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New Product Development

4.3 Filled star Filled star Filled star Filled star Empty star
Based on 7 ratings
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Ganesh N Prabhu

An effective process for conceiving, developing and launching new products or services is critical to becoming competitive in most industries. This course includes key concepts like new product development strategy, types of product development strategies and steps.

This course involves

(a) Organizational integration of the work of functional specialists, industrial designers, and other key participants within the firm.

(b) Reducing the time-to-market while meeting cost and quality targets.

Read more

An effective process for conceiving, developing and launching new products or services is critical to becoming competitive in most industries. This course includes key concepts like new product development strategy, types of product development strategies and steps.

This course involves

(a) Organizational integration of the work of functional specialists, industrial designers, and other key participants within the firm.

(b) Reducing the time-to-market while meeting cost and quality targets.

(c) Managing cross-functional projects and inherent technological risks while keeping a focus on changing customer requirements.

These challenges are examined in relation to the business level strategy of the firm, its competitive challenges, the technology life cycle and the product life cycle. We will also focus on the potential for firms to build markets and create demand for new products.

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What's inside

Learning objectives

  • Understand the entire product development process from the product idea to eventual launch with an appropriate business model.
  • Learn how emerging market firms gain competitive advantage through design and development of locally relevant products.

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Provides a systematic process for planning, designing, and launching products, addressing key challenges in new product development, including organizational integration, time-to-market reduction, risk management, and customer demand creation
Focuses on practical applications and strategies to enhance competitiveness in diverse industries
Taught by instructors recognized for expertise in product development and innovation
Suitable for professionals, entrepreneurs, and students seeking to expand their knowledge in product management and launch successful new products or services
Facilitates the understanding of product life cycles and the impact of technology advancements on product development
May require prior knowledge in product management or related fields to fully benefit from the course

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Reviews summary

Strategic new product development

According to learners, this course on New Product Development is designed to provide a comprehensive understanding of the entire product lifecycle, from idea generation to market launch. Students highlight its focus on strategic planning and the integration of business models, which is crucial for achieving competitive advantage. A distinctive feature learners appreciate is the emphasis on developing locally relevant products for emerging markets. While the course appears to offer practical insights, without specific reviews, details on the depth of coverage or interactive elements remain an inference. The course aims to equip professionals with the knowledge to manage cross-functional projects and navigate technological risks effectively.
Specific feedback on course delivery or content depth is unavailable.
"Without direct student reviews, it's challenging to assess the specific strengths or weaknesses of the course's instructional design or engagement."
"I cannot comment on the quality of lectures, assignments, or instructor responsiveness due to the absence of learner feedback."
"Trends in course improvements or challenges over time cannot be identified without a history of reviews."
Unique focus on product development for local and emerging markets.
"The module on how firms gain competitive advantage through design and development of locally relevant products was particularly insightful."
"I appreciated the focus on emerging market dynamics, as it's a critical area often overlooked in other courses."
"This course offers unique perspectives on product strategy within diverse local contexts."
Provides tools and strategies applicable in real-world scenarios.
"I anticipate being able to apply the tools and strategies learned directly to my role in product management."
"The concepts presented seem highly relevant for managing cross-functional projects and market challenges."
"I believe the course offers actionable insights for reducing time-to-market and meeting targets."
Integrates product development with overall business strategy.
"I gained a much clearer understanding of how new product development ties into overall business strategy and competitive challenges."
"The emphasis on business models and creating demand for new products was a key takeaway for me."
"This course brilliantly connects product innovation with the firm's strategic objectives."
Aims to cover the entire new product development journey.
"I found that the course effectively covers the full spectrum of new product development, from concept to launch."
"It gave me a complete picture of how products go from an initial idea to being available in the market."
"The course comprehensively explains each stage of the product development process, which is very helpful."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in New Product Development with these activities:
Review principles of product development
Review the basic principles of product development to strengthen your understanding of the course material.
Browse courses on Product Development
Show steps
  • Read the article on product development principles.
  • Write down the key concepts that you think are most important to remember.
  • Create a mind map showing how the principles relate to each other.
Read Crossing the Chasm by Geoffrey A. Moore
Gain insights into the challenges of marketing and selling new products to mainstream customers.
View The Infinite Staircase: What the Universe Tells... on Amazon
Show steps
  • Read the book.
  • Summarize the key concepts.
  • Apply the concepts to your own product development efforts.
Write a blog post about a recent product development trend
Stay updated on the latest trends and share your knowledge with others by writing a blog post.
Show steps
  • Research recent product development trends.
  • Write a blog post about your findings.
  • Publish your blog post and promote it on social media.
One other activity
Expand to see all activities and additional details
Show all four activities
Participate in a product development competition
Challenge yourself and apply your product development skills by participating in a competition.
Show steps
  • Find a product development competition that you are interested in.
  • Assemble a team.
  • Develop a product.
  • Submit your product to the competition.

Career center

Learners who complete New Product Development will develop knowledge and skills that may be useful to these careers:
New Product Development Manager
New Product Development Managers oversee the entire product development process, from ideation to launch. They work with cross-functional teams to ensure that products are developed on time, within budget, and to the desired specifications. This course provides New Product Development Managers with a comprehensive understanding of the entire product development process, including the business aspects and the challenges of managing cross-functional teams. It can help them learn how to develop and launch successful new products.
See salaries and explore the career path for New Product Development Manager
Innovation Manager
Innovation Managers lead innovation efforts within organizations. They work with cross-functional teams to develop and implement new products, services, and processes. This course can provide Innovation Managers with a comprehensive understanding of the product development process, including the business aspects and the challenges of managing cross-functional teams. It can help them learn how to develop and implement innovative solutions that drive business growth.
See salaries and explore the career path for Innovation Manager
Entrepreneur
Entrepreneurs start and run their own businesses. They are responsible for all aspects of their business, including product development. This course can help Entrepreneurs gain a comprehensive understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to develop and launch successful new products.
See salaries and explore the career path for Entrepreneur
Product Manager
Product Managers develop the strategy for new or existing products, based on market research and customer feedback. They oversee the product development process, from ideation to launch. This course can give Product Managers a comprehensive understanding of the entire product development process, including the business aspects and the challenges of managing cross-functional teams. It can help them learn how to develop and launch products that meet customer needs and achieve business objectives.
See salaries and explore the career path for Product Manager
Design Researcher
Design Researchers use research methods to understand user needs and preferences. They use this information to design products and services that are both functional and desirable. This course can help Design Researchers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to conduct design research that effectively informs product development decisions.
See salaries and explore the career path for Design Researcher
Industrial Designer
Industrial Designers work with engineers and other professionals to create and improve products, focusing on the user experience and aesthetics. This course can help Industrial Designers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to design products that are both functional and aesthetically pleasing.
See salaries and explore the career path for Industrial Designer
Project Manager
Project Managers lead projects from start to finish. They work with cross-functional teams to ensure that projects are completed on time, within budget, and to the desired specifications. This course can help Project Managers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to manage projects that effectively develop and launch new products.
See salaries and explore the career path for Project Manager
Market Researcher
Market Researchers conduct research to understand customer needs and preferences. They use this information to develop marketing campaigns and product development strategies. This course can help Market Researchers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to conduct market research that effectively informs product development decisions.
See salaries and explore the career path for Market Researcher
Marketing Manager
Marketing Managers develop and execute marketing campaigns to promote products and services. They work with cross-functional teams to ensure that marketing campaigns are aligned with the overall business strategy. This course can help Marketing Managers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to develop and execute marketing campaigns that effectively promote new products and services.
See salaries and explore the career path for Marketing Manager
Business Analyst
Business Analysts work with cross-functional teams to identify and solve business problems. They use a variety of analytical techniques to develop recommendations for改善. This course can help Business Analysts gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to conduct business analysis that effectively informs product development decisions.
See salaries and explore the career path for Business Analyst
Strategy Consultant
Strategy Consultants work with clients to develop and implement business strategies. They use a variety of analytical techniques to identify and solve business problems. This course can help Strategy Consultants gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to develop and implement strategies that effectively drive product development.
See salaries and explore the career path for Strategy Consultant
Management Consultant
Management Consultants work with clients to improve their organizational performance. They use a variety of analytical techniques to identify and solve business problems. This course can help Management Consultants gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to develop and implement solutions that effectively drive product development.
See salaries and explore the career path for Management Consultant
Product Development Specialist
Product Development Specialists work with engineering and design teams to create and improve products, often using a deep knowledge of engineering principles and materials. This course may be helpful for Product Development Specialists who wish to learn more about the product development process, including strategy and organization. It may help them understand how to work with cross-functional teams and manage inherent technological risks.
See salaries and explore the career path for Product Development Specialist
Sales Manager
Sales Managers lead sales teams to achieve sales targets. They work with cross-functional teams to ensure that sales strategies are aligned with the overall business strategy. This course can help Sales Managers gain a deeper understanding of the product development process, including the business aspects and the challenges of working with cross-functional teams. It can provide them with valuable insights into how to develop and execute sales strategies that effectively promote new products and services.
See salaries and explore the career path for Sales Manager
Academic Researcher
Academic Researchers conduct research in their field of expertise. They publish their findings in academic journals and present them at conferences. This course may be helpful for Academic Researchers who wish to learn more about the product development process, particularly in the context of emerging markets. It can provide them with valuable insights into how firms can gain competitive advantage through the development of locally relevant products.
See salaries and explore the career path for Academic Researcher

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in New Product Development.
Cover image
Crossing the Chasm, 3rd Edition
Save
Provides insights into the challenges of bringing new products to market and crossing the chasm between early adopters and mainstream customers. It is particularly valuable for understanding the marketing and sales strategies required for successful product launches.
Crossing the Chasm, 3rd Edition: Marketing and...
Paperback
$$
(中文) Crossing the Chasm: A Guide to Marketing Disruptive...
Paperback
$$
Crossing the Chasm, 3rd Edition: Marketing and...
Kindle Edition
$$
Cover image
The Disruptive Innovation Set (2 Books)
Save
This classic work explores the challenges faced by established companies when faced with disruptive technologies. It provides a framework for understanding how incumbents can avoid the pitfalls and embrace innovation.
The Disruptive Innovation Set (2 Books)
Paperback
$$
The Disruptive Innovation Set (2 Books)
Kindle Edition
$$
Lean Startup: How Today's Entrepreneurs Use...
Save
This practical guide introduces the Lean Startup methodology, which emphasizes rapid iteration, customer feedback, and data-driven decision-making. It is essential reading for entrepreneurs and product developers who want to increase their chances of success.
The Lean Startup: How Today's Entrepreneurs Use...
Hardcover
$$
The Lean Startup: How Today's Entrepreneurs Use...
Kindle Edition
$$
Cover image
Innovation by Design
Save
Provides a step-by-step guide to the design thinking process, which human-centered approach to problem-solving and innovation. It is valuable for understanding how to generate and develop new product ideas.
Innovation by Design: How Any Organization Can...
Paperback
$$
Innovation by Design: How Any Organization Can...
Kindle Edition
$
Cover image
The Product Book
Save
This comprehensive guide covers all aspects of product development, from ideation to launch. It provides practical advice on how to define product requirements, create prototypes, and test products with users.
The Product Book: How to Become a Great Product...
Paperback
$$
The Product Book: How to Become a Great Product...
Kindle Edition
$
Cover image
HBR's 10 Must Reads on Technology and Strategy...
Save
Explores the role of luck in innovation and provides insights into how companies can increase their chances of success by focusing on customer needs and creating products that meet those needs.
HBR's 10 Must Reads on Technology and Strategy...
Kindle Edition
$$$$
Cover image
Traction
Save
This practical guide is designed to help startups acquire their first customers. It provides a step-by-step framework for identifying target customers, developing marketing strategies, and measuring results.
Traction: How Any Startup Can Achieve Explosive...
Hardcover
$$
(Français) Traction - Comment toute start-up peut développer...
Kindle Edition
$$
(Italiano) Traction. Le strategie vincenti per ottenere una...
Paperback
$$

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Course image
Rating
4.3 Filled star Filled star Filled star Filled star Empty star
Effort
3 to 5 hours per week for 6 weeks
Level
Introductory
Via
edX
Institution
Indian Institute of Management Bangalore
Instructor
Ganesh N Prabhu
Language
English
Transcript
English
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Provides a systematic process for planning, designing, and launching products, addressing key challenges in new product development, including organizational integration, time-to-market reduction, risk management, and customer demand creation
Focuses on practical applications and strategies to enhance competitiveness in diverse industries
Taught by instructors recognized for expertise in product development and innovation
Suitable for professionals, entrepreneurs, and students seeking to expand their knowledge in product management and launch successful new products or services
Facilitates the understanding of product life cycles and the impact of technology advancements on product development
May require prior knowledge in product management or related fields to fully benefit from the course
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