New Product Development: On-site Syllabus



New Product Development2 CreditsBU.460.730.XX[NOTE: Each section must have a separate syllabus.][Day & Time / ex: Monday, 6pm-9pm][Start & End Dates / ex: 8/20/18–10/15/18][Semester / ex: Fall 2018][Location / ex: Washington, DC]Instructor[Full Name]Contact Information[Email Address][Phone Number, ###- ###-#### (Optional)]Office Hours[Specify the day and time of the 2 hours that will be dedicated to office hours each week. For evening classes, faculty may wish to hold their office hours by phone or email. While faculty are permitted to state “and by appointment,” office hours should not be held exclusively by appointment.]Texts & Learning MaterialsThere is no required textbook for this class. Cases: [C1] Gaming the Gamers: Using Experience Maps to Develop Revenue-Generating Insights (Grayson, Waikar and Smith)* [C2] Four Products: Predicting Diffusion (2011) (Gourville)*[C3] Metabical: Pricing, Packaging, and Demand Forecasting for a New Weight-loss Drug (Quelch and Beckham)*[C4] TruEarth Healthy Foods: Market Research for a New Product Introduction (Rangan and Yong)*Articles:[A1] Is It Real? Can We Win? Is It Worth Doing? (Day)[A2] The Discipline of Innovation (Drucker)[A3] Three Cheers for SnapChat (Yglesias) [A4] Now for Some Jaw Droppingly Bad Analysis (Gans) [A5] Analyzing Consumer Perceptions (Dolan)* [A6] Discovering “Unk-Unks” (Mullins) [A7] The Customer-Centered Innovation Map (Bettencourt and Ulwick) [A8] Use Customer Journey Maps to Improve Customer Experience (Richardson)[A9] Connect and Develop:?Inside Procter & Gamble’s New Model for Innovation (Huston and Sakkab)[A10] Four Steps to Forecast Total Market Demand (Barnett)[A11] How to Assess the Market Potential of Your Idea (Dahl)[A12] Why the Lean Startup Changes Everything (Blank) [A13] What Entrepreneurs Get Wrong (Onyemah, Pesquera and Ali) [A14] Don't Take Risk -- Eliminate it! (Cast and Shonthal) [A15] Evangelizing for the Lean Startup (video)[A16] The New Product Process: The Stage-Gate Game Plan (Cooper)*[A17] The Agile-Stage-Gate Hybrid Model: A Promising New Approach and a New Research Opportunity (Cooper and Sommer)[A18] A Step-by-Step Guide to Smart Business Experiments (Anderson and Simester)[A19] New Product Commercialization: Common Mistakes* (Rangan and Bartus)[A20] Pricing Policies for New Products (Dean Nov./Dec. 76 HBR Classic)[A21] Disruptive Technologies: Catching the Wave (Bower and Christensen) [A22] What’s Disruptive Innovation? (Christensen, Raynor, McDonald)[A23] Tesla’s Not as Disruptive as You Might Think (HBR Ma 2015) [A24] Is Tesla Disruptive? (Gans) [A25] Why the iPhone Confounds Disruption Theorists (Gans) [A26] Why Sustainability Is Now the Key Driver of Innovation (Nidumolu, Prahalad and Rangaswami)Course DescriptionThis course focuses on the process whereby innovators solve consumer problems by innovating new products or services. Identification of the needs and wants of consumers are the starting point and the axis around which class contents revolve. Students are introduced to the techniques and insights required to navigate the processes of ideation, idea management, product development, and commercialization. They are presented with industry examples for the application of these methods and concepts, and required to apply them in a group project.Prerequisite(s)NoneLearning ObjectivesBy the end of this course, students will be able to: Understand the role of and apply marketing analysis to inform decision making at each step of the innovation process.Grasp key trade-offs faced by innovative firmsUnderstand how the interaction with users, collaborators, experts, and firms can be used to identify viable opportunities.Master techniques aimed to remove risk from the NPD process. Understand the main differences of innovation in entrepreneurial and corporative contexts, and their implications for the NPD process. Understand the nuances of the innovative process in select industries.To view the complete list of the Carey Business School’s general learning goals and objectives, visit the Carey website.Attendance You are expected to attend all 8 class sessions. Exceptions will be granted only under extenuating circumstances, and must be notified to the instructor and TA in advance. Medical reasons must be substantiated with a note from your physician. If you miss certain sessions, you will be responsible for all information covered in class.AssignmentsAssignmentType of Assignment (Individual vs. Group Evaluation)Learning ObjectivesWeightAttendance and Participation Individual1–615%Case Write-upIndividual1–610%Final ExamIndividual1–635%Project Proposal Group1–615%Project Final DeliverablesGroup1–625%Total100%Individual EvaluationsClass Attendance and Participation (weeks 1–7)Case Write-up (weeks 2, 3, 4, 6)Please submit a one-page case write-up for each case [C1–C4] via Blackboard. The discussion questions will be posted on the blackboard. Please submit the write-up before the start of each session. Final Exam (week 8)The exam will cover all contents from lectures and readings.Group Evaluations: Group ProjectThe group project consists of developing a new product idea, targeting any industry. You can adopt the perspective of an entrepreneurial venture or that of large company for which your concept would be a good fit. The primary goal is to provide first-hand experience in the following areas: Ideation and concept developmentConsumer researchMarket analysis and product positioningMarket rollout strategyFocus. For pedagogical reasons, students are encouraged to pursue new product ideas that do not entail significant technical challenges; these place the emphasis on what your company’s R&D team can accomplish as opposed to how insightful of a marketer you are. I strongly recommend focusing your efforts on identifying novel problems for which simple solutions (in the form of a new product or service) can provide clear gains for consumers. Here is an example of such type of product. Remember that your product idea does not need to be “all things to all people” (i.e., it does not need to create great value for everyone), but only create meaningful value for some people.Groups. Groups should have 5–6 members. Project Proposal (due week 3)The proposal must include (i) a 1-minute (+/-10 seconds) video describing the NPD idea, and (ii) a document (up to 2 pages) providing details not accounted for by the video. Details are provided in the Rubrics section of the syllabus. Project Final Deliverables (due week 8)The project will be presented in week 8. Each team will have 10 minutes to present the ideas. Please submit your slides and a report (up to 5 pages) providing details not accounted for by the slides. Details are provided in the Rubrics section of the syllabus.IMPORTANT NOTE: Videos must be uploaded to YouTube (public viewing) before the start of the class when they are due. Documents accompanying project deliverables must be submitted via Blackboard. These documents must include the URL of the corresponding YouTube video. Other forms of submissions will not be accepted. All late submissions will receive the minimum grade. RubricsCase Write-upThis is designed to make sure you read cases. You will get 10 (highest) if you answer all discussion questions and submit it via blackboard on time. Incomplete submissions or late submissions will get 0.Final ExamThe exam will be closed book and closed notes and will last 45 minutes. It will be graded using a 0–100 scale.Project ProposalThe proposal video should illustrate the two following ideas:Consumer problem to be solved/gains to be providedNature of the proposed solutionThe accompanying document should elaborate on the feasibility of the proposed solution, as well as a brief summary of available alternatives. The instructor will evaluate proposals according to the following criteria, using a 0 (lowest)–10 (highest) scale:Insight (25%). How clever is your diagnosis of the consumer problem? Is the problem easy to grasp? Is it a meaningful problem? Quality of solution (25%). How simple is the solution? Does it effectively address the problem? Is it a better solution than existing alternatives? At this point you don’t need a perfect solution, but just an idea of something that seems reasonable and possible.Credibility (25%). Is the solution possible? Quality of delivery (25%). Was the presentation smooth, and were the ideas clearly stated? Project Final DeliverablesThe final presentation should illustrate the following points:Consumer problem to be solved/gains to be providedNature of the proposed solutionPositioning statementMain elements of market analysisConcept/product testing strategyThe accompanying document should elaborate on: The feasibility of the proposed solution, as well as a brief summary of available alternativesInsights from long interviewsPersonas/segmentation Journey/job maps (if applicable) Full content of market analysisIf the product is developed from the perspective of an established firm, address fit with the firm’s portfolioMain elements of market rollout strategyThe instructor will evaluate these according to the following criteria, using a 0 (lowest)–10 (highest) scale:Consumer research insights/segmentation (20%)Market analysis (20%)Rollout strategy (20%)Credibility and delivery (40%)GradingThe grade of A is reserved for those who demonstrate extraordinarily excellent performance as determined by the instructor. The grade of A- is awarded only for excellent performance. The grades of B+, B, and B- are awarded for good performance. The grades of C+, C, and C- are awarded for adequate but substandard performance.?The grades of D+, D, and D- are not awarded at the graduate level (undergraduate only). The grade of F indicates the student’s failure to satisfactorily complete the course work.Please note that for Core and Foundation courses, a maximum of 25% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.3. For Elective courses, a maximum of 35% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.4. (For classes with 15 students or fewer, the class GPA cap is waived.)IMPORTANT NOTE: A significant component of the final grade is determined by group work. It is therefore important that you encourage all of your group peers to contribute intellectually and practically. While peer evaluations will play a role in the final grade (as explained below), these are not perfect. It is therefore important that you foster an environment that discourages free riding and promotes positive spillovers from joint work. Tentative Course CalendarInstructors reserve the right to alter course content and/or adjust the pace to accommodate class progress. Students are responsible for keeping up with all adjustments to the course calendar.WeekContent1TopicCourse Overview and Introduction to New Product DevelopmentPrepare[A1] Is it Real? Can We Win? Is it Worth Doing? [A2] The Discipline of Innovation [A3] Three Cheers for SnapChat [A4] Now for Some Jaw Droppingly Bad Analysis SubmitStudent Information Sheet; Team Information Sheet2TopicConsumers and Opportunities[A5] Analyzing Consumer PerceptionsPrepare[A6] Discovering “Unk-Unks” [A7] The Customer-Centered Innovation Map [A8] Use Customer Journey Maps to Improve Customer Experience[C1] Gaming the Gamers: Using Experience Maps to Develop Revenue-Generating InsightsSubmitCase write-up for C13Topic Ideation and New Product AdoptionPrepare[C2] Four Products: Predicting Diffusion (2011) [A9] Connect and Develop:?Inside Procter & Gamble’s New Model for InnovationSubmitProject proposal video and document; Case write-up for C24TopicMarket AnalysisPrepare[C3] Metabical: Pricing, Packaging and Demand Forecasting for a New Weight-loss Drug [A10] Four Steps to Forecast Total Market Demand [A11] How to Assess the Market Potential of Your IdeaSubmitCase write-up for C35TopicThe New Product Development ProcessPrepare[A12] Why the Lean Startup Changes Everything[A13] What Entrepreneurs Get Wrong[A14] Don't Take Risk -- Eliminate it![A15] Evangelizing for the Lean Startup[A16] The New Product Process: The Stage-Gate Game Plan [A17] The Agile-Stage-Gate Hybrid Model: A Promising New Approach and a New Research Opportunity6TopicCommercializationPrepare[C4] TruEarth Healthy Foods: Market Research for a New Product Introduction[A18] A Step-by-Step Guide to Smart Business Experiments[A19] New Product Commercialization: Common Mistakes*[A20] Pricing Policies for New Products (HBR Classic)SubmitCase write-up for C47TopicStrategic ConsiderationsPrepare[A21] Disruptive Technologies: Catching the Wave [A22] What’s Disruptive Innovation?[A23] Tesla’s not as Disruptive as you Might Think[A24] Is Tesla Disruptive?[A25] Why the iPhone Confounds Disruption Theorists[A26] Why Sustainability is Now the Key Driver of Innovation 8TopicFinal Exam and Project PresentationSubmitFinal Exam, project presentation and documentCarey Business School Policies and General InformationBlackboard SiteA Blackboard course site is set up for this course. Each student is expected to check the site throughout the semester as Blackboard will be the primary venue for outside classroom communications between the instructors and the students. Students can access the course site at . Support for Blackboard is available at 1-866-669-6138.Disability Support ServicesAll students with disabilities who require accommodations for this course should contact Disability Support Services at their earliest convenience to discuss their specific needs. If you have a documented disability, you must be registered with Disability Support Services (carey.disability@jhu.edu or 410-234-9243) to receive accommodations. For more information, please visit the Disability Support Services webpage.Academic Ethics PolicyCarey expects graduates to be innovative business leaders and exemplary global citizens. The Carey community believes that honesty, integrity, and community responsibility are qualities inherent in an exemplary citizen. The objective of the Academic Ethics Policy (AEP) is to create an environment of trust and respect among all members of the Carey academic community and hold Carey students accountable to the highest standards of academic integrity and excellence.It is the responsibility of every Carey student, faculty member, and staff member to familiarize themselves with the AEP and its procedures. Failure to become acquainted with this information will not excuse any student, faculty, or staff from the responsibility to abide by the AEP. Please contact the Student Services office if you have any questions. For the full policy, please visit the Academic Ethics Policy webpage.Student Conduct CodeThe fundamental purpose of the Johns Hopkins University’s regulation of student conduct is to promote and to protect the health, safety, welfare, property, and rights of all members of the University community as well as to promote the orderly operation of the University and to safeguard its property and facilities. As members of the University community, students accept certain responsibilities which support the educational mission and create an environment in which all students are afforded the same opportunity to succeed academically. Please contact the Student Services office if you have any questions. For the full policy, please visit the Student Conduct Code webpage.Student Success CenterThe Student Success Center offers free online and in-person one-on-one and group coaching in writing, presenting, and quantitative courses. For more information on these services and others, or to book an appointment, please visit the Student Success Center website.Other Important Policies and ServicesStudents are encouraged to consult the Student Handbook and Academic Catalog and Student Services and Resources for information regarding other policies and services.Copyright StatementUnless 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 Academic Ethics Policy. ................
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