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Faculty
Joseph Miller, Indiana University

Course Coordinator
ISUP Secretariat

Prerequisite/progression of the course

Basic accounting & economics, introductory marketing

Course content, structure and teaching

New product development and management is a major source of revenues and profits for many firms, and innovation is important also in economic & social terms.

• Identifying and selecting feasible new-product opportunities;
• New-product ideas as solutions to significant problems of customers;
• Methods of evaluating and testing new-product concepts: analysis of attributes & trade-off analysis;
• Sales forecasting and financial analysis of new-product concepts;
• Systems and methods of evaluating new-product concepts and projects;
• Developing product protocols, design, and development-team management;
• Methods of product use testing; and
• Strategic launch planning and implementation, market testing, and evaluating results.

The course's development of personal competences

• Development of abilities to look outside one’s own narrow interests and to understand the needs and problems of others as potential beneficiaries of new technologies;
• Methods of analyzing customers’ needs and preferences for product attributes and their trade-offs; and
• Communications skills, oral and writing, in the analysis and recommendation of new-product strategies.

Learning Objectives

• Understand the importance of innovation to the firm and the economy
• Have a good comprehension of the concepts, theories, frameworks, and methods of analysis critical to the successful development of new products;
• Learn how to apply analytic methods to the identification, sales forecasting, evaluation, and screening of new-product ideas and concepts;
• Develop knowledge of the methods of planning and designing new products and the management of development teams; and
• Learn the skills of planning for and launching new products, including market testing and evaluation of early market results.

Teaching methods

Lectures, discussions, exercises, case study analysis and presentations to class.

Examination

Mandatory mid-term feedback assignment: In order to be allowed to present the final assignment, students are required to submit one short written assignment (1-2 pages per student or a group case report of 5-10 pages by a group of five students).

Final exam: 4-hour written exam (closed book).

Exam aids: No written or technical aids.

Re-take exam: 24-hour written exam.

Recommended literature

Crawford and diBenedetto, New Product Management (paperback), 9th edition, McGraw-Hill, 2008 (ISBN-13: 978-0071263368).

Last updated by ISUP Secretariat 28/01/2010