FSK-3010 Market-oriented product development and innovation - 10 ECTS
Innovation and new product development are critical to the success of individual organizations, industries and societies. In an increasingly dynamic environment, being first to market or able to exploit market opportunities with innovative goods or services is essential. The interplay between raw material potential, market demand, problem solving and technical requirements is an extremely complex process whether the innovation is new to the world or an incremental development of existing products.
The course is built on social science theories and methods modelling how barriers and resources are influencing production, diffusion and adoption of new ideas and products among different customers in value chain related networks. The course presents marketing theories highlighting the relationship between market successes of new products and the firm¿s internal strategies, organization and network connections. The course does especially focus on the specific constraints and resources involved in seafood related product development.
The course will give empirical examples from the Norwegian seafood industry with the intention to show how theory can be both aid and a challenge in a real live seafood business.
What you learn:
When you have passed the exam, the candidates are expected have acquired the following knowledge, skills and competences
Knowledge and understanding about:
- Success factors for innovation and market oriented product development
- How to gain intelligence about food trends and new seafood product possibilities
- Familiarity with models of innovation and product development
- Methods of generating, evaluating and testing product ideas
- Strategies for launching a product, and evaluation of success
- A corporations internal and external prerequisites for innovative and market oriented behavior
- New research elements within the field of product development
- Developing business strategies for market oriented product development and market introduction.
- Managing the innovation process in an organization
- Writing analysis of the drivers and barriers in the new product development and innovation process from the stage of technical development to market launch.
- Analyzing drivers, opportunities, constraints and strategies for successful market oriented product development with extra competence in seafood value chain.
4 hour written school exam (60%) and termpaper (40%). The grading scale is A-F, where A-E is passed, and F is failed.
Coursework requirements: There will also be a two week home assignment. Groups of 3-4 students work together. Evaluation: Pass/ Fail.
A re-sit exam will be arranged in the next semester.