New Product and New Service Development - MARK3091

A course focused on how to develop a business plan for a new product or service launch, having diagnosed a market opportunity. This involves an understanding of product-based competition and an appreciation of strategic options available to firms that are adept at development. Themes include: NPD processes, from setting a strategic framework for the development effort through to monitoring post-launch success; methods of market research and the use of analytical approaches such as perceptual mapping, benefit segmentation, trends unbundling and morphological analysis; screening and ranking processes to set priorities for development; converting concepts into prototypes; developing strategies and plans for the commercial launch. Some exercises may require flexibility with the timing of classes.