New Product and New Service Development - MARK3091

Developing and introducing new products and new services is an important business function for many organisations. The purpose of this course is to examine new product and new service development from a strategic marketing and strategic management perspective. The course covers the strategic basis for product development including sources and types of innovation, market entry timing, product market structure and competition, disruptive and entrepreneurial innovation, and the development of new services and service bundles. The course also considers marketing research techniques for new product development including user and lead user analysis and conjoint analysis. Class activities include critical review of conceptual and research literature, analysis of case studies and development of a formal strategic market analysis for a new product or new service.