New Product Development

Woman drawing flow chart on glass board

ABUS 4509

Credits
3
Delivery Method
Fully online
Cost
Tuition | Fees
Terms
Resources

About This Course

This course will focus on the sequence of events that starts with the original idea or innovation for a new product or service and ends with the commercialization or “launch” of the final product. The emphasis will be on innovation, strategic product development, using a multidisciplinary project team approach, listening to the customer, and successful project implementation. Over 70 percent of new products or services fail within the first two years of commercialization, primarily due to a lack of differentiation from what's already available and a poorly organized launch plan. New, innovative products or services retain customers and attract new ones. Firms need to develop new products or services in order to compete more effectively against competitors who offer lower prices or other new products.

After this class you will be able to identify new product or service opportunities and translate customer needs into the new product specifications. The course will focus on the stages of development that each new product must pass through and the activities that each functional area of the firm (e.g., R&D, manufacturing, finance, marketing, operations, customer service, sales) must perform in order to produce a successful idea all the way through to product launch. Case studies from multiple industries will be available.

Instructor

Gordon Flanders Photo
Gordon Flanders

D.B.A., University of Phoenix; M.B.A., Carlson School of Management; B.A., Augsburg College

Gordon Flanders teaches courses in marketing, market research, international business, consumer behavior, strategic management, advanced management seminar, critical thinking and decision making, selling and sales management, and macroeconomics. He is a tenured assistant professor of business and winner of a Merit Award for excellence in teaching, service, and research at Montana Tech of the University of Montana. Before working in academia, Dr. Flanders spent 20 years at 3M/Imation, where he earned the Circle of Technical Excellence Award and three Golden Step Awards for successful new product launches. The new products he launched have also won industry-specific awards for innovation and a US government environmental award.

  • ABUS 4101 − Accounting and Finance for Managers

  • ABUS 4151 − Innovation for Leaders and Organizations

  • ABUS 4509 − New Product Development