Course Overview
Corporate strategy for product planning, Management thinking on new products, Seeing product as part of the image of the company, Moving into future, Defining companies business. Technology transfer problems.SWOT analysis, Analysis of strength, weakness, opportunities and threat Brief introduction to assessing of companies financial performance. Study of product life cycle, Monitoring of sale and competition, when to introduce new products. Assessing market potentials for new products, Market research, Consumer research and its demographic aspects, Setting up a questonnaire for these aspects. Establishing market segments and their dimensions. Assessing competitors share and locating direct and indirect sources to understand this. Assessing competitors marketing approach and strategies. Developing a strategy to introduce new products, Using market gaps as competitive edge, Cost considerations and profitability of new products, Developing a product plan and product mix, Price policy, positioning the company, product positioning, planning for future position. Evolving a design brief by interlinking with market/product plan. Seeing product design as a part of a scheme to develop brand image, house style, marketing strategy and corporate image. Discriminating product range from each other and from competitor”s range. Developing product specifications for different products within the range. Market communication, Launching the product, Monitoring the market performance.
| Total Credits | 6.0 |
| Type | Theory |
| Lecture | 6.0 |
| Half Semester | N |
| Text Reference | Philips Kotler, Marketing, Agarwal I., Seminars on Product Planning Seminar Paper Levit Theodore, Marketing Imagination |
About Instructor
Prof. B.K. Chakravarthy
Prof. B.K. Chakravarthy teaches Innovation by Design at the Industrial Design Centre (IDC), IIT Bombay. He has set up the Shenoy Innovation Studio at IITB, where students and young designers are given the opportunity to work on live projects and benefit from expertise in a range of interrelated fields. Prof. Chakravarthy works closely with other academics engaged in cutting-edge research at IIT Bombay and has played a key role in translating such research into products that reach the hands of users. ‘A Collaborative Model for New Product Innovation’, an outcome of Prof. Chakravarthy’s doctoral research, has had wide application in the industry. Prof. Chakravarthy has also worked frequently with government departments and occupational communities engaged in essential services.
