NYU Stern School of Business

Undergraduate College

MKTG-UB.0060.001 (C55.0060): NEW PRODUCT DEVELOPMENT

Spring 2012

Instructor Details

Bollinger, Bryan

bbolling@stern.nyu.edu

(212) 998-0519

TBA

Tisch 912


 

 

Course Meetings

TR, 2:00pm to 3:15pm

Tisch T-UC19


Final Exam:

Schedule exceptions
    Class will not meet on:
    Class will meet on:

 

Course Description and Learning Goals

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

3. Design

4. Testing

5. Launch

 

Required Course Materials

Required Readings

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. 

Required Books

Packet of Cases and Articles: Available at the NYU Bookstore.

Other Resources

Will and Vision: How Latecomers Grow to Dominate Marketsby Gerard Tellis and Peter Golder. Two copies are on reserve in Bobst Library.

Principles of Marketing Engineeringby Gary Lilien, Arvind Rangaswamy, and Arnaud De Bruyn. A copy is on reserve in Bobst Library.

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.

Course Material on Stern Web Site

A course web site is available on Blackboard. This site contains the course syllabus. Other important course material like PowerPoint presentations and handouts will be posted during the semester.

 

Assessment Components

Class Contribution (20%)

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:

  1. Are you a good listener?
  2. Do you contribute to the learning environment by sharing your relevant business experiences and those you read about?
  3. Do your comments show evidence of thorough analysis?
  4. Do you ask constructive questions of other students that help to deepen everyone's understanding?
  5. Do you distinguish between different kinds of data (i.e., facts and opinions)?
  6. Are you willing to share ideas and information in a collegial fashion?
  7. Are you willing to test new ideas, or are all comments "safe" (e.g., a repetition of the case facts without new insights)?
  8. Are you willing to interact with your classmates to help refine ideas?
  9. Do your comments build on earlier comments to advance the discussion or are you merely repeating earlier comments or raising points that do not fit into the current discussion?
  10. Do your comments incorporate concepts presented in lectures, readings, and earlier cases?
  11. Do you make your points succinctly?

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.

Individual Assignments (40%)

·Select a company you are interested in and propose a growth strategy, backing up your arguments with data (you may want to use the R-W-W framework to organize your thoughts). The report is not to exceed 3 pages. (20%)

Group Project (40%)

The project is intended to replicate the entire development process of a new product/service. Please make sure to fully document the development process, including ideas which are not subsequently acted upon. Your project grade will be based on the final project report and the in-class presentation. I will be looking to determine how well you were able to identify customer needs, delineate a market, translate customer needs into a prototype, define the value proposition, test the concept and outline the launch strategy. In addition, I will gather information from all team members on the relative contributions to the project and use appropriate weighting to arrive at the individual scores.

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. Here is a tentative timeline:

1/24-1/31         Form a team and decide on a vertical and place for needfinding research

1/31-2/7           Conduct observational research and depth interviews, synthesize

2/7                     Present your team’s findings and POV

2/7-2/28           Decide on a new product concept, prepare proposal

2/28                   Present new product proposal to class

2/28-3/29         Modify new product concept, prototype and iterate

3/29                   Present prototype at tradeshow, gather feedback

3/29-4/19         Conduct concept test, work on financials and marketing plan; iterate and refine

4/19-4/24         Prepare final presentation and report

4/24-5/1           Present final presentation

5/1-5/7             Finalize report

5/7                    Final report due

 

Course Outline

Schedule Overview

 

Date

Topic

Hand in/present

24-Jan

Introduction: Reasons for innovation.

 

26-Jan

The new product development process and challenges.

 

31-Jan

Identification and evaluation of markets.

Team composition

2-Feb

Understanding customer needs.

 

7-Feb

Interpreting observational data. Student presentations.

Empathy work and POV

9-Feb

Idea generation:Lead user analysis and Open innovation

 

14-Feb

Idea generation:Brainstorming versus ideation templates

 

16-Feb

Translating insights into a new product

 

21-Feb

Evaluation of Opportunities I

 

23-Feb

Evaluation of Opportunities II

 

28-Feb

Project proposal presentations

Project proposal

1-March

Refining the product concept and features

 

6-March

Perceptual Mapping

 

8-Mar

Conjoint analysis: Conceptual framework

Company growth strategy

20-Mar

Conjoint analysis: Conceptual framework and application

 

22-Mar

Conjoint analysis: Application

Conjoint assignment

27-Mar

Concept testing

 

29-Mar

Tradeshow

Product prototype

3-Apr

Sales forecasting for nondurables

 

5-Apr

Diffusion of new products.

 

10-Apr

Sales forecasting for durables.

 

12-Apr

Launch strategies

 

17-April

Challenges in marketing new products. Managing a product portfolio.

 

19-April

Project work time, group meetings with me.

Preliminary launch plan

24-April

Project presentations

 

26-April

Project presentations

 

1-May

Project presentations

 

3-May

Wrap up and lessons learned.

Final Report Due May 7

 

Group Projects

Guidelines for Group Projects

Business activities involve group effort. Consequently, learning how to work effectively in a group is a critical part of your business education.

Every member is expected to carry an equal share of the group’s workload. As such, it is in your interest to be involved in all aspects of the project. Even if you divide the work rather than work on each piece together, you are still responsible for each part. The group project will be graded as a whole:   its different components will not be graded separately. Your exams may contain questions that are based on aspects of your group projects.

It is recommended that each group establish ground rules early in the process to facilitate your joint work including a problem-solving process for handling conflicts. In the infrequent case where you believe that a group member is not carrying out his or her fair share of work, you are urged not to permit problems to develop to a point where they become serious. If you cannot resolve conflicts internally after your best efforts, they should be brought to my attention and I will work with you to find a resolution.

You will be asked to complete a peer evaluation form to evaluate the contribution of each of your group members (including your own contribution) at the conclusion of each project. If there is consensus that a group member did not contribute a fair share of work to the project, I will consider this feedback during grading.

 

Grading

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.

 

Re-Grading

The process of assigning grades is intended to be one of unbiased evaluation. Students are encouraged to respect the integrity and authority of the professor’s grading system and are discouraged from pursuing arbitrary challenges to it.

If you believe an inadvertent error has been made in the grading of an individual assignment or in assessing an overall course grade, a request to have the grade re-evaluated may be submitted. You must submit such requests in writing to me within 7 days of receiving the grade, including a brief written statement of why you believe that an error in grading has been made.

 

Professional Responsibilities For This Course

Attendance

 

Participation

In-class contribution is a significant part of your grade and an important part of our shared learning experience. Your active participation helps me to evaluate your overall performance.
You can excel in this area if you come to class on time and contribute to the course by:

 

Assignments

 

Classroom Norms

 

Stern Policies

Administration

  1. You should attend all class sessions, complete all readings before class, and hand in all assignments at the beginning of class. Late assignments will be downgraded. Please minimize disturbances during class, i.e., talking, arriving late, leaving early, etc. If you must miss a class, please let me know in advance and then get notes from other students.
  2. Laptops (including tablets) may not be used during lectures and discussions unless needed for a specific activity.
  3. Students are expected to adhere to the school’s honor code. Please ask me if you have any questions about how the honor code applies to a specific situation. For this class, the most important aspect to be aware of is that the individual assignments need to reflect the work of the student handing them in. For the group projects, I encourage you to discuss them with your classmates both inside and outside of your group.
  4. No extra credit assignments will be given in this course. Please see me right away if you are concerned about your performance.
  5. Deviations from the syllabus may be necessary.

 

Academic Integrity

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.

 

Recording of Classes

Your class may be recorded for educational purposes

 

Students with Disabilities

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.

 

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