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New Product Development

By Ganesh N Prabhu   |   Indian Institute of Management Bangalore
Learners enrolled: 2517
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
Start Date : 15 Jul 2019
End Date : 31 Oct 2019
Exam Date : 09 Nov 2019
Category :
  • Management Studies
Level : Postgraduate



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
Professor, Strategy area
Indian Institute of Management Bangalore



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

25% internal assessment 75% Final Exam


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