New Product Development

Aims of the course

This course aims to equip students with the skills to tackle challenges in developing innovative products and services for both consumers and businesses in the environment marked by the rapid development of GAI. Students will embark on the journey of the creation of business growth opportunities by understanding key components for a successful new product development. Through a group project, teams will analyze product and service delivery in selected industries, designing innovative solutions based on user wants and needs, market specificities, demands and trends. The course covers essential tools, techniques, and methods for effective new product/service development while meeting marketing and business performance objectives. Ultimately, students will gain hands-on experience in every stage of the development process, from ideation to launch and marketing of a new product/service.

Course syllabus

1. Introduction to the new products/services process: current global issues under investigation
2. Consumer insights in the ever-changing era
3. Research methods for understanding the customers
4. Fostering creativity and innovation
5. Effective brand communication strategies
6. Product/service concept development
7. Business design for new products and services
8. Economic analysis for new products and services
9. Organisation for innovation and management of innovation process
10. New product/service launch
11. Marketing of new products and services

Course director(s)