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JOHN CABOT UNIVERSITY
COURSE CODE: "MKT 304"
COURSE NAME: "New Product Management"
SEMESTER & YEAR:
Spring 2014
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SYLLABUS
INSTRUCTOR:
Pietro Paganini
EMAIL: [email protected]
HOURS:
MW 10:00 AM 11:15 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisite: MKT 301
OFFICE HOURS:
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COURSE DESCRIPTION:
Students will learn how to be a primary force of innovation, they will be encouraged to be creative, they will be directly involved in market challenges, and will be asked to help companies solve issues connected with product innovation.
This is a project-oriented class, students will be asked to solve a business problem presented by a multinational or a SME. Students will develop a new/existing product and learn how to launch it on the global market.
Students will be part of the House of Innovation, an open class; they will work in cross-functional teams, interacting with the students of other courses who will be engaged in solving the same problem on the basis of their course objectives and competences. The course is organized as a workshop for new product/service development, allowing students to explore market opportunities and to propose new concepts to the market. In addition to working in teams, they will attend labs, do simulation exercises and roleplaying games, and will be asked to interact with the business community outside the university campus.
Lectures will provide students with the know-how, competencies and tools in order to enhance their skills and solve the problems their project requires.
The course will focus on the process of designing, launching and managing new products/services in the global marketplace. Product or service development is central to management in general, as well as to marketing activities, as it allows innovation to meet the evolution of market needs and opportunities. The course investigates the process of new product management, starting from the birth of an idea and of a concept, up to the evaluation of the project and its development. It will also help students to understand the dynamics of innovation within organizations, particularly aiming to create and strengthen a culture of innovation.
Product/service innovation is one of the main responsibilities of a marketing manager and, at the same time, a challenge for the entire management team by stimulating innovation, motivating creativity, constantly producing new products/services, acting proactively and anticipating market/individual needs and competitors. Innovation goes beyond the simple production process, being part of company missions and organizational culture. Innovation is the core of successful contemporary companies.
Every year thousands of new products/services are introduced onto the global market, generating novelty, calling for brand development and for important marketing investments. However, the success rate of new products tends to be very low. The primary reason for this is the complexity of the process itself which goes well beyond creativity and good ideas, being the combination of innovation, technical skills and operational capabilities.
Students will enjoy the unique opportunity to work closely with both national and multinational companies based in Italy, whose goal it is to help them develop new products and services to win the market challenge.
Entrepreneurs and business people involved in the innovation business will be invited to lecture. This includes international companies such as 3M, Banfi, Cisco, Google, Microsoft, and a number of Italian SMEs and start-ups.
Innovation, entrepreneurship and creativity are key-factors in contemporary management and marketing. Firms can win the competition challenge when they are able to produce new products and services.
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SUMMARY OF COURSE CONTENT:
- Design, creative and critical thinking
- Team-building and project management
- New Product Process
- Opportunity identification and selection
- Market research and scenario analysis
- Strategic planning
- Idea generation, preparation and alternatives
- Concept/project evaluation
- Product design, development and prototypeization
- Product launch
- Product related rules and regulations
- Fund Raising
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LEARNING OUTCOMES:
Upon successful completion of all the course assignments, the student will be able to:
- Solve complex business problems
- Manage complex projects
- Present, convince and entertain
- Develop design and critical thinking skills
- Work in teams and collaborate with their peers and the broader business community
- Demonstrate a certain attitude towards innovation, creativity and entrepreneurship
- Understand the overall process of new product/service development and management
- Explore and identify market opportunities and marketing trends
- Apply technical skills to concept development and evaluation
- Acknowledge different types of new products and services
- Apply market segmentation
- Perform sales forecasts and project financial analysis
- Develop an overall branding and product strategy
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| New Product Management | M. Crawford A. Di Benedetto | Mc Graw Hill | 0073404802 | | Additional material, including articles and papers, will be distributed in class or posted online | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Class attendance, class participation and debate | | 5% |
| Coursework | | 30% |
| New Product project | | 40% |
| Mid-term: concept generation | | 15% |
| Final project presentation | | 10% |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the cour
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
Students are supposed to come prepared to class and participate in all activities. Active participation is crucial. Regular attendance is an essential component of class participation.
Students that miss three classes may be asked to withdraw from the course. Two lateness equal one absence.
Please refer to the university catalog for the attendance and absence policy.
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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| Session | Session Focus | Reading Assignment | Other Assignment | Meeting Place/Exam Dates |
| Class 1 - Jan. 13 | New product process | Course introduction - Chapter.2 (NPM) | | |
| Class 2 - Jan. 15 | What is a product/service | Frontal lecture - Ch.2 (NPM) | Final proj. team formation | |
| Class 3 - Jan. 20 | Product presentation | | Students Product pitch | |
| Class 4 - Jan. 22 | Product presentation | | Students Product pitch and NPP team work | |
| Class 5 - Jan. 27 | Team management | Ch.14 (NPM) | NPP Lab | |
| Class 6 - Jan. 29 | Opportunity identification | Frontal lecture + NPP Lab - Ch.3 (NPM) | | |
| Class 7 - Feb. 3 | Opportunity identification | | Students presentation & work evaluation | |
| Class 8 - Feb. 5 | Concept generation - Preparation and alternatives | Frontal lecture + NPP Lab - Ch.4-5 (NPM) | | |
| Class 9 - Feb. 10 | Concept evaluation: testing - full screen - product protocol | Frontallecture+ NPP Lab - Ch.8-9-10-12 (NPM) | | |
| Class 10 - Feb. 12 | Concept testing - full screen - prod. protocol | Frontal lecture + NPP Lab - Ch.8-9-10-12 (NPM) | Case study 1 | |
| Class 11 - Feb. 17 | Policy & regulation | NPP Lab - Ch.20 (NPM) | | |
| Class 12 - Feb. 19 | Midterm | | Concept generation | |
| Class 13 - Feb 24 | 1st stage analysis | | Project evaluation | |
| Class 14 - Feb 26 | Development - design | Frontal lecture - Ch.13 (NPM) | | |
| Class 15 - March 3 | Development - design | | NPP Design | |
| Class 16 - March 5 | Prod. development & testing | Ch.15 (NPM) | | |
| Class 17 - March 10 | Lecture: Cisco - Valerio Viscardi | | | |
| Class 18 - March 12 | Strategic launch planning | Ch.16 (NPM) | case study (T 1-2) | |
| Class 19 - March 24 | Lecture: start-up 2.0 - Gabriele Paglialonga | | | |
| Class 20 - March 26 | Implementation of the strategic plan | Ch.17 (NPM) | case study (T 3-4) | |
| Class 21 - March 31 | Lecture: 3M - Nello Bonomi | | | |
| Class 22 - Apr. 2 | Market testing | Ch.18 (NPM) | case study (T 5-6) | |
| Class 23 - Apr. 4 | Lecture: Telit - Chicco Testa | | case study (T 7-8) | |
| Class 24 - Apr. 7 | Launch management | Ch.19 (NPM) | | |
| Class 25- Apr. 9 | NPP Lab | | NPP final draft | |
| Class 26 - Apr. 14 | JCU Entrepreneurship Institute Conference (Oct. 11) | | | |
| Class 27 - Apr. 16 | NPP Pres. | | Final proj. pres | |
| Class 28 - Apr. 23 | NPP Pres. | | Final proj. pres | |
| Class 29 - TBD | Final Exam | | | |
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