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 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 learnings to a test provided.
