New products and services are vital to all companies. Maximizing the success of new products and services can drive growth and shareholder value, lead to significant competitive advantage and leapfrog a company ahead of its competitors. However, innovation is risky and most new products fail in the marketplace. Often, failure is due to an ineffective process. Thus, expertise in the design and marketing of new products is a critical skill for all managers, inside and outside of the marketing department. In this course, the first focus on the tools and techniques associated with analyzing market opportunities and then focus on designing, testing, and introducing new products and services. Both quantitative and qualitative approaches are covered. In particular, the course covers the new product development process, strategic opportunity identification, how to generate new product concepts and ideas, mapping customer perceptions, segmentation, product positioning, forecasting market demand, product design, market entry strategies, and testing. It emphasizes how to lead the organization in the process, incorporate consumers, customers and competitors into all of these aspects of new product development.
23 Nov 2024
24 Nov 2024
Assignment: Comprehensive Literature Review Compilation for Master Project in New Product Development (NPD)
To effectively prepare for your Master Project and the subsequent review paper, please follow these detailed steps:
- Draft Your Master Project Title:
- Formulate a clear and concise title that encapsulates the essence of your research focus.
- Conduct a Comprehensive Literature Search in Scopus:
- Access the Scopus database through your institution’s library portal.
- Utilize the search function to input your project title or relevant keywords.
- Apply filters to refine your search results, such as publication date range, document type, and subject area, to ensure relevance.
- Select and Export References:
- From the search results, select at least 50 pertinent references.
- Click on the “Export” option.
- Choose the “Plain Text” format for export.
- Ensure that all selected documents are included and that the “Abstract” option is checked to provide comprehensive information.
- Proceed to export the file, which will typically be named “scopus.txt.”
- Organize References in Excel:
- Open the exported “scopus.txt” file using a text editor.
- Select all content, copy it, and paste it into a new Excel spreadsheet.
- Save the Excel file with a descriptive name related to your project.
- Prepare for Your Review Paper:
- Utilize the compiled references to conduct a thorough literature review.
- Analyze and synthesize the information to identify trends, gaps, and key findings in your research area.
- Draft your review paper, ensuring it aligns with the objectives of the New Product Development (NPD) course and is suitable for inclusion as a book chapter.
Additional Tips:
- Data Management: Ensure that the data is organized systematically in Excel, with separate columns for authors, titles, abstracts, publication years, and other relevant information.
- Reference Software Integration: Consider importing the references into a reference management tool like EndNote or RefWorks for efficient citation and bibliography management.
- Stay Updated: Regularly check for new publications in your research area to keep your literature review current and comprehensive.
By adhering to these steps, you will establish a solid foundation for your Master Project and contribute effectively to the collective knowledge in the field of New Product Development.
