New Product Development

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

Learners enrolled: 3820

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
Language for course content :	English
Duration :	6 weeks
Category :	Management Studies
Credit Points :	2
Level :	Postgraduate
Start Date :	15 May 2020
End Date :	14 Dec 2020
Enrollment Ends :	14 Oct 2020
Exam Date :	26 Mar 2021 IST

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

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

Type of exam: Computer based exam

You will have to appear at the allotted exam centre. You will have to produce your Hall ticket and Government Photo Identification Card for verification and take the exam in person. You can find the final allotted exam centre details in the hall ticket. The exam will be computer based; type of questions may include multiple choice questions, fill in the blanks, check box questions, etc.

FINAL CERTIFICATE:

Weightage: 25% weightage for weekly assignment + 75% weightage for final exam.

Passing Marks: You will be Eligible for Certificate Only if you score minimum 40% Weekly Assessment and minimum 40% in Final Exam. If you score less than 40% in either weekly assessments (avg) or in final exam, you will NOT receive the certificate.

The final score will determine if you will/will not receive a certificate.

1. Final score < 40%: NO certificate.

2. Final score between 40% - 49.99%: Grade D.

3. Final score between 50% - 59.99%: Grade C.

4. Final score between 60% - 84.99%: Grade B

5. Final score of 85% and above: Grade A