This module focuses on the early phases of new product and service development, from idea generation to launch. It uses the liberal arts analogies of Midas, Atlas, and Hermes to differentiate between high-end, mass, and price-sensitive customers.
Type of Material:
Open (Access) Textbook
This could be used as a required textbook for an entrepreneurship course, new product development course, or to support these courses as well as a market research course.
From this site, read online or download as PDF
Identify Major Learning Goals:
Comprehensive overview of new product development, with a focus on the economics of this subject. This open text is designed to support and assist students in understanding new product development, for both products and services. As such it also supports market research understanding and application.
Target Student Population:
College Upper Division, Graduate School, Professional
Prerequisite Knowledge or Skills:
Basic marketing and economics
The textbook contains relevant information that is grounded in marketing and economic theory. It references some important academic work in new product innovation. Some good specific examples are included. Well designed, graphics are clean and clear. Content development flows well.
Some graphs and content seems dated. Some major works in new product innovation are not included. While the first chapter includes learning objectives, the rest do not. Rather each opens with a brief narrative for the chapter materials.
Potential Effectiveness as a Teaching Tool
The textbook is logically organized and builds upon prior concepts. It does demonstrate the relationship between marketing, economics, and finance. It is easy to use. May download a pdf version for portability. Discussion and content is well designed and clearly presented. Each chapter has a brief outline conclusion of topics covered.
As an online text, it does not provide many exercises or other teaching support. Lack of learning objectives/outcomes per individual chapters. There are no discussion questions nor suggested activities included.
Ease of Use for Both Students and Faculty
This is very easy to use. The content can be viewed through a browser or downloaded as a pdf file. The site and pdf file are both clean, clear and easy to use. There is a clean and consistent layout to the content. It is easy to navigate via multiple perspectives--links to next content or via table of contents at the top of each page.
The file has some quality issues (changing fonts, blurry images, disjointed page breaks). The only interactivity is a few points when the reader is pointed to a blog and it is difficult to find what the author is referring to. Specific discussion questions, activities or assignments will need to be developed by the instructor. Since this material may be appropriate for several classes, this may actually lend the materials more flexible in use.
Other Issues and Comments:
Specific discussion questions, activities or assignments will need to be developed by the instructor. Since this material may be appropriate for several classes, this may actually make the materials more flexible in use.
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