2012/2013  KAN-CM_SU82  Innovation and New Product (incl. Green Products) Management

English Title

Innovation and New Product (incl. Green Products) Management

Course information
Language	English
Exam ECTS	7.5 ECTS
Type	Elective
Level	Full Degree Master
Duration	Summer
Course period	Summer NOTE: The course schedule is at the moment ONLY available at www.cbs.dk/summer
Time Table	Please see course schedule at e-Campus
Study board	Study Board for MSc in Economics and Business Administration
Course coordinator
Faculty - Joseph c. Miller, Indiana Unviersity Patricia Plackett - Department of Operations Management
Main Category of the Course
Marketing
Last updated on 23-04-2012

Learning objectives

At end the end of the course, the student should be able to: Apply methods of identifying and analyzing customers’ needs for new-products/services Understand analytic methods of screening and evaluating new-product concepts Develop and use experimental tests to evaluate new services proposed Forecast sales and profits of new products and new services Understand how to apply comprehensive criteria for designing new products/services Appreciate the importance of development team coordination and how to effectively Apply methods of financial evaluation, risk analysis and control to new product projects Plan effective brand, pricing, distribution and advertising strategies for new products Understand methods of testing new products or services as they are introduced on to the Plan the most effective patent, copyright or other legal protection for new products/services

Prerequisite

Recommended: basic marketing, economics, accounting, social psychology, and sociology

Examination

Innovation and New Product (incl. Green Products) Management

4-hour written exam: Type of test Written Exam Marking scale 7-step scale Second examiner No second examiner Exam period Summer Term Aids Closed Book Duration 4 Hours

Course content

1. Importance of innovation and new product/service management to individuals, businesses and      governmental institutions in the social-economic-political life of any nation; 2. Need for scientific and artistic creative skills as well as marketing and economic analytic skills      in researching new-product/service ideas and developing them into successful new products; 3. Techniques for generating new-product and new-services ideas; 4. Analyzing customers’ desired outcomes using the opportunity algorithm to identify target         segments and competitively position the new product/service; 5. Measuring customers’ value-, brand-, and relationship equity to evaluate new-product values; 6.  Using experimental methods of testing the viability of new services; 7.  Methods of evaluating and screening new product/services concepts; 8.  Forecasting sales and profits of new products and services; 9.  Implementing design criteria for new products/services, and development team management; 10. Techniques of risk control and financial evaluation and planning of new products and       services; 11. Researching and planning brand, pricing, distribution, and advertising strategies at each stage of the new-product/service development  process; 12.  Methods of testing new products and services with users or prospective purchasers; 13,  Planning and implementing marketing strategies for the launch of new products or services          and techniques of market testing; and 14. Planning patent, copyright and other legal protections of new products and services.   The course’s development of personal competences: Types of personal and interpersonal competences that the student will develop and practice during this course:    Expanded understanding and appreciation of the importance of innovation and new-product and   new-service management, including new sustainable or green products; Greater knowledge of the dual roles of scientific and artistic creativity and of marketing and   economic analytic skills in the creation and development of new products and services; Development of personal and interpersonal skills of creativity in generating new-product and   new-service ideas; Strengthening of analytic abilities in evaluating and screening new-product/services ideas; Expanding skills of identifying customer needs in new products and services, target segments,   and competitive positioning of the new products and services; Development of skills in forecasting sales and profits of and evaluating financial risks of   new products/services; Expanding interpersonal skills in new-product/services development teams, and for teams   that plan market launch and market-entry strategies of pricing, distribution and advertising; and Developing skills of planning patent, copyright and other legal protections of new products and   services.

Teaching methods

Lectures, exercises, case study discussions. Feedback assignment: Small-group case presentations in class are recommended, but not mandatory.

Expected literature

Required course readings and literature:   Melissa A. Schilling, Strategic Management of Technological Innovation.  McGraw-Hill   Irwin, Third  edition, 2010 (paperback) (305 pages). Eight articles and cases from recent (2009-2012) research journals, including the    Harvard Business Review, European Journal of Product Innovation Management, and    Technology Analysis and Strategic Management. (95 pages)