Catalogue 2014 - 2015

BUS 423 Product Development and Innovation


3 cr.


Senior standing in the College of Business or Engineering.

Course Description

This course will cover new product innovation from both an entrepreneurship and intrapreneurship perspective. The course will have three components: a theoretical, a practical or clinical, and an application. The theoretical will consist of generating and identifying business opportunities; assessing concept ideas from technical, market, and financial perspectives; designing and developing new products; testing prototypes from technical and market perspectives; and developing a marketing plan including launch, monitoring, and measurement provisions. The practical or clinical component will consist of business-engineering student teams identifying consumer or business new product ideas of their own, from a faculty-generated list, or from local corporations. Selection of ideas is on the basis of the importance of the need, the novelty, the challenge, and commercialization potential. Teams will develop marketing plan to market their new product designs. The application component will involve presenting the final designs and plans to an expert panel of business executives, investors, and faculty.


Can not receive credit for taking BME 471 and ME 423.