MKTG 408 - New Product Development

Prerequisite, MKTG 304, or MKTG 305. New products and services are essential to increase sales, profits and even company survival rate in many industries. Unfortunately, the failure rate of new product/service introductions is increased because of a lack of understanding of the new product development process itself. This course examines new product/service development form opportunity identification through launch. Best industry practices, development team dynamics, integration of products and services to offer higher value/benefits to users, sales forecasting and a semester-long marketing plan project are all cornerstones of the course. (Offered every year.) 3 credits