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There are 5 modules in this course
This third course in the product development specialization discusses the business side of product development. The course begins with an overview of marketing and pricing strategies, and how company’s price their products today. Learners are then introduced to the project’s financial business case, defining key financial metrics such as NPV, IRR and Payback Period. The course then shows how to make an effective presentation these to the executive office for funding. The course concludes with a discussion of sustainability and how to design innovative products for a circular economy. Throughout the course, the student is challenged to continue developing their own product idea, one they have followed throughout the specialization.
This course can be taken for academic credit as part of CU Boulder’s Master of Engineering in Engineering Management (ME-EM) degree offered on the Coursera platform. The ME-EM is designed to help engineers, scientists, and technical professionals move into leadership and management roles in the engineering and technical sectors. With performance-based admissions and no application process, the ME-EM is ideal for individuals with a broad range of undergraduate education and/or professional experience. Learn more about the ME-EM program at https://www.coursera.org/degrees/me-engineering-management-boulder.
Module 1 begins with an overview of the course and how it works. It then introduces several principles of Marketing, including the 4 and 5 "P's" of marketing. The course then looks at pricing strategies and how companies establish price. Customers within a market buy for different reasons, and the idea of market adoption is introduced with segments such as Innovators, Early Majority, and the Laggards. The module concludes with students constructing a tri-fold marketing brochure suitable for a tradeshow event.
Product Challenge #1: Creating a Marketing Brochure•60 minutes
1 discussion prompt•Total 10 minutes
Introduce Yourself!•10 minutes
Building the Business Case
Module 2•5 hours to complete
Module details
Module 2 introduces the process for creating a financial business case for a product development project. This involves estimating future sales, costs and then based on the resulting cash flows, the project's financial viability using financial metrics such as NPV, IRR and the Payback Period.
What's included
9 videos1 assignment1 programming assignment
Show info about module content
9 videos•Total 111 minutes
Module 2 Introduction•3 minutes
Building the Business Case — Part 1•17 minutes
Building the Business Case — Part 2•16 minutes
Overview of Discounted Cash Flow Analysis•11 minutes
Net Present Value•15 minutes
The Internal Rate of Return•14 minutes
The Payback Period•13 minutes
Forecasting Future Sales — The Bass Model Part 1•11 minutes
Forecasting Future Sales — The Bass Model Part 2•10 minutes
1 assignment•Total 30 minutes
NPV, IRR and Payback Period•30 minutes
1 programming assignment•Total 180 minutes
Marketing Challenge •180 minutes
The Product Development Proposal Presentation
Module 3•2 hours to complete
Module details
Module 3 shows the steps to prepare a product development presentation proposal suitable for presentation to upper management or investors.
What's included
4 videos1 peer review
Show info about module content
4 videos•Total 37 minutes
Module 3 Introduction•2 minutes
The Proposal Presentation — Part 1•14 minutes
The Proposal Presentation — Part 2•10 minutes
Your Final Project•11 minutes
1 peer review•Total 60 minutes
Practical Challenge #2: Creating a Physical Prototype•60 minutes
Product Development and the Circular Economy
Module 4•3 hours to complete
Module details
Module 4 introduces the concept of the Circular Economy, and how it differs from today's Linear Economy. The 3 Principles of the Circular Economy are described using examples of how they are applied. A more detailed view of the Circular Economy is presented using the Ellen MacArthur Foundation's Butterfly Diagram, highlighting the Technical and Biological Nutrient Cycles as foundational to circular product design.
What's included
5 videos1 assignment1 peer review
Show info about module content
5 videos•Total 64 minutes
Module 4 Introduction•3 minutes
Introduction to the Circular Economy•22 minutes
The Three Principles of the Circular Economy•14 minutes
The Butterfly Diagram — Part 1•14 minutes
The Butterfly Diagram — Part 2•10 minutes
1 assignment•Total 30 minutes
Sandra Goldmark and her TED Talk•30 minutes
1 peer review•Total 60 minutes
Circular Solutions and the EMF•60 minutes
Sustainability and Product Development
Module 5•2 hours to complete
Module details
Module 5 links product development to environmental and social sustainability. The module begins by providing an overview of the sustainability imperative, essentially arguing why we as product developers need to focus on more sustainable products and services. The concept of "The Anthropocene" is introduced, as a description of how human activities are now shaping the planet's natural processes. Sustainability is then defined in terms of environmental and social responsibility. The module concludes with an overview of sustainable products, beginning with a case study of a typical t-shirt.
What's included
8 videos1 reading
Show info about module content
8 videos•Total 111 minutes
Module 5 Introduction•3 minutes
The Sustainability Imperative•20 minutes
Welcome to the Anthropocene•19 minutes
Now Some Good News•23 minutes
Sustainability Defined•15 minutes
Sustainability and Product Development — Part 1•13 minutes
Sustainability and Product Development — Part 2•14 minutes
Course Wrap-Up•5 minutes
1 reading•Total 10 minutes
Carbon Trust — Continental Clothing Carbon Case Study•10 minutes
Earn a career certificate
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Build toward a degree
This course is part of the following degree program(s) offered by University of Colorado Boulder. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
View eligible degrees
Build toward a degree
This course is part of the following degree program(s) offered by University of Colorado Boulder. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
¹Successful application and enrollment are required. Eligibility requirements apply. Each institution determines the number of credits recognized by completing this content that may count towards degree requirements, considering any existing credits you may have. Click on a specific course for more information.
CU Boulder is a dynamic community of scholars and learners on one of the most spectacular college campuses in the country. As one of 34 U.S. public institutions in the prestigious Association of American Universities (AAU), we have a proud tradition of academic excellence, with five Nobel laureates and more than 50 members of prestigious academic academies.
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What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.