Lappeenranta, Finland

Creativity, Innovation, Entrepreneurship in New Product Development

This course is designed to explore three critical business topics related to product management strategy in marketing: (1) understanding the concept of product strategy within the framework of marketing strategy, (2) new product development based on the design and development of new ideas for product/service innovations, and (3) the management of new and existing products and services for sustainable business. First, we will review the concept of product strategy related to marketing strategy. Second, topics in new product development include idea generation and screening, design, planning, and prototyping, and new product roll-out, as well as the development of marketing strategies and implementation plans for new products and services. Third, management of new and existing products involves in integration of new products into the product line, management of the marketing mix, quality of service, and customer development strategies. Throughout this project-based course, the importance of creativity, innovation and entrepreneurship will be emphasized as the sources of initiating and managing new products and innovation.
The objectives for this course are as follows:
- To understand important elements of marketing strategy that is related to product management.
- To develop an in-depth understanding of new product/service development and management.
- To understand and utilize a process-oriented framework for making new product/service development decisions.
- To enhance business communication skills through preparation and presentation of new concepts for products and services via prototyping as well as its marketing plan.

Course leader

Subin Im, Professor and Department Head of Marketing, University of Tennessee-Chattanooga, USA

Target group

M.Sc. 2 (suitable for postgraduates)

Course aim

Learning outcomes:At the completion of this course, students will be able to:
- Grasp the concept of creativity and creative process to address creative challenges in new product development.
- Learn techniques for generating creative ideas using different methods.
- Create an organizational and team context for recognizing and unleashing creativity, and for developing innovation by collaboratio .

Fee info

EUR 779: EUR 669 for partner-universities students
10% Early-bird discount by 1.3.2024