New Product Development

By Ganesh N Prabhu | Indian Institute of Management Bangalore (IIMB)

Learners enrolled: 10610

An effective process for conceiving, developing and launching new products or services is critical to becoming competitive in most industries. This course includes key concepts like new product development strategy, types of product development strategies and steps.

This course involves

(a) Organizational integration of the work of functional specialists, industrial designers, and other key participants within the firm.

(b) Reducing the time-to-market while meeting cost and quality targets.

(c) Managing cross-functional projects and inherent technological risks while keeping a focus on changing customer requirements.

These challenges are examined in relation to the business level strategy of the firm, its competitive challenges, the technology life cycle and the product life cycle. We will also focus on the potential for firms to build markets and create demand for new products.

What you'll learn:

Understand the entire product development process from the product idea to eventual launch with an appropriate business model.
Learn how emerging market firms gain competitive advantage through design and development of locally relevant products.

Summary

Course Status :	Completed
Course Type :	Core
Duration :	6 weeks
Category :	Management Studies
Credit Points :	2
Level :	Postgraduate
Start Date :	31 Jan 2023
End Date :	30 Apr 2023
Enrollment Ends :	15 Mar 2023
Exam Date :

Page Visits

Course layout

Week 1 – Managing Product Development

• Introduction

• Business Models for New Products

• Managing Product Development

Week 2 – Understanding Customer Needs

• Identifying New Product Opportunities

• Market Research for New Product Development

Week 3 – Organizing Product Development

• Product Architecture, Design for manufacturing and Prototyping

• Organizing for Product Development

• Developing Services and Product Service Systems

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 5 – Design Thinking for New Products

• Designing Products for Emerging Markets

• Design Thinking for New Products

Books and references

Drew Boyd & Jacob Goldenberg (2013) Inside the Box: The Creative Method that Works for Everyone
Joseph V. Sinfield, Edward Calder, Bernard McConnell and Steve Colson (2012) How to Identify New Business Models, MIT Sloan Management Review Vol. 53, No.2.
Chun-Che Huang (2000) Overview of Modular Product Development, Proc. National Science Council ROC(A) Vol. 24, No. 3, pp. 149-165
Marc H. Meyer and Arthur DeTore (1999) Product Development for Services, The Academy of Management Executive, Vol. 13, No. 3, Themes: Teams and New Product Development (Aug., 1999), pp. 64-76

Instructor bio

Ganesh N Prabhu

Indian Institute of Management Bangalore (IIMB)

Ganesh N Prabhu is a Professor of Strategy at the Indian Institute of Management Bangalore, where he teaches Strategy, Qualitative Research and New Product Development. He also conducts executive programmes on New Product Development, Business Strategy, Business Acumen, Strategy Consulting and Design Thinking for senior managers. He was an invited member on the inaugural India Design Council and is a top writer on Quora. Ganesh is a Fellow (PhD) from the Indian Institute of Management Ahmedabad and holds a Post Graduate Diploma in Management from the Institute of Rural Management Anand. His research focuses on entrepreneurship and has been published in the Academy of Management Review and Research Policy.

Course certificate

Grading Policy:

There will be (a) one Mid-term Internal Assessment and (b) one Final Exam.

Weightage:

Mid-term Internal Assessment: This will carry 25% weightage. This mid term will have questions from first three weeks.

Final Exam: This will carry 75% weightage. This final exam will have questions from all the weeks.

Passing Marks:

You will be eligible for a certificate only if you score minimum 40% in Mid-term Internal Assessment and minimum 40% in Final Exam.

Badge on Certificate:

If you score 90% or more overall, your certificate will include "badge (gold)" printed.

FINAL EXAM:

Type of exam: Computer based exam

Exam Center: You will have to appear at the allotted exam centre and take the exam in person. (You can find the final allotted exam centre details in the admit card (hall ticket)).

Admit Card: You can download the Admit card (Hall ticket) around one week before the exam.

QP Pattern: The type of questions may include multiple choice questions, fill in the blanks, essay type (subjective) type, etc. But generally MCQs are commonly provided.

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