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 using Design Thinking methods. Topics covered include: design thinking, stage-gate and agile innovation processes, opportunity identification, qualitative and quantitative agile design research methods, idea generation and screening, new product concept prototyping, concept testing and optimization, new product forecasting (including innovation diffusion models and simulated test markets), brand extendibility, new product launch plans, and business cases. A series of group projects enables students to apply these tools on an actual client “lab” project.
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, food and beverage, household consumer products, mobile devices, telecom, consumer durables, software, medical products, and financial services.
Winter 2023 Timeline
- Group projects are real-world innovation projects from leading company sponsors across a range of industries. Student teams work closely with their clients, under the guidance of a faculty coach, to uncover unmet customer needs, generate ideas, develop new product/service concept prototypes, test those concepts quantitatively with a representative group of target consumers using a professional market research firm, and make recommendations to their clients. Expect to spend ~10 hours/week outside of class.
- A webinar will be held over lunch on Tuesday October 25 to give details about the class and application process.
- Applications are due by midnight on Wednesday October 26
- Acceptances are announced on Tuesday November 1.