Detailed course description
The development of new products and services is probably the most important but also most risky activity within a firm. Across companies many years and millions of dollars are spent developing products that on average fail far more often than they succeed. On the other hand, leading companies manage to bring out successful new products year after year. The primary purpose of this course is to provide you with an in-depth understanding of current best practices in new product development.
This course examines the strategies, processes, tools and techniques used by leading-edge companies for new-product development. It examines different stages of product development, from idea generation to market testing. You will learn about and apply tools for effective new product development including stage-gate processes, ethnographic market research techniques, ideation/brainstorming techniques, idea scoring models, concept statements, and new product business cases. This course will also highlight the different roles and functions required for effective new product development. Although the primary focus of the course is on physical products, much of the material is also relevant for the design of new services.
The goal of this course is to make you familiar with the methods and frameworks for:
- Identifying and evaluating opportunities for new products
- Structuring the process of new product development (NPD).
- Designing business models for new products.
- Constructing and testing product concepts.
- Understanding the principles of prototyping and user-centered design.
- Consumer testing and launching new products.
Since October 2006, Dr. Fee Steinhoff is Project Field Manager at Deutsche Telekom Laboratories in Berlin. She is responsible for user-driven innovation at Deutsche Telekom and is in charge of the development and implementation of a holistic marketing approach along the different innovation phases and supports the conceptualization as well as implementation of user-driven innovation processes. She received her Ph.D. from the Technical University Berlin. Dr. Fee Steinhoff co-authored the book "Innovation Marketing" with Prof. V. Trommsdorff. She has extensive consulting experience with McKinsey & Company, Bombardier, Fraunhofer-Gesellschaft and Roche Germany.