MKTG 408 - New Product Development

Prerequisite, MKTG 304 or MKTG 305, with a minimum grade of C-. 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. Letter grade. (Offered every year.) 3 credits