Gsba 528
UNIVERSITY OF SOUTHERN CALIFORNIA
Marshall School of Business
MKT 530 – New Product Development and Branding Strategies
Fall 2008
Tuesday/Thursday 3:30 – 4:50 p.m.
Location: JKP 210
________________________________________________________________________________
Professor: Dr. Diane M. Badame
Telephone: (213) 740-5053
Office: Accounting Building, Room 228
E- Mail: badame@marshall.usc.edu
Office Hours: Tuesday/Thursday 5:00 – 6:00 p.m. and by appointment
________________________________________________________________________________
Reasons to Take This Course
A successful new product does more good for an organization than anything else that can happen. Over $100 billion are spent annually on the technical phase alone. This course provides you with an understanding of why organizations continually need to innovate and bring to market products and services that clearly distinguish themselves from the competition by offering higher value to specified target markets. You will learn how to most effectively develop and implement a new product or service to an existing or potential target market.
Course Description
New product development encompasses a myriad of processes and proven methodologies. During the course, you will learn how to assess and evaluate the quality of different models and techniques through case analyses, exercises and class discussions. You will learn how to write an effective New Product Development (NPD) Plan that integrates all of the components of new product development and branding into a cohesive, integrated plan for any new product or service. You also will learn about brand development and its impact on marketing strategies and brand equity.
Course Prerequisite
This course assumes that you have taken the core marketing course in the MBA program. If you have not taken a new product development marketing class or do not have relevant experience, please discuss with the professor.
Learning Outcomes
Students will be able to:
1. Develop a real-world New Product Development (NPD) plan for a new product or service concept by utilizing key new product development processes, theories and concepts and professionally present these recommendations in class.
2. Apply specific new product or service development and branding constructs to the thorough analysis of each case.
3. Enhance problem-solving, critical thinking, organizational, creative and analytical skills.
Required Readings
▪ Crawford, Merle and Di Benedetto, Anthony (2008). New Products Management. Irwin McGraw-Hill.
▪ Course Reader of cases and selected articles.
Recommended or Additional Readings
▪ Trott, Paul (2008). Innovation Management and New Product Development (4th ed.). Prentice Hall.
▪ Urban, Glen L. and Hauser, John R. (1993). Advertising Design and Marketing of New Products (2nd ed.). Prentice Hall.
▪ BusinessWeek Innovation PowerPlays, McGraw-Hill, 2008.
Grade Breakdown and Expectations
The following 1000 point grading system will be utilized for the course:
|Topic |Percentage of |Points |Due Date |
| |Grade | |(See Course Schedule) |
| Class Participation |10% |100 |8/26 – 11/25 |
| New Product Success Assignment |10% |100 |9/16 – 11/20 |
| Product Failure Assignment |15% |150 |9/11 |
| Individual Case Assignment |25% |250 |10/9 – 11/18 |
| NPD Project | | |12/2 and 12/4 |
| - Write-up |35% |350 | |
| - Presentation |5% |50 | |
| Subtotal |40% |400 | |
| Total |100% |1000 | |
A detailed course schedule is shown on page 4. The Department of Marketing follows the grading policy of the Marshall Graduate School of Business. For this elective course, the grading standard is an average of 3.5.
Attendance
Attendance is expected. Your ability to benefit from the course and contribute to the class is largely dependent upon your attendance during class meetings.
If you are unable to attend class on any occasion, please notify the professor in advance, where possible. Moreover, you will be responsible for everything covered or announced in class on that day.
If you miss more than three class meetings during an elective class, the professor may deduct points from the final grade.
Class Format
Class sessions will be devoted to summarizing major new product development and branding concepts and then probing, extending and applying these concepts to exercises and cases utilizing a great deal of interactive discussion. Discussions focused on concepts, cases and applications will be utilized to maximize learning and provide a forum in which new product development processes, successes, failures and branding concepts and theory are applied to real world experiences. It is assumed that all students by being prepared for each class will actively contribute to each session to maximize the learning experience. You may be cold called in class to explain a concept, answer a question, defend a point or apply some course material to real world applications.
Class Participation
Class participation is an extremely important part of the learning experience of this course because the richness of the learning experience is dependent upon the degree of preparation by all students prior to each class session. Additionally, a course focused on case analyses requires students to prepare cases and offer their analyses in the class. Thus, by definition, class participation is an important part of your grade.
You will offer your opinions in a group setting many times in your business career and evaluating class participation is a tool for preparing you for this dimension of your career. To foster a class environment that has active participation, 10 percent of the course grade or 100 points will be allocated to class participation.
Grading class participation will be based on the student’s willingness to actively participate and the quality of the comments expressed, not necessarily quantity. When evaluating participation, your professor will attempt to
answer the following questions:
Class Participation (Continued)
▪ Does the participant attend class regularly and show up to class on time? Is the participant prepared?
▪ Do comments add to an understanding of the marketing concept, situation, analysis, or recommendations being discussed? Does the participant go beyond simple repetition of case facts to include analysis and conclusions?
▪ Is the participant a good listener? Are the points made relevant to the discussion? Are they linked to the comments of others? Is there a willingness to interact with other class members?
▪ Is the participant an effective communicator? Are concepts presented in concisely and convincingly?
A class participation rating of 2, 1 or 0 will be given to each student based on his or her contributions during each class. A 2 rating will be awarded to those students who provide excellent contributions to class discussions. A 1 rating will be awarded to those students who provide proactive, positive contributions to class discussions. A 0 rating will be awarded to those students who do not attend class, do not participate in class discussions or provide negative contributions.
No Laptop or Other Communication Devices Policy
To ensure the richness of the learning experience, eliminate distractions and demonstrate the utmost respect for all students and the professor, laptops, iPhones, cell phones, Blackberrys and any other communication devices will not be allowed during class.
Students with Disabilities
Any student requesting academic accommodations based on a disability is required to register with Disability Services and Programs (DSP) each semester. A letter of verification for approved accommodations can be obtained from DSP. Please be sure the letter is delivered to the professor as early in the semester as possible. DSP is located in STU 301 and is open 8:30 a.m. – 5:00 p.m., Monday through Friday. The telephone number for DSP is (213) 740-0776.
Academic Integrity
Students are expected to adhere to the standards of academic integrity that govern students registered at USC. The use of unauthorized material, communication with fellow students during an examination, attempting to benefit from the work of another student, and similar behavior that defeats the intent of an examination or other class work is unacceptable to the University. It is often difficult to distinguish between a culpable act and inadvertent behavior resulting from the nervous tensions accompanying examinations. Where a clear violation has occurred, however, the professor may disqualify the student’s work as unacceptable and assign a failing mark on the paper.
Returning Graded Paperwork
Returned paperwork, unclaimed by a student, will be discarded after four weeks and, hence, will not be available should a grade appeal be pursued by a student following receipt of his/her grade.
Professor/Student Interaction
If at any time during the course you have questions regarding the preparation of assignments or other course-related issues, please do not hesitate to contact the professor to arrange a mutually convenient time to meet.
My philosophy is to create a community of learners whereby I facilitate discussions in which we construct knowledge together. Additionally I will give you as much feedback as you would like to help you become better new product development marketers and achieve your personal objectives for this course.
MKT 530 – New Product Development and Branding Strategies Course Schedule
Fall 2008
| | | | |
|Class |Date |Topic |Assignment |
|1 |8/26 |Part One – Overview and Opportunity Identification/Selection |Chapters 1 – 2 (pp. 23 – 35) of New Products Management textbook |
| | |The Menu and The New Products Process |The 12 Different Ways for Companies to Innovate article |
|2 |8/28 | |IDEO Product Development Case |
|3 |9/2 |The New Products Process (Continued) and Opportunity |Chapters 2 (pp. 35 – 52) and 3 and The New Product Strategy at Kellogg Mini-case – pp.|
| | |Identification and Selection |75 – 76 |
|4 |9/4 | |Creating Breakthroughs at 3M e |
| | | |Innovation at 3M Corporation (A) and (B) Case |
|5 |9/9 |Part Two – Concept Generation |Chapters 4 – 5 and Campbell’s IQ Meals Mini-case – pp. 128 – 129 |
| | |Preparation and Alternatives and Problem-Based Ideation |NPD Project Proposals Due |
|6 |9/11 |New Product Failure |New Product Commercialization: Common Mistakes |
| | | |Introducing . . . The XFL! Case |
| | | |Product Failure Assignment Due |
|7 |9/16 |Analytical Attribute Approaches |Chapters 6 – 7 and Dell Computers (A) Mini-case – pp. 146 – 147 |
| | | |New Product Success Assignments Begin |
|8 |9/18 | |Zipcar: Influencing Customer Behavior Case |
|9 |9/23 |Part Three – Concept/Project Evaluation |Chapters 8 – 9 and Nokia Mini-case – pp. 215 – 216 |
| | |The Concept Evaluation System and Concept Testing | |
|10 |9/25 | |Innovation at Progressive (A) and (B) Case |
|11 |9/30 | |Nestlé Refrigerated Foods (A): Contadina Pasta & Pizza Case |
|12 |10/2 |No Class | |
|13 |10/7 |The Full Screen, Sales Forecasting and Financial Analysis and |Chapters 10 – 12 and WiLife, Inc. (A) and (B) Mini-cases – pp. 233 – 234 and 282 – 283|
| | |Product Protocol | |
|14 |10/9 | |XM Satellite Radio (A) Case |
| | | |First Possible Case Write-up |
|15 |10/14 | |Pepcid AC: Racing to the OTC Market Case |
|16 |10/16 |Part Four – Development |Principles for User Design of Customized Products |
| | |Design |Chapter 13 and iPhone Mini-case – pp. 312 – 314 |
|17 |10/21 | |Braun: The Syncro Shaver (A) and (B) Case |
|18 |10/23 |Development Team Management |The New Product Development Imperative |
| | | |Chapter 14 and Ford Mondeo Mini-case – pp. 343 – 344 |
|19 |10/28 | |LePetit Chef Case |
|20 |10/30 |Product Use Testing |Innovation in Services: Corporate Culture and Investment Banking |
| | | |Chapter 15 and Product Use Testing for New Consumer Nondurables – pp. 366 – 367 |
|21 |11/4 | |Bank of America (A) and (B) Case |
|22 |11/6 |Part Five – Launch |Chapters 16 – 17 and Wii Mini-case – pp. 403 – 404 |
| | |Strategic Launch Planning and Implementation of the Strategic | |
| | |Plan | |
|23 |11/11 | |Eli Lilly: Developing Cymbalta Case |
|24 |11/13 |Market Testing and Launch Management |When Growth Stalls |
| | | |Chapters 18 – 19 and Pepsi-Kona and Pepsi One Mini-case – pp. 453 – 454 |
|25 |11/18 | |The New Beetle Case |
| | | |Last Possible Case Write-up Due |
|26 |11/20 |Branding Strategies |Innovation: Brand It or Lose It and Leveraging the Corporate Brand |
| | | |Chapter 20 and Hybrid or Hydrogen Vehicles at General Motors Mini-Case |
| | | |Last New Product Success Assignments |
|27 |11/25 |Course Review |Connect and Develop – Inside Procter & Gamble’s New Model for Innovation |
| | | |P&G Japan: The SK-II Globalization Project Case |
| |12/27 |Thanksgiving – No Class | |
|28 |12/2 |Final Project Presentations |NPD Project Presentations |
|29 |12/4 |Final Project Presentations |NPD Project Presentations and Papers Due |
Summary of Dates and Key Deliverables
| | |
|Date |Deliverable |
|Tues., 9/9 |NPD Project Proposals |
|Thurs., 9/11 |Product Failure Assignments |
|Tues., 9/16 – Thurs., 11/20 |New Product Success Assignments |
|Thurs., 10/9 – Tues., 11/18 |Case Analysis Assignments |
|Tues., 12/2 and Thurs., 12/4 |NPD Presentations |
|Thurs., 12/4 |NPD Papers |
Product Failure Assignment
Due: Thursday, 9/11
Project Overview
The failure rate for new products has hovered around 80 percent for several decades. This suggests the value of studying this enduring and costly marketing problem more intensively. To accomplish this, students will select a product/brand that entered the marketplace (US or global) within the past year, and subsequently failed. “Failure” is defined broadly and includes situations in which the product (1) has been withdrawn from the market, (2) achieved only a fraction of its pre-launch sales forecasts, or (3) remains unprofitable. Students should not select situations that are covered in HBS cases.
Project Report Preparation
Using conceptual material covered in class, prepare a diagnostic “product autopsy” that identifies and weights the factors that contributed to the product’s failure. First, explain the apparent marketing logic and related factors that provided the impetus for the development of your focal product or service failure. Then, in order of impact,
identify each failure factor, and explain how it contributed to the product’s demise or underperformance. Your written analysis should be no more than three single-spaced pages in length, excluding any supportive materials. This assignment is worth 15 percent of the course grade or 150 points out of 1,000.
Evaluation Criteria
1. Analytic comprehensiveness
2. Logic and persuasiveness of causal analyses
3. Marketing implications
New Product Success Assignment
Due: Tuesday, 9/16 – Thursday, 11/20
Project Overview
The success rate for new products, as witnessed by the significant failure rates, is very small which suggests further study into these successes could prove to be invaluable. To accomplish this, students will select a product/brand has successfully entered the marketplace (US or global) within the past year. “Success” is defined broadly and includes situations in which the product has (1) exceeded expectations, (2) achieved significantly above its pre-launch sales forecasts or (3) gained a great deal of positive public relations. Students should not select situations that are covered in HBS cases.
New Product Success Assignment (Continued)
Project Report Preparation
Using conceptual material covered in class, prepare a diagnostic “new product success summary” that identifies and weights the factors that contributed to the product’s success. First, explain the apparent marketing logic and related factors that provided the impetus for the development of your focal product or service. Then, in order of impact, identify each success factor, and explain how it contributed to the product’s success. Your written analysis should be no more than three single-spaced pages in length, excluding any supportive materials. This assignment is worth 10 percent of the course grade or 100 out of 1,000 points.
Evaluation Criteria
1. Analytic comprehensiveness
2. Logic and persuasiveness of causal analyses
3. Marketing implications
Case Assignment
Cases have been assigned to apply integrated new product development and branding concepts to real world business situations and enhance your analysis, critical thinking and problem-solving skills. The learning from a case comes in two ways. The first involves pre-class preparation that encompasses the ability to diagnose case problems and issues, to select and apply appropriate forms of analysis (e.g., quantitative, logic, experience, conceptual) and to make decisions about case solutions. Each student should make a decision about what should be done before coming to class and be able to document that solution on the basis of analysis.
The second part of learning from cases comes from realizing that other people do not always diagnose, analyze, and solve problems the way you do. Understanding others’ positions, learning from them and countering them with your own are a critical part of the learning experience. To do so, you must listen to each other as well as talk in class. Only when you have tried to defend your position can you fully understand its strengths and weaknesses. There is rarely a single right answer for a case, just as there is rarely a single right marketing decision in actual practice.
Analysis is more than noting that certain facts pertain to one of the central points around which the case is being analyzed. The facts must be noted, but then reasoning must be applied to determine how and in what way these facts affect the points in the case.
Information regarding the strategies actually selected by the firms in the cases should be incorporated with caution. Firms make strategic mistakes when ineffective strategies are executed that are inferior to alternative strategies that they could have chosen.
Individual Case Write-up Assignment
Students are to prepare a case analysis write-up on one of the following seven cases covered between Thursday, October 9th and Tuesday, November 18th:
▪ XM Satellite Radio (A)
▪ Pepcid AC: Racing to the OTC Market
▪ Braun: The Syncro Shaver (A) and (B)
▪ LePetit Chef
▪ Bank of America (A) and (B)
▪ Eli Lilly: Developing Cymbalta
▪ The New Beetle
Case Assignment (Continued)
The length of the paper is to be no more than seven single-spaced pages, excluding exhibits. The individual case assignment is worth 25 percent of the course grade or 250 out of 1,000 points and is to be handed in at the end of the class in which the case is discussed. Late papers will not be accepted.
Guidelines for Effective Case Analyses
While completing case analyses, make sure that the assigned questions for each case assignment are thoroughly addressed within the case analysis format as shown on page 10. Case write-ups should incorporate the readings on the topic area in which the case is assigned and focus on new product development and branding issues.
It is also highly encouraged to expand your analysis beyond these questions to issues that you think should be addressed to more effectively analyze the case. Using information outside of the case is encouraged because it brings a real perspective to the case.
The following are general guidelines for preparing an effective case analysis:
▪ Clearly identify upfront all of the major issues identified in the case.
▪ Provide a coherent, well-organized analysis, not just a regurgitation of facts presented in the case.
▪ Be concise. Provide a strong, logical flow throughout your paper. Do not spend time rehashing or paraphrasing the details of the case.
▪ The supporting analysis should be thorough, carried out correctly and consistently, and should draw, whenever relevant, on material presented in class or assigned in readings.
▪ Be sure to consider alternatives to recommendations with support of the pros and cons of each.
▪ Recommendations should be practical, cost-effective, and appropriate to the timing (short-term or long-term) of the problem at hand and supported with case data and exhibits where relevant.
▪ Integrated marketing communications strategies should be specific and support the overall objectives and recommendations.
▪ Tie your appendices to the text of the report.
▪ Specifically address and answer all of the case preparation questions in your write-up.
The following criteria will be utilized to grade the case analyses:
1. Statement of the relevant issues presented in the case
2. Analytical soundness
3. Quality of addressing case questions
4. Quality of the conclusions
5. Quality and support of recommendations
New Product Development (NPD) Project
Project Due: Thursday, 12/4
Project Overview
This project is designed to enhance both students’ learning and professional market value through direct, hands-on experience with the key managerial activities that are involved in moving a new product, service, or other marketing innovation from its early inception through the development stages that help refine and optimize it. Students work with a variety of analytic and creative tools at each NPD development stage. The output of the process is a new product planning document that summarizes the nature and rationale for the project, alternative product or service concepts, consumers’ reactions to each concept, the subsequent marketing strategy and tactics and a self-evaluation of the strategy’s overall soundness. Students will work in project teams of 4 – 5 individuals. Initially project teams will likely consider several, often quite different NPD projects. To make your final selection, be opportunistic, and consider factors such as the availability of relevant secondary information, your access to primary information sources (e.g., industry players and experts), your ability to locate prospective customers and obtain feedback from them, time-frame implementation issues and your personal interest in a particular product or service category or brand.
New Product Development (NPD) Project (Continued)
Project Report
Written reports should include all the following elements with approximate page-lengths indicated. Benchmark dates for completing each component are provided in parentheses. Please see NPD Plan Outline on pages 11 – 12 for details.
1. Executive Summary (Weeks 13-14)
This summarizes your NPD “story” and highlights the key aspects of your marketing strategy and recommendations (1 page)
2. Category Situation Analysis and NPD Opportunity Identification (Weeks 2-4)
This describes your basic innovation idea, and what consumer, competitive and other factors that make you think it has some potential for success. This section presents an abbreviated 3-C and 4-P analysis of the product or service category you seek to enter. (2-3 pages.)
3. Alternative NPD Concepts (Weeks 5-7)
Once your team has selected a general NPD idea to pursue, it is highly likely that various alternative possibilities exist with respect to different features, benefits, positioning, and customer target. Use your own logic to identify the most important alternatives, then represent these variations on your basic concept through the generation of between 3 and 5 written concepts. Briefly explain how you selected your 3 – 5 concept finalists, and include the written concepts as Exhibits in your report. (1-2 pages + Concept Exhibits)
1. NPD Concept Development and Evaluation Research (Weeks 7-9)
Each student team member needs to interview 5 prospective customers to obtain their reactions to the alternative concepts. This report section explains your research sample and procedures, and describes consumers’ overall reactions, specific likes and dislikes, purchase intentions and other metrics. (2-3 pages.)
2. NPD Strategy Soundness Evaluation (Week 10)
This section presents your critical evaluation of the validity of your plan’s underlying assumptions and a feasibility analysis that identifies must criteria and uses profile sheets and scoring models to assess its vulnerabilities, the risk that is involved and its prospects for success and for producing a sustainable advantage. (2 pages)
3. Recommendations (Weeks 11-13)
This section includes all recommendations for the project including target markets, objectives, strategies, a profit-and-loss statement, implementation plan and contingency plan if objectives are not met. (2-3 pages)
4. Lessons Learned (Week 14)
This section describes the lessons learned by developing and completing the new product development project.
Evaluation Criteria
1. Analysis and assessment of the NPD opportunity
2. Quality and analysis of the alternative NDP concepts
3. Quality and comprehensiveness of the NDP concept development and evaluation research
4. Comprehensiveness and quality of the NPD strategy soundness evaluation
5. Comprehensiveness, quality and soundness of the recommendations
Your team will present your findings during an in-class presentation on either Tuesday, December 2nd or Thursday, December 4th. This assignment is worth 40 percent of the course grade or 400 out of 1,000 points with 35 percent or 350 points for the paper and 5 percent or 50 points for the in-class presentation of your findings.
New Product Development (NPD) Project (Continued)
Peer Evaluations
If team contributions were not equal while preparing and presenting the assignment, please complete the project peer evaluation form on page 13. If one form is handed in at the end of the class in which the presentation is given, all other team members will be asked to complete the form. Unequal contributions may affect the individual grade of this assignment. If no peer evaluation forms are completed, it will be assumed that contributions were equal among team members.
Please submit in advance hard and soft copies of the PowerPoint presentation. Hand in peer evaluation forms the day the presentation is given if deemed appropriate. The NDP Project write-up is due during the last class session on Thursday, December 4th.
Case Analysis Outline
1. Statement of the Issues – A concise summary of the underlying issues in the case.
2. Situation Analysis – A thorough analysis of the industry, competition, customer and company and development of an expanded SWOT analysis.
▪ Industry/Market
• Industry/Market size
• Trends
• Technological changes
• Legal/Regulatory issues
▪ Competitive
• Major players in the marketplace
• Competitive strategies
• Market shares (if available)
▪ Customer
• Customer needs/perceptions
• Market segments
• Trends
▪ Company
• Core competencies
• Revenue and profit of firm
• Positioning
• Marketing mix
▪ Collaborators/Constituencies
• Partners who are included in the value chain (i.e., suppliers, distributors, retailers, etc.)
• Groups that have some influence on the customer experience (media, government, activist organizations, etc.)
▪ Expanded SWOT
• Strengths, weaknesses, opportunities and threats
• Strategies to mitigate weaknesses and threats
• Strategies to capitalize on strengths and opportunities
3. Alternatives and Analysis – Alternative ways of addressing identified issues and analysis of each alternative (pros and cons) including supporting evidence to provide a compelling rationale for resolving the identified issues. Integrate germane concepts from the course readings where appropriate.
4. Recommendations – Recommended courses of action that should be taken in addressing the identified issues. Provide a cogent rationale that supports the recommendations accompanied by supporting data and exhibits. Additionally, a means or method for feedback should accompany these.
▪ Target Markets – Clearly and specifically define the primary and secondary target markets.
▪ Objectives – Define the most relevant and critical financial and marketing objectives for at least a one year period following the last year that data is provided in the case.
▪ Strategies – Develop comprehensive marketing strategies that will accomplish the established objectives.
5. Contingency Plan – Back-up plans that have been developed in the event that objectives based on recommendations are not being met.
6. Appendices – Supporting information relevant to issues, alternatives or recommendations.
7. Lessons Learned – Key lessons learned from the case.
© Badame, 2008. All rights reserved.
NPD Plan Outline
1. Executive Summary - A brief synopsis (preferably one page) of the NDP Project that provides highlights of the situation analysis, target markets, objectives, strategies, and financial expectations.
2. Category Situation Analysis and NDP Opportunity Identification - Relevant background data on the industry, competition, customers, the company, collaborators/constituencies and the resulting extended SWOT analysis that supports the NDP opportunity
▪ Industry/Market
– Industry/Market size
– Trends
– Technological changes
– Legal/Regulatory issues
▪ Competition
– Major players in the marketplace
– Competitive strategies
– Market shares (if available)
▪ Customer
– Customer needs/perceptions
– Current primary and secondary target markets
– Trends
▪ Company
– Description, core competencies of the firm and current revenues and profits
– Positioning
– Marketing mix for applicable products and/or services
1. Product/Service
2. Place – distribution
3. Promotion – integrated marketing communications
4. Pricing
▪ Collaborators/Constituencies
ˉ Partners who are included in the value chain (i.e., suppliers, distributors, retailers, etc.)
ˉ Groups that have some influence on the customer experience (media, government, activist organizations, etc.)
▪ Expanded SWOT
– Strengths
– Weaknesses
– Opportunities
– Threats
– Strategies to maximize strengths and opportunities
– Strategies to mitigate weaknesses and threats
3. Alternative NDP Concepts
▪ Top 3 – 5 Written Concepts (shown in Exhibits)
ˉ Rationale for selection
ˉ Written concepts for each to include primary target market, features, benefits and positioning
NPD Plan Outline (Continued)
4. NDP Concept Development and Evaluation Research – Results of your research on alternative concepts.
▪ Sample
▪ Methodology
▪ Summary of Results
ˉ Overall reactions
ˉ Likes and dislikes
ˉ Purchase intentions
ˉ Other metrics
5. NDP Strategy Soundness Evaluation – Assessment of the soundness and validity of the underlying
assumptions of the recommendations.
▪ Validity of Underlying Assumptions
▪ Feasibility Analysis
ˉ Identification of must meet criteria
ˉ Use of profile sheets to justify recommendations
ˉ Use of scoring models
6. Recommendations - Desired accomplishments for 2009.
▪ Target Markets – Define the primary and secondary target markets.
▪ Objectives – Overall and specific objectives for the 4 P’s.
– Sales
– Profitability
– Market share
– Product
– Place
– Price
– Promotion
▪ Marketing Strategies – Defined strategies on how objectives will be accomplished.
1. Product/Service to include positioning
2. Place – distribution
3. Promotion
4. Pricing
▪ Projected Profit-and-Loss Statement – Detailed P&L statement for 2009, including assumptions and at least two previous years of financials.
▪ Implementation Plan – Timeline and recommended tactics for plan period.
▪ Contingency Plan
– Measurements and processes to insure that the plan is monitored and evaluated.
– Alternative strategies to be implemented if objectives are not met.
7. Lessons Learned – Identify the lessons learned by completing the project.
© Badame, 2008. All rights reserved.
Project Peer Evaluation
Please complete the following project peer evaluation form for the NDP Project assignment. Divide 100 points among your team members in accordance with their contribution to the team project. Include yourself in the distribution of points. For example, if your team had four team members and each member contributed equally to the project, the team members would each earn 25 points. If your team members did not contribute equally, then give each person the number of points that you feel fairly represents each member’s contribution to the completion of the assignment.
Team: __________________________________________________________________________
NDP Project Topic: ____________________________________________________________
Your Name: _____________________________________________________________________
| | |
|Names of Team Members |Points |
| | |
| | |
| | |
| | |
| | |
| | |
| |100 |
|Total | |
Comments: Please feel free to comment on the contributions of individual team members to the team project.
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