Lingnan University

Department of Marketing & International Business MKT399A Special Topics in Marketing New Product Development Course Description Prerequisite: BUS205 Marketing Management No. of credits: Three

This course aims to provide the necessary theoretical and practical training in the development and management of new products. It is designed for the final year students who have taken BUS205 Marketing Management and are looking for an in-depth exposure to new product development. New product development has changed dramatically since the 1980s and has widened to include global issues, marketing strategy and cross-functional interfaces, quality and customer satisfaction, and new techniques that are relevant across a number of industries. This course takes a multidisciplinary approach to new product development. The course looks at issues in marketing, manufacturing, finance, engineering, and R&D functions. Course Objectives The objectives of this course are to provide students with a solid understanding and hands-on experience of the new product development process, in particular they will 1. understand the basic concepts of new product development; 2. develop in-depth knowledge relating to the marketing of on-going products as well as of new products; 3. prepare new product marketing plans; and 4. develop product innovation and new product development strategy. Learning Outcomes On completion of this course, students will be able to: Have an in-depth critical understanding of new product development process; Analyze and apply various key concepts and tools to product planning and management process; Evaluate the appropriateness of various product strategies for different marketing situations; Develop a complete new product marketing plan in a professional fashion.

Measurement of Learning Outcomes

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Examination is designed to assess students understanding of the new product development process and the related concepts and theories involved in new product planning, development and management. In addition to 1, problem based continuous assessment (case studies, class participation, article critique, group presentation) requires students individually or in teams to explain the applicability of concepts, theories and principles of new product development to real life problem situations. Term project requires students in teams to take a holistic view and integrate what they have learned to develop a complete new product marketing plan in a professional fashion.

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Textbook Crawford, Merle and Anthony Di Benedetto (2008), New Products Management, Ninth edition, McGraw-Hill. Additional Reading Materials Additional reading materials and case studies will be provided for class assignments. It is very useful to visit good websites of product innovation for conducting detailed research. Some recommended web sites are: 1. Product Development and Management Association (PDMA) - http://www.pdma.org 2. World Business Review - http://www.wbrtv.com Indicative Content (1) Opportunity Identification and Selection: new products process, opportunity identification, and strategic planning for new products. (2) (3) (4) Concept Generation: preparation and alternatives, problem-based ideation, and perceptual mapping. Concept Evaluation: concept evaluation system, concept testing, and product protocol. Development: design, development team management, and product use testing.

(5) Launch: strategic launch planning, market testing, and launch management. Pedagogy The approach for new product management is practical and problem-oriented. The major part of the course will involve applying concepts, techniques, and analytical frameworks to solve

problems which real-world companies need to encounter. The course begins with a discussion of innovation strategy and is followed by topics on the major phases in the new product development process, namely opportunity identification, concept generation, concept evaluation, product development and launch management. Applications are described in the context of consumer and industrial, products and services, and frequently-purchased and durable goods. Real-world examples are used to demonstrate the best level of practice in each problem situation. Assessment Student evaluation is based on:
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Class Assignments (40% = 8% X 5) Each group (perhaps pairs) is required to complete five class assignments such as article review, Internet exercises, case studies and little projects. Pairs will be planned by the instructor and differently for each assignment. Individual grade will be based on group members peer evaluation and an overall group grade assigned by the instructor. For example, if a group (pairs) receives an assignment mark 6 out of 8 marks, and one group member assigns another group member a score of 7 out of 10 for his/her participation, then that students assignment mark would be 4.2 out of 8 (6 times 0.7). Class Participation (10%) Students will be assessed based on their simple attendance and contribution to class discussion.

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3. Final Exam (50%)\ Short case and essay questions Class Assignments Class Participation Final Exam Total: 100% 40% 10% 50%

MKT399A New Product Development Course Schedule (1st Term, 2009-10)

Week Week 1 Week 2-3 Week 4-6 Week 7-9 Week 10-12 Week 13-15 Topics & Materials Covered Introduction to NPD Part 1 Opportunity Identification/Selection Case Part 2 Concept Generation Part 3 Concept/Project Evaluation Part 4 - Development Part 5 - Launch Ch

1 2-3 4-7 8-12 13-15 16-20