Innovation, product and service development

Course title
Innovation, product and service development
Course tag
Course status
Independent work
Teachers and associates
Msc Mario Fraculj, Lecturer
The course aims
For all business organizations, especially those related to technology in the broadest sense, the development of new products and services and the successful management of innovations are the basic preconditions for long-term development and survival. The aim of the course is to familiarize students with basic concepts, methods, tools and best practices in developing new products and services, which is a complex process that requires multifunctional collaboration and interdisciplinary skills. By participating in discussions and analyzing case studies, students will master the underlying marketing concepts by deepening their understanding of the strategic and management aspects of innovations that create value on existing and emerging markets and enable company to grow and retain its competitive edge.
Innovation management Turning technology into business New product development
Paul Trott: Innovation Management and New Product Development'', 6th edition, Pearson International, 2017
Supplementary literature
Karl T. Ulrich and Steven D. Eppinger: „Product Design and Development“, 6th edition, McGraw-Hill Education, 2016

Peter F. Drucker: "Innovation and entrepreneurship", HarperBusiness, 2006

Velimir Srića: "Creativity and Innovation Management: A Storytelling Approach", Kindle Store on Amazon (digital book), 2016

Journal of Product Innovation Management

Minimum learning outcomes

  1. Explain the importance of innovation in creating sustainable competitive advantage and describe the process of developing new products and services
  2. Describe the role of organizational knowledge management and intellectual property protection in the context of the new product development
  3. Understand the importance of market research and brand strategy in the process of developing new products and services

Preferred learning outcomes

  1. Develop mature and critical understanding of concepts and tools in the process of developing new products and services and managing innovation activities of the company
  2. Use organizational knowledge of the company and identify which forms of intellectual property protection can be used in specific situations of new product development
  3. Interpret the results of market research, identify opportunities for developing new products and services and innovating the business model