Course Detail

New Products and Services (37200)

Course Description by Faculty

  • Terrill, Craig
  • Content
    The primary purpose of this course is to provide students with an in-depth understanding of state-of-the-art practices in new product & service innovation, with an emphasis on the early up-front stages of the innovation process. The course applies the Design Thinking framework and methodology. Topics covered include problem space defining, innovation processes, needs-driven opportunity identification, inventive opportunity identification, customer journey mapping, qualitative and quantitative agile design research methods, iterative ideation, idea screening model, new product concept prototyping, concept optimization and testing, new product forecasting methods (including innovation diffusion models), growth hacking for new channels, brand/promotion/customer acquisition for early adopters, and new product business cases and launch plans.

    This course covers tech, consumer, and business-to-business products and services (with an emphasis on tech and consumer products/services), including examples from mobile apps, e-commerce, fin tech, food and beverage, household consumer products, services, software, healthcare, and financial services.

    Students select and work on a group project to address an innovation design challenge. Projects are inspired by recent situations in tech, consumer, and services sectors and provide realistic and relevant experiences in the market space pursued for new innovation. Using a Design Thinking approach, students will complete three sequential and related group assignments to uncover opportunities for innovation, define design and problem parameters, generate ideas, develop new product/service concepts, test those concepts with a representative group of target consumers, generate a forecast for their top concept, and develop & present a business case in-class.

    For the two individual “take-home” assignments, the first enables each student to apply Design Thinking principles to their own personal startup idea or new product idea. The second enables each student to apply course concepts to a case situation provided.

    Format
    • Lectures

    • Discussion

    • Case Studies

    • Group Projects

    • Group Presentations

  • Prerequisites

    Business 37000 or 37100: Can be taken concurrently. Not strict. Or relevant prior classes and/or marketing or new products experience can suffice (contact Professor). Cannot be taken if 37201 or 37810 have already been completed. Undergrads & Dougan Scholars not allowed - strict. Graduate Non-Booth students can enroll without instructor consent.

     

  • Materials
    This course includes pre-recorded lectures, text, case studies, and readings from practitioners and academics. Every effort is made to invite one or more practicing design thinking product developers as guest lecturers. Students use online platforms from several leading agile market research vendors. This course is an experiential learning course and emphasizes the practical application of product innovation and design thinking principles.
    Resources
    • Canvas Site Available

  • Grades
    70% of a student’s grade is based on three group assignments. The quarter-long group project takes a new product from problem space through design research and concept prototyping and concludes with final new product recommendations. Group work is extensive in this course, and peer evaluations impact final grades. 20% of a student’s grade is based on individual performance on two (2) individual assignments. 10% of a student’s grade is based on individual class participation so weekly attendance is expected.

    There are no exams including no final exam. This course cannot be taken pass/fail. No auditors. Provisional grades are given subject to timely completion of assignments.
    Grades
    • Graded homework assignments

    • Graded attendance/participation

    • Mandatory attendance week 1

    • Allow Provisional Grades (For joint degree and non-Booth students only)

    Assessment & Testing
    • Final Project

    Restrictions
    • No auditors

    • No pass/fail grades

  • Syllabus
  • Spring 2023Section: 37200-85S 9:00AM-12:00PMGleacher Center404In-Person Only
Description and/or course criteria last updated: June 30 2022