Product Development & Innovation

Lehrinhalte

The course covers the following topics:
1. Introduction:
- Product definition
- Why do we need new products?
- Types of new products
- The product life cycle
- The New Product Development Dilemma
- Why products fail?
- Why products succeed?
2. Understanding Consumer needs for new products:
- Consumer's needs, wants, and demands
- Consumer markets and consumer buying behavior

3. Building New Product Concepts
- Concept development
- Developing new products
- Developing ideas for new products
- Concept development and testing
- Business analysis for new products: estimating costs and sales

4. The product development process:
- Implementation
- Market entry timing
- Market entry location
- Introductory marketing strategy
o Developing a marketing strategic plan
- The consumer adoption process
- Commercializing a new product:
o Target market prospects
- The Adoption Process:
o Adoption stages
o Forces that influence adoption

5. Innovation and Innovation Management processes

6. Drivers of Innovation

7. The Concept of Entrepreneurship and Creativity

Studiengang

Bachelorstudiengang Unternehmensführung in der Tourismus- und Freizeitwirtschaft