Main Field of Study and progress level:
Business Administration: Second cycle, has only first-cycle course/s as entry requirements
Grading scale: Pass with distinction, Pass, Fail
Responsible department: Business Administration
Contents
This course highlights the fact that new products have always been of interest to both academics and practitioners. Today the job title new products manager or director is becoming more common, and is offered much earlier than 10 or 15 years ago. Also, developments in several markets worldwide indicate that product life cycles are getting shorter. Consequently, firms have recognized the strategic importance of new products, time to market, and the role of teams in accelerating the new product development process. The speed and complexity of the development makes it important to have analytical models that integrate the stages of the new product process. This course, therefore, looks into the various stages of the development process starting from perceptual mapping, concept generation, selection of attributes through conjoint analysis, and segmentation and product positioning to the final launch stage.
Expected learning outcomes
By taking this course the students gain knowledge about product planning from a strategic perspective. To enhance students understanding of aspects that affect implementation of strategic plans this course highlights methods for management of product planning in companies of different sizes and product categories. Also integrated into this area is how to develop new products that fit current and future demands in the market. The students will, therefore, gain knowledge of how to set up and manage the development process, and how to avoid common pitfalls. After completing the course, the student should be able to:
Analyse and identify critical elements of the product development process.
Apply analytical tools for identification of trends in the market.
Select, and/or design organizational structures that fit the needs of product development projects.
Define the financial challenges associated with new product development
Required Knowledge
University: Courses in Business Administration (75 ECTS) At Basic level (A-level) and Intermediate level (B-level) a minimum of 60 ECTS in Management, Marketing, Accounting and Finance courses. At the C-level (Bachelor), a minimum 15 ECTS.
Language: Students are required to have adequate knowledge of English corresponding to English
B-level at Swedish Gymnasium, or, corresponding levels in internationally recognized tests of English proficiency such as the TOEFL - minimum score 550 on paper-based test and not below 4.0 on the TWE. Alternatively 213 on computer-based test or with Internet-based Test (iBT) Total score of 79 (Writing 17 or higher); IELTS Academic Training - minimum score 6.0 with no individual score below 5.0; or University of Cambridge/Oxford Certificate in Advanced English/Certificate of Proficiency/Diploma of English Studies as well as basic entrance requirements for higher studies in Swedish language proficiency if the course is taught in Swedish.
Form of instruction
Principal methods of instruction are lectures, seminars, and case discussions. The design of the course allows students to attend lectures, and discuss cases in small group settings. When appropriate, guest speakers will be invited to describe practical dimensions of product development processes. When working with the selected cases the students practice decision-making, and identification of solutions to challenges in the product development process. Seminars will be used to discuss scientific articles on new product developments. The students are expected to read the assigned material and participate actively in case and seminar discussions.
Examination modes
The examination of this course will be based upon the students active participation in seminars, attendance at lectures, a written comprehensive examination (tentamen), and successful completion of group or individual coursework as assigned. The examination, therefore, consists of:
A written comprehensive examination (tentamen)
A written project report
The following grading system will be used:
Pass with distinction (Väl godkänd, Vg, 75% or more),
Pass (Godkänd, G, 50% or more)
Fail (Underkänd, U, less than 50%).
In order to pass the course, the student must complete all parts of the examination i.e. reach 50% of the points of each part. To receive the grade pass with distinction, the student must reach at least 75% of the total points on the course.
In case of failure on seminar participation or individual and group assignments, compensating assignments must be completed in accordance with instructions given on each occasion.
Students who do not pass at the time of the normal written examination will be offered an opportunity to sit a further examination within 2-3 weeks. Beyond that, additional examination opportunities normally arise every academic year, one week prior to the start of the autumn term.
When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the director of studies no later than two weeks before the next examination opportunity.
Rules and regulations concerning the production of academic texts and correct referencing will be applicable to all written assignments.
Guest lectures during the course might be used as basis for examination.
Student who has passed an examination can not redo the examination to get a higher grading.
Grades on the course are awarded when students have passed all examinations and compulsory course elements.
Academic credit transfer.
Academic credit transfers are according to the University credit transfer regulations.
Other regulations
This is a course at the D-level in a MSc-degree at Umeå University. The course can also be included in study programs in Business Administration and Economics at Umeå School of Business.
Literature
The literature list is not available through the web.
Please contact the faculty.
