Marketing

new product development

B8604

summer 2003

M/W 10:00-11:30 AM, ROOM: 209 WJW

OFFICE HOURS: M/W 11:45 AM - 1:00 PM

Rajeev kohli ( 506 uris hall ( 854-4361 ( rk35@columbia.edu

overview

The development of new products and services is perhaps the most significant activity within a firm. It also one of the most risky --- many years and millions of dollars are spent developing products that on average fail far more often than they succeed. The best companies, on the other hand, manage to bring out successful new products year after year. This course examines the strategies, processes and methods used by these companies, and the cutting-edge tools and techniques used for new-product development. The first part of the course focuses on new product development strategies at different stages of a product's life cycle. The second part examines techniques for managing different stages of product development, from idea generation to market launch. Although the primary focus of the course is on physical products, much of the material is also relevant for the design of new services. Readings and guest speakers from both product and services will be used. The course is particularly useful for those pursuing, or intending to pursue, careers in product/brand management, consulting and marketing research.

readings

1) Packet of readings.

grading

40% class participation ( 20% individual assignments ( 10% group assignment ( 30% group project

1) Class participation

Each student is expected to prepare for and attend all class sessions and to fully participate in class discussions of readings and cases. Participation in this course entails much more than engaging the instructor in a discussion. It requires clear presentation of your ideas to colleagues in class, and analyzing their ideas with an open and receptive frame of mind. This requires balancing your views against those of others, the ability to change another's mind and the willingness to change your own mind. Students do best if they come prepared with written notes of their analyses, and spend time integrating their own views with the class discussion and readings. Balanced, analytical and creative thinking is highly valued, both in your written work and in your class participation.

2) Assignments

There are two individual assignments, each worth 10% of your grade, and one group assignment, also worth 10% of your grade.

3) Group projects

Typical project teams will consist of four students. Once you join a project team, I expect you to stay in the course for the entire term.

There are three options for the group project:

i) an in-depth review of a particular topic relating to new-product development, possibly one not covered in class (e.g., intellectual property);

ii) an analysis of critical issues in new-product development for a particular industry; and

iii) a product-development plan for a particular product you wish to make.

You should prepare a project proposal, describing (i) its objective(s), (ii) the work involved and (iii) the procedures/methods/sources you expect to use. Each group will present their proposal to the class in session 12 (March 3).

Deadlines

Assignments must be submitted on time, at the start of a class session. The only exceptions are unanticipated emergencies and prior approvals from the instructor. Please keep an extra copy of all your work for safety. Do not email assignments to me, and do not slip them under my door or drop them off in my mailbox without prior approval.

|session |case |readings |

|Introduction |

|Monday, May 12 |

|Product development process and valuation |

|NPD Process |Industry gets religion |

|Wednesday, May 14 |Innovation process |

|Recognizing opportunity |Opportunity recognition |

|Monday, May 19 |Creating breakthroughs at 3M |

| |Chapter 6: life cycle |

|Radical innovations: Creating a market |

|Creating a market |Mosaic communications: the making of netscape |

|Wednesday, May 28 |The Red Herring: walled city or digital franchise? |

|Characteristics of radical innovations |Antibiotics, invention and innovation |

| |Will it ever fly? Modeling the takeoff of really new consumer