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Apr 19, 2024
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MBA 7133 Innovation and Product Development(3 hours)
Introduces students to concepts related to the marketing of innovation, new processes, and new products. The course will discuss and apply tools and concepts required to assist in analyzing the viability of innovations, new products, and new processes. At the conclusion of this course, students will have a greater understanding of the innovation process. Integral to the overall perspective of the course, students will develop important analytical capabilities related to the initiation, implementation, and completion of the innovation process as it pertains to the marketing function. Specific understanding and skills that will be enhanced include: 1) the characteristics of successful innovations; 2) the importance of innovation to furthering customer value; 3) the distinction between customer- and firm-driven innovation; 4) market segmentation and conjoint analysis in product design; 5) innovation adoption models and their managerial importance; 6) activities related to concept generation and selection; 7) marketing plan development for new products; 8) forecasting demand for new products; and 9) new product specification and prototyping.
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