Organizational issues and alternative process models
- Consumer acceptance of innovations
lecture, case studies, group work
- Govindarajan, V. / Trimble, C.: The Other Side of Innovation: Solving the Execution Challenge, Harvard Business Review Press 2010.
- Tidd, J. / Bessant, J.: Managing Innovation: Integrating Technological, Market and Organizational Change, 5th ed., Wiley 2013.
- Trott, P.: Innovation Management and New Product Development, 5th ed., Prentice Hall 2011.
- Harvard Business Review: HBR 10 Must Reads on Innovation, 2013.