|Module / ECTS / Path / Specialisation||Module :Product management : 5 ECTS.|
|Discipline||Sales and Marketing|
|Open for visitors||yes (5 ECTS)|
|Working language :||English|
|Volume of contact hours :||27 h|
|Workload to be expected by the student :||81 h|
Track : Attendance
|LEARNING GOAL 1 : Students will master state-of-the-art knowledge and tools in management fields in general, as well as in areas specific to the specialized field of management.|
|Students will identify a business organization’s operational and managerial challenges in a complex and evolving environment.|
|Students will understand state-of-the-art management concepts and tools and use them appropriately.|
|Students will implement appropriate methodologies to develop appropriate solutions for business issues.|
|LEARNING GOAL 2 : Students will develop advanced-level managerial skills.|
|Students will work collaboratively in a team.|
The course is designed to provide an understanding of the requirements, issues and tools involved in managing existing products/ services. The course also approaches developing new products and introduces the issue of managing innovation.Strategy, management and marketing issues will be covered.
- Define a product concept
- Discuss the key strategic issues of NPD
- Recognize managerial implications
- Criticize classical product management tools
- Appraise the drivers of product success
S1 The product in theory
What is a product? How to classify a product? How do consumers discriminate between products?
Concepts: Role of branding, Copeland's classification, core product/ actual product / augmented product, product vs service
S2 Product strategy
How to achieve and maintain a competitive advantage? How to manage the product-mix?
Concepts: Product life cycle, Experience curve, BCG matrix, McKinsey.
S3 Organisation for New Product Development
Business strategy for NPD and business process for NPD.
Basic knowledge: the pioneer advantage (does it exist?), radical vs incremental innovation, product management life cycle model.
S4 New product strategy
What are the drivers of product innovation?
Concepts: creativity vs innovation, lead user, open innovation, co-creation
S5 Product testing
How to test a product concept?
Concepts: experiment in class
S6 Product launch
The 3A’s of product launch: How to arrange, activate, announce a product launch? How to evaluate a product success?
Concepts: impact of pre-announcement, communication tools, some product performance metrics.
No pre-requesites are required but some basic knowledge on marketing, management and strategy would be helpful.
Some basics in marketing, strategy and management.
Baker Michael and Hart Susan (2007), Product Strategy and Management, FT/Prentice Hall, 2nd Edition.
Crawford and Di Benedetto (2011) New Products Management, McGraw-Hill.
Research articles and case studies provided in class.
Such behaviors as...
... may lead to expulsion from classes.