This course addresses topics around the management of new as well as existing products. After the foundations of product management, especially the product choice behavior of customers, students get to know in detail different steps of the innovation process. Another section regards the management of the existing product portfolio.

Students

- know the most important terms of the product and innovation concept

- understand the models of product choice behavior (e.g., the Markov model, the Luce model)

- are familiar with the basics of network theory (e.g. the Triadic Closure concept)

- know the central strategic concepts of innovation management (especially the market driving approach, pioneer and successor, Miles/Snow typology, blockbuster strategy)

- master the most important methods and sources of idea generation (e.g. open innovation, lead user method, crowdsourcing, creativity techniques, voice of the customer, innovation games, conjoint analysis, quality function deployment, online toolkits)

- are capable of defining and evaluating new product concepts and know the associated instruments like focus groups, product testing, speculative sales, test market simulation Assessor, electronic micro test market

- have advanced knowledge about market introduction (e.g. adoption and diffusion models Bass, Fourt/Woodlock, Mansfield)

- understand important connections of the innovation process (cluster formation, innovation culture, teams, stage-gate process)

The assessment is carried out (according to §4(2), 3 SPO) in the form of a written open book exam.

Total effort for 3 credit points: approx. 90 hours

Presence time: 30 hours

Preparation and wrap-up of LV: 45.0 hours

Exam and exam preparation: 15.0 hours

For further information please contact Marketing & Sales Research Group (marketing.iism.kit.edu).

Homburg, Christian (2016), Marketingmanagement, 6. Aufl., Wiesbaden.