PRODUCT AND PRICING DEVELOPMENT (3 SCU)

Learning Outcomes:

Upon successful completion of this course, students are expected to: be able to design the right product and pricing strategy based on market situation and brand positioning that has been set up previously; embed design thinking process  to generate innovative product breakthroughs; interpret the research results to make product launch decisions; design innovative product prototype concepts integrating the latest ICT trends; demonstrate effective team-work, leadership and communication skills in marketing.

Topics:

In digital era, product development means developing smart products that embbeded with software to create more interactive and connected product, employing new digitally-based tools that provide insights to user needs and the whole development process and creating digital technology platforms.  This smart connected product needs a different approach in pricing strategy to balance between consumers’ willingness to pay and the needs of company to delivery return on investment. The  course is designed to introduce the foundation of new product and pricing development as well as integrating them into the whole strategy of new product launching. The course is designed to equip the students with both theory comprehension and hands-on experience in preparing the mock new product launching.