241 New Product Development

Why do some companies consistently outperform others in developing successful new products and services? Why do so many new products fail in the marketplace? This course introduces the major activities involved in developing new products and services. Emphasis is on learning practical skills and techniques that can help students be successful in a product development environment.

Students will learn how to understand customer and user needs, and translate them into meaningful product concepts; manage product development programs and teams across multiple functions. Do financial analysis of programs and make economic tradeoffs in the development effort. Choose product development methodologies appropriate for the business and products. As part of the course, students may work on a new product development project. More details available in the syllabus.

Prerequisite: 249