Tuesday 11:00-12:00, Thursday 1:00-2:00
Additional office hours by appointment.
Additional office hours by appointment.
Project Sponsor: Mattel/Fisher Price
Project Sponsor: Mattel/Fisher Price
TR, 9:30am to 10:45am
Class will not meet on:
Class will meet on:
This course deals with the challenge of bringing to market elegant and efficient solutions to strong customer needs. This challenge is fundamental in customer-centric innovation, and is relevant whether you work for a startup or a large company, whether you sell products or services, and whether your customers are individual consumers or companies.
We focus primarily on state of the art frameworks, concepts and tools that have been recently validated by innovative companies. We structure our learning around the following basic steps of the innovation process:
1. Opportunity identification
2. Idea generation
Instead of inundating you with required readings, I have selected only a few that are critical for your understanding of the NPD process. In return, I expect in-depth, critical reading and not skimming the material while on the treadmill.
To best use our time together in class, I will post lecture slides for you to read ahead of time. This will enable everyone to learn from each other during class time rather than me trying to keep you awake with a song and dance in the front of the room.
Packet of Cases and Articles: Available at the NYU Bookstore.
The packet of cases only include materials not available online through the NYU bookstore to help defray the cost. Links to online materials are in the syllabus.
Principles of Marketing Engineering, 2nd ed., by Gary Lilien, Arvind Rangaswamy, and Arnaud De Bruyn (Only about $30 at http://www.decisionpro.biz/products/books/)
One nice thing about learning about new product development is the wealth of resources available on the subject. Here is a list of some good reads for your edification. To risk a cliche, what you get from the class will depend greatly on how much you are willing to put in.
Look at More: A Proven Approach to Innovation, Growth, and Change by Andy Stefanovich
Disrupt: Think the Unthinkable to Spark Transformation in Your Business by Luke Williams
The Four Steps to Epiphany: Successful Strategies for Products that Win by Steven Gary Blank.
Innovation Tournaments: Creating and Selecting Exceptional Opportunities by Christian Terwiesch and Karl Ulrich
Why Not? How to Use Everyday Ingenuity to Solve Problems Big and Small by Barry J. Nalebuff, Ian Ayres, and Ian Ayres.
Winning at New Products: Creating Value Through Innovation by Robert Cooper
Principles of Marketing Engineering by Gary Lilien, Arvind Rangaswamy, and Arnaud De Bruyn.
Design and Marketing of New Products, 2nd ed., by Glen Urban and John Hauser.
New Products Management, 8th ed., by Merle Crawford and Anthony Di Benedetto.
Will and Vision: How Latecomers Grow to Dominate Markets by Gerard Tellis and Peter Golder.
Stanford D-School bootcamp bootleg http://dschool.stanford.edu/use-our-methods/.
A course web site is available on Blackboard. This site contains the course syllabus. All other important material will be available through Google Docs and will be linked in the sylllabus.
Group Project (40%)
The centerpiece of the deliverables in this course is a group project. This is an undertaking you will begin on the first day of class with the formation of product groups, culminating in the presentation of a new product idea to both myself, your classmates, and a sponsor. The sponsor company will be providing us with a general topic/need in which innovative new product development will be the key in addressing consumer needs. This is not merely an academic exercise; this is a real problem, and your group’s evaluation will depend on not only my evaluation but also the evaluation of the firm’s managers who hope to use our ideas in addressing the need. There will be deliverables throughout the semester with a final report and presentation, all of which together will count for 40% of your grade.
To succeed in the marketplace, an offering needs to meet three criteria as illustrated by the Venn diagram below:
The idea is to prototype, test and iterate until your offering satisfies all three conditions. Your
report and presentation should touch on all three areas and provide solid evidence that (1) there is potential consumer demand, (2) you can create value for the company, and (3) the offering is technically feasible.
We will have frequent check-ins during the course, so that I can provide you with timely feedback on your progress. There will be also several in-class opportunities to solicit input from your classmates.
Final Report Guidelines are available here.
Class Contribution (25%)
The best learning experiences occur when students participate actively. You must be prepared to discuss all assigned readings and cases. Your comments should reflect a depth of understanding indicative of thorough analysis (including number crunching) and most often discussions with other students prior to class. You should be prepared to articulate and defend your position when called on to do so. Active participation of all students is required but quality and frequency of comments is more important than duration of each comment. The ability to speak comfortably to a group is a vital business skill. If you are anxious about public speaking, the only way to get better is to practice. The best way to reduce your anxiety is to be thoroughly prepared.
These are the elements I will consider in evaluating your participation:
Rules of Class Discussion: Putting down legitimate comments (those not intended to be humorous) is unacceptable. Everyone's input, if not repetitious, must be valued and encouraged. Feel free to question or disagree with other students, however, such disagreement must be based on the idea and not the person. Respect for your fellow students is the sine qua non of great discussions and great learning experiences.
In addition to in class contributions, a Facebook group has been created where you
may contribute to your classmates learning by sharing interesting materials and links, http://www.facebook.com/groups/nyusternnpdub/. The membership of the group is public but all posts are private. This forum is for you to post your own innovative ideas, new products or concepts you have seen recently which appealed to you, interesting articles related to NPD, etc. The goal is for the content to spark discussion. Commenting on others’ posts is encouraged (with the same guidelines as the class discussion). Posting is not mandatory but will be accounted for in evaluation of your class contribution. In addition, I will be selecting some of your posts for in-class discussion.
|28-Jan||Introduction||Stanford D-School exercise|
|11-Feb||Interpreting observational data. POVs||
Speaker: Luke Williams
|18-Feb||Translating insights into new products||
Speaker: Winston She
|Evaluation of Opportunities I|
The investment perspective
Refining the Product Concept.
Targeting and Positioning
Case: Green Ox
|Mid-term presentations to sponsor|
|1-Apr||Conjoint analysis, Concept testing||Speaker: TBA|
Sales forecasting for non-durables
|15-Apr||Diffusion of new products.||
Product distribution and pricing
Innovative marketing strategies Managing a product portfolio
|6-May||Project presentations.||Project presentations.|
At NYU Stern we seek to teach challenging courses that allow students to demonstrate their mastery of the subject matter. In general, students in undergraduate core courses can expect a grading distribution where:
Note that while the School uses these ranges as a guide, the actual distribution for this course and your own grade will depend upon how well you actually perform in this course.
Integrity is critical to the learning process and to all that we do here at NYU Stern. As members of our community, all students agree to abide by the NYU Stern Student Code of Conduct, which includes a commitment to:
The entire Stern Student Code of Conduct applies to all students enrolled in Stern courses and can be found here:
Undergraduate College: http://www.stern.nyu.edu/uc/codeofconduct
Graduate Programs: http://w4.stern.nyu.edu/studentactivities/involved.cfm?doc_id=102505
To help ensure the integrity of our learning community, prose assignments you submit to Blackboard will be submitted to Turnitin. Turnitin will compare your submission to a database of prior submissions to Turnitin, current and archived Web pages, periodicals, journals, and publications. Additionally, your document will become part of the Turnitin database.
Your class may be recorded for educational purposes
If you have a qualified disability and will require academic accommodation of any kind during this course, you must notify me at the beginning of the course and provide a letter from the Moses Center for Students with Disabilities (CSD, 998-4980, www.nyu.edu/csd) verifying your registration and outlining the accommodations they recommend. If you will need to take an exam at the CSD, you must submit a completed Exam Accommodations Form to them at least one week prior to the scheduled exam time to be guaranteed accommodation.