Every year, companies launch thousands of new products. Many firms consider innovation the lifeblood of their business although failure rates of up to 80% are not uncommon. In this course we study what it takes to successfully develop products and bring them to the market. Specifically, we discuss how companies can translate customers' needs into product concepts, and how they can produce and supply the new products in a cost-efficient yet customer-oriented manner. The course addresses the strategic, marketing, and operational decisions that lie at the core of this process.