This course revolves around the managerial challenges with respect to new product development phases like idea generation, introduction, product commercialization, and even deletion. The course will equip students with the ability to make managerial decisions at each phase.

After completing this course, the student will be able to:

1. Recite the basis of product development strategy.
2. Recognize the various stages of the product life cycle.
3. Apply knowledge of product management to identify the major reasons of product failures despite huge investment upfront and a very good product.
4. D how to develop, screen and test new product ideas.
5. Compare and contrast alternative solutions to business problems.
6. Evaluate the role of a product manager at different stages of new product development.
7. Discuss when and how to delete a product.

1. The product life cycle in theory and practice
2. Importance of nature and management of the new product development process
3. New product strategy
4. Idea management for new product development
5. Screening new product ideas
6. Concept development and testing: Case discussion
7. Business analysis, cannibalization
8. Multivariate statistical tools for business analysis
9. Commercialization
10. Managing growth
11. Managing the mature product
12. Controlling the product line: An overview of the deletion process
13. Reaching the decision to delete a product and implementing deletion

Baker, M. and Hart, S. (2007) Product Strategy and Management. 4^th Edition. Essex, UK, Pearson.

Crawford, M. C.and Di Benedetto, C. A. (2020) New Product management. 12^th Edition, McGraw Hill International.