Syllabus
COURSE INFORMATION
Course title: New Product Development
Course code: COMM 482 Credits: 3
Session and term: 2024W2 Class location: HA 237
Section(s): 201 and 202 Class times: Section 201: T/T 11:00-12:30
Section 202: T/T 2:00-3:30
Course duration: Jan 7 - April 8, 2025 Pre-requisites: N/A
Division: Marketing & Behavioral Science Co-requisites: N/A
COURSE DESCRIPTION
The process of identifying market opportunities and developing new products and services is a source of competitive advantage and organizations are increasingly dependent on new products as a source of innovation and profitability. This course is for those interested in learning industry best practices for developing new products and services and the factors that influence success and failure at each stage of development. Topics include market discovery, market validation, product design, stage gates, concept testing, and new product forecasting. This course will teach you how to implement industry best practices and develop your ability as an innovator, manager and decision maker.
COURSE FORMAT
Classes consist of concept classes and case classes. Concept classes are discussion-based classes where you learn problem identification and market-validation methodologies and industry best-practices. Case classes give you practice applying industry best practices to make decisions. Your job is to assume the role of the decision maker in the case, apply the course concepts to analyze the information provided in the case, and present evidenced-based arguments in class to determine the best course of action.
LEARNING OBJECTIVES
After completing the course, students will be able to:
1. Collect and analyze market data to evaluate market attractiveness and potential.
2. Collect and analyze user data to identify opportunities and inform product design decisions.
3. Analyze user data and product attribute information to make design trade-off decisions.
4. Evaluate factors that influence new product adoption and diffusion.
5. Apply concept testing techniques to develop sales forecasts and make launch decisions.
6. Apply stage gates and project planning frameworks to manage the development process.
SUSTAINABLE DEVELOPMENT GOALS (SDGS)
This course is committed to responsible business practices that can have transformative impacts on society. One of the ways we are reinforcing our commitment to responsible business is by showcasing relevant content in our courses via the lens of the United Nations Sustainable Development Goals. The course project is an excellent opportunity for students to select a real-world problem domain that is directly related to one or multiple United Nations Sustainable Development Goals. The full list of UNSDGs is listed in the following table.
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Goal 3: Good Health and Well-being
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Ensure healthy lives and promote well-being for all at all ages
Global Examples: disease prevention and response, addiction prevention and treatment, healthcare access, reproductive health, medication, mental health, aging, physical activity, quality of life, public health, workplace health and safety, health equity, pandemic response consumer, well-being, employee well-being, negative effects of
advertising/consumption, healthcare optimization
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Goal 9: Industry, Innovation and Infrastructure
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Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
Global Examples: resilient infrastructure, inclusive and sustainable industrialization, innovation, access to transportation, micro-finance, access to credit, small-scale industry support, research and technology, entrepreneurship, access to technology, social enterprise
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Goal 11: Sustainable Cities and Communities
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Make cities and human settlements inclusive, safe, resilient and sustainable
Global Examples: transportation access, road safety, cultural/natural heritage, safe and affordable housing, urban planning, air quality, inclusive/safe/healthy public spaces, urban containment, urban governance,sustainable land use, effects of climate change on cities, valuing risk, sustainable transportation
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Goal 12: Responsible
Consumption and Production
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Ensure sustainable consumption and production patterns
Global Examples: sustainable and equitable sourcing and production, sustainable procurement, sustainable distribution, food waste, lifecycle analysis, recycling and reuse, ecological footprint, corporate social responsibility, fairtrade, circular economy, consumer well-being, responsible sourcing, low emission supply chain design, responsible/ethical supply chain
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ASSESSMENTS
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Summary
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Component
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Weight
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Class Participation (Individual)
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10%
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Online Pre-Assessments (Individual)
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10%
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Case Submission (Individual)
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30%
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Team Project Part 1: Market Opportunity Report
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20%
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Team Project Part 2: Concept Proposal
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30% (report 20%, presentation 10%)
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Total
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100%
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