New Product Strategy

2.5 credits

This course examines the issues involved in the planning, justification, and development of new products. We will fold in best practices from organizations like Pragmatic Marketing and Strategyzer (Business Model Canvas/Value Proposition Design), along with the standard go-to processes and approaches followed inthe business world today. The course explores the fundamentals of understanding market and customer needs to ensure products are developed based on market reality. We study the processes associated with the ideation, iteration and development of value propositions and explore how these value propositions mustfit into a broader business model to find true success. Leading from this, we study new product development (NPD) processes, and explore the impact of disruptive innovation on crafting new solutions. We conclude with the exploration of the unique leadership skills required in a new product role. Select cases will be analyzed and discussed to embellish critical learnings. A term long project will have teams develop a value proposition and its associated business model.