Business and management studies
New Products Management
Module code: N1587
15 credits in spring semester
Teaching method: Workshop
Assessment modes: Unseen examination, Coursework
You learn how important it is for organisations to continuously develop new and improved products so they are not left behind in the market.
You see why product development is a risky business and why many new products fail. You discuss the main issues faced by firms at each stage of the development process.
Through lecturers, case studies and the use of practical exercise you gain an understanding of effective innovation strategies, the tools and techniques firms employ to develop into new products and tactics to take them to market.
Whilst not guaranteeing success, this course will help you minimise the chances of failure in your future product development activities.
This course covers both the analytical and practical management aspects of the product/service design process. It also aims to relate the theoretical basis of the management of innovation with the practical application of design thinking in industry and commerce. It will be heavily centred on the service sector.
You look at:
- product planning
- the produce design process
- concept development and testing
- portfolio management
- managing NPD
- testing and market research
- commercialisation strategies
- success factors for new products
- measuring innovation performance.
Module learning outcomes
- Critically appraise the role of NPD to a firms strategy and performance
- Analyse the process by which firms turn product concepts into finished products
- Explain how to introduce new products to the marketplace and evaluate the factors underlying the success or failure of new products.
- The ability to use design thinking to create new product ideas, to effectively screen and to evaluate these ideas