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.