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Innovation & New Product Development

2 Credits BU.430.730.51 Thursday Nights 6-9 Summer 2012 Washington, DC

Instructor Dr. Katherine Wilson Contact Information Email: knwilson@jhu.edu Required Textbook Crawford, Merle and Di Benedetto, Anthony, New Products Management, 10th Edition, McGraw Hill Publishing, New York, 2010. Required Harvard Business Publications Articles Product Information: Product #: 594127-PDF-ENG Product Format: Digital Product Title: New Product Commercialization: Common Mistakes Product Type: Industry and Background Note Publisher: HBS Product #: 695016-PDF-ENG Product Format: Digital Product Title: Innovation: A Customer-Driven Approach Product Type: Industry and Background Note Publisher: HBS Product #: 695051-PDF-ENG Product Format: Digital Product Title: Understanding User Needs Product Type: Case Publisher: HBS Due Session 3 Due Session 2 Due Session 2

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Product #: 599110-PDF-ENG Product Format: Digital Product Title: Analyzing Consumer Perceptions Product Type: Industry and Background Note Publisher: HBS Product #: 582055-PDF-ENG Product Format: Digital Product Title: Research Methods in Marketing: Survey Research Product Type: Industry and Background Note Publisher: HBS Product #: 599112-PDF-ENG Product Format: Digital Product Title: Analyzing Consumer Preferences Product Type: Industry and Background Note Publisher: HBS Product #: 590059-PDF-ENG Product Format: Digital Product Title: Conjoint Analysis: A Manager's Guide Product Type: Industry and Background Note Publisher: HBS Product #: 592088-PDF-ENG Product Format: Digital Product Title: Researching and Monitoring Consumer Markets Product Type: Industry and Background Note Publisher: HBS Product #: 505062-PDF-ENG Product Format: Digital Product Title: Forecasting the Adoption of a New Product Product Type: Industry and Background Note Due Session 6 Due Session 6 Due Session 5 Due Session 5 Due Session 4 Due Session 3

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Publisher: HBS Blackboard Site A Blackboard course site is set up for this course. You are expected to check the site throughout the semester as the Blackboard will be a primary venue of outside classroom communications between the instructors and the students. To access the course site, please log into https://blackboard.jhu.edu. If you need support for Blackboard, please call 1-866-669-6138. Important Academic Policies and Service Academic Integrity and Ethical Conduct Disability Services Statement of Diversity and Inclusion Tutoring and Testing IDEA Course Evaluation Students are strongly encouraged to consult the Blackboard course website and the Johns Hopkins Carey Business School website http://carey.jhu.edu/syllabus_policies for detailed information regarding the above items. Course Description Students investigate the implications of new product development and deployment with respect to the firms core competencies and as a source of innovation, differentiation, and competitiveness. Topics include the design and management of new product development life cycles including processes, outsourcing, distributed design, as well as the software and services needed for product/service introduction. The course focuses on the management of new product development processes in dynamic markets and explores cross- departmental interactions in maintaining company and product competitiveness. Course Overview This course focuses on the strategy for introduction of new products and services as well as specific market research techniques that are employed in the domain of new products. Most of marketing decisions require a mixture of qualitative insights and quantitative experimentation, and the world of innovation and new products involves an even greater degree of holistic thinking. This course explores both qualitative and quantitative tools, equipping students with an understanding of ways to structure and perform analysis at early stages of innovation and product development. Course Learning Goals and Alignment with Carey Learning Goals Carey Learning Goals Integrate multiple factors in business decisions. 1.1 1.2 2.1 2.2 3.1 3.2 Carey Learning Objectives Students will identify complex issues that affect organizations and create appropriate strategies to address these issues. Students will implement and evaluate innovative strategies and tactics designed to address a specific organizational issue. Students will apply quantitative tools and techniques to analyze and address organizational issues. Students will apply qualitative tools and techniques to analyze and address organizational issues. Students will demonstrate an appreciation for multiple perspectives and experiences through the ability to work effectively in teams. Students will analyze local and global market conditions and incorporate this analysis into decisions.

Balance qualitative and quantitative inputs in business analysis.

Embrace and function in diverse business contexts.

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Create business solutions that address social problems. Lead in an adaptive and continuous learning culture.

4.1 4.2 5.1 5.2

Students will develop business solutions that address critical social needs. Students will apply ethical frameworks and codes of conduct to guide decisions and actions. Students will demonstrate effective oral, visual, and written communication. Students will demonstrate effective leadership through their course work, behaviors, and dispositions/attitudes.

Student Learning Objectives for this Course L.O. # 1 Student Learning Objectives for this course Corresponding Carey Learning Objective

Understand the nature and scope of new product development decisions Master appropriate qualitative and quantitative techniques for new product development decisions Have the ability of evaluating the proposed new product strategy in terms of their ethical frames and behavioral feasibility Have the ability to interpret and deliver the proposed solution and develop compelling yet balanced arguments for the recommendations

Carey Objective 1.1, 3.1, 3.2 Carey Objective 1.1, 2.1, 2.2, 3.1, 3.2 Carey Objective 4.1, 4.2

Carey Objective 5.1

Course Requirements Attendance and Class Discussion (10%) Attendance and participation are part of the course grade. Participants are expected to attend all scheduled class sessions. Classes will include opportunities for students to work together. Failure to attend class will result in an inability to achieve the objectives of the course. Full attendance and active participation are required for students to succeed in this course. If you skip a class, it is your responsibility to make up whatever you may have missed. Readings The readings are listed on the schedule of class sessions. The textbook is a worthwhile source of material and you are required to read the chapters. Articles are meant to enhance the topics under discussion and are available through Harvard Business Publishing. Small Case Analysis (3 at 5% representing a total of 15%)

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Students are expected to select any 3 additional cases that appear in the end of each chapter (following chapter 1) that have not been used/discussed in class, and to read and answer the questions posed at the end of the case. These case analyses can be turned in at any time during the course duration, but it is HIGHLY recommended that the student does not wait to turn in all assignments at the end of the course but pace themselves and get this work done in a timely manner. This is an individual assignment and does not require collaboration. Large Case Analysis: 25% Student will select their choice of this case on the first night of class. Accessing cases will be provided (cases can be found through the Harvard Business Publishing site). Specific Case questions will be provided to students. This is an individual assignment even though multiple students may have selected the same case. This case is due whenever the student believes they are ready to turn it in. Last date to turn in the Class #8. New Product Application Project This is team project that requires the students to examine a new product idea (product idea will be provided to the class), evaluate the idea, and provide launching decisions/plans. For the sake of this class, creative ideas and insightful analysis are more important than actual success of the new product. Groups of no more than 3 students should be identified; however, individual projects submission are possible with permission of the instructor. In the final week of class, teams/individuals will make presentations of their new product projects (using PowerPoint). The length of presentations will depend on class size. Students will turn in both a hard copy/text and ppt presentations. PPTS can be turned in electronically on the day that the group makes their presentation, and bring one hardcopy, professionally completed to class. In appendices, please include supporting document, if any, such as survey questionnaires and data analysis. Group Project : Written Report (35%) This part of the grade will cover everything in the written report, such as any background research, the integration of the research findings and the proposals based on your research. Project Presentation (15%) Expectations will be provided Important notes about grading policy: The grade for good performance in a course will be a B+/B. The grade of A- will only be awarded for excellent performance. The grade of A will be reserved for the select few who demonstrate extraordinarily excellent performance. *The grades of D+, D, and D- are not awarded at the graduate level. Grade appeals will ONLY be considered in the case of a documented clerical error. Copyright Statement Unless explicitly allowed by the instructor, course materials, class discussions, and examinations are created for and expected to be used by class participants only. The recording and rebroadcasting of such material, by any means, is forbidden. Violations are subject to sanctions under the Honor Code .

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Tentative Course Calendar *The instructor reserves the right to alter course content or adjust the pace to accommodate class progress Class Content Session 1 Introduction to course/Syllabus Selection of Large Case for Analysis Project identification The Strategic Elements of Product Development New Product Process Strategic Planning for New Products Session 2 Finding and Solving Customer Problems Text: Chapter 1-3 Reading

Text: Chapter 5 New Product Commercialization: Common Mistakes Innovation: A Customer Driven Approach

Session 3

Analytical Attribute Approaches: Introduction and Perceptual Mapping Analytical Attribute Approaches: TradeOff Analysis and Qualitative Techniques

Text: Chapter 6-7 Understanding User Needs Analyzing Consumer Perceptions

Session 4

The Concept Evaluation System Concept Testing The Full Screen

Text: Chapter 8, 9,10 Research Methods in Marketing: Survey Research

Session 5

The Concept Evaluation System Concept Testing The Full Screen

Text: Chapter 8, 9,10 Analyzing Consumer Preferences Conjoint Analysis: A Manager's Guide

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Class Content Session 6 Sales Forecasting and Financial Analsis Product Use Testing Market Testing

Reading Text: Chapter 11, Chapter 15, Chapter 18 Researching and Monitoring Consumer Markets Forecasting the Adoption of a New Product

Session 7

Strategic Launch Planning Implementation of the Strategic Plan

Text: Chapter 16-17, 19

Session 8

Project Presentations

Project Presentations