Credits: 3 (3-0-0)
Description
Module I: Framework for changing environment, Criteria and perimeter definition for relevance, Idea potential Recognition, Incorporating environmental factors into idea development, Venture life cycle of ideation, planning, implementation, Understanding socio- cultural, politico-legal & economic dimensions of the environment, opportunities and challenges, Macroeconomic indicators relevant to an idea, Demand estimation for emerging market, Policy regime changes and opportunities, Global Economic Environment impact on Indian markets, Changing Social Paradigms & Evolving Technology.
Module II: Understanding consumer behaviour as a prerequisite for marketing plan and strategy, Consumer discovery: Consumer location, Market analytics, Psychographic and demographic profile, Income levels, geography and culture); Product knowledge and involvement; Reasons for the purchase; Decision making process of the consumer, Pain points of potential consumer. Pricing, Product features, Service quality, Delivery, Consumer need analysis, Consumer’s environment (Physical and social), Cultural influences, Family influence, Family decision making, Demographic changes in family, Consumer socialisation.
Module III: Ideation Process, Creative thinking, Individual vs. group creativity, Tools and techniques for creativity, Creativity Management, Evaluation of creativity methods, Fostering a creative working environment, Organizing to allow and assist creativity, Creativity and idea generation. Challenging assumptions, Ideation as personal journey and purpose-oriented way of life, Leading change, Idea in the context of environmental dynamics, Idea to lead change, Ideation Framework, Ideation as process and a way of life, Tools for Ideation, Context for idea generation, Approach to generation of ideas, Techniques to generate ideas, ideation process, idea repository.
Module IV: Prototyping, Cycle time of development, Product Development Process, Identifying Customer Needs, Product Planning, Product Specifications and Concept Generation, Prototyping, Concept Selection and testing, Peer Concept Review, Product Architecture, Industrial Design, Design for Environment, Design for Manufacturing, Time to manufacture, Early Demand Forecasting for New Products, Product development economics.