New product development, this is a multidisciplinary course.

It covers areas like strategy, design, marketing and operations.

During this course, we will cover the product development process from idea to launch.

We will learn how to make new product process efficient and effective.

We will focus on both business and social value creation through new products and services.

Such courses are offered in business schools jointly with design and engineering schools.

So you can see that it involves multiple disciplines to create a new product.

What we'll see here is a product which we will take you through in terms of understanding how the product development process is done as well as how it is communicated to new customers.

So here you see what is called a bottle loft.

It's a product which is at the top of this picture.

You can see that there is a plastic strip with 3 magnets which are attached to the plastic strip.

This plastic strip is put with an adhesive on the roof of the refrigerator and you can see bottles are attached to it.

The idea of this product is that by using the adhesive and the magnets which are stuck to the roof of the refrigerator inside, it is possible to use the space which is below the bottles for other products.

So this particular company which launched this product is called Strong Like Bull Magnets and they have created a Kickstarter video which emphasizes the value of the space, saving and the use of the space under the bottles.

However, the video which they have used over emphasizes on the high strength of the flat magnets that are used by the company.

In fact, it is the company's name which is strong like bull magnets which is emphasized here and the video ignored the high strength of the special low temperature adhesive made by 3M which was also used by them.

Users are equally or more concerned about the strong adhesive holding 3 bottles on 1 strip as they are of the magnet holding 1 bottle.

Very high bond 3M adhesive is effective and it is a very appropriate product which is used out here but not as well emphasized as this company makes these strong magnets but not the 3M adhesive.

They had to make a choice on what to cover in a 1 minute video and they emphasize their own magnets over the equally good 3M adhesive that they had used.

But the adhesive is as important as the magnet from the user's point of view and therefore it being ignored in the video causes some dissonance.

A user-centric view rather than a product-centric view can resolve some of these common user dissonances.

It shows that the companies have to be more product-centric during the product development process, but then they have to be more user-centric in their marketing pitch to potential users.


Speaker 0: New product development, this is a multidisciplinary course. It covers areas like strategy, design, marketing and operations. During this course, we will cover the product development process from idea to launch. We will learn how to make new product process efficient and effective. We will focus on both business and social value creation through new products and services.

Such courses are offered in business schools jointly with design and engineering schools. So you can see that it involves multiple disciplines to create a new product. What we'll see here is a product which we will take you through in terms of understanding how the product development process is done as well as how it is communicated to new customers. So here you see what is called a bottle loft. It's a product which is at the top of this picture.

You can see that there is a plastic strip with 3 magnets which are attached to the plastic strip. This plastic strip is put with an adhesive on the roof of the refrigerator and you can see bottles are attached to it. The idea of this product is that by using the adhesive and the magnets which are stuck to the roof of the refrigerator inside, it is possible to use the space which is below the bottles for other products. So this particular company which launched this product is called Strong Like Bull Magnets and they have created a Kickstarter video which emphasizes the value of the space, saving and the use of the space under the bottles. However, the video which they have used over emphasizes on the high strength of the flat magnets that are used by the company.

In fact, it is the company's name which is strong like bull magnets which is emphasized here and the video ignored the high strength of the special low temperature adhesive made by 3M which was also used by them. What is the implication of this? Users are equally or more concerned about the strong adhesive holding 3 bottles on 1 strip as they are of the magnet holding 1 bottle. Very high bond 3M adhesive is effective and it is a very appropriate product which is used out here but not as well emphasized as this company makes these strong magnets but not the 3M adhesive. They had to make a choice on what to cover in a 1 minute video and they emphasize their own magnets over the equally good 3M adhesive that they had used.

But the adhesive is as important as the magnet from the user's point of view and therefore it being ignored in the video causes some dissonance. A user-centric view rather than a product-centric view can resolve some of these common user dissonances. What does this imply? It shows that the companies have to be more product-centric during the product development process, but then they have to be more user-centric in their marketing pitch to potential users.

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Week 1-Introduction