73778 - Product Development and Marketing

Learning outcomes

By the end of the course students should be able to understand the main challenges associated with the development of new products. More specifically students will be able to 1) design a new product development process 2) analyze the competitive advantage of a new idea; 3) assess a new product idea’s value 4) make decision on whether or not a new product idea should/should not launched in the market.

Course contents

1) The new product development process. New product development as a process. The relationship between Research and Development.

2) Identification of opportunities. Ideas generation. Need analysis and classification.

3) Turn the consumer insight into a product. Preference analysis and concept development.

4) Concept testing and sales forecasting. Evaluating the market potential

5) New product Launch. Launching strategies, new product adoption and diffusion

Readings/Bibliography

Reading material for students attending the course

BOOK CHAPTERS

Ely Dahan and John R. Hauser “Product Development - Managing a Dispersed Process.” Handbook of Marketing. B.Weitz and R. Wensley, Eds. Downloadable:

http://mitsloan.mit.edu/vc/Dahan_Hauser_Product_Development_Chapter.pdf (week 1)

Urban, Glen L. and John R. Hauser (1997), Design e Marketing dei Nuovi Prodotti, Prentice Hall,Torino. Chapter, 5-6. (week 2)

Hair, J.F., R.E. Anderson, R.L.Tatham and W.C. Black “Conjoint Analysis” in Multivariate Data Analysis p-387-436. Fifth Edition, capitolo 7. (week 3)

Elisa Montaguti e Gian Luca Marzocchi (2012), “Le Ricerche per il Marketing dei Nuovi Prodotti”, in Ricerche di Marketing, eds.Molteni-Troilo, EGEA, p. 365-87 (week 4)

Urban, Glen L. and John R. Hauser (1997), Design e Marketing dei Nuovi Prodotti, Prentice Hall,Torino. Chapter, 13 p-297-316. (week 5)

Moore, Geoffrey A. (1991), Crossing the Chasm, Harper Collins Publishers: New York, New York. Chapter 1, 2, 3. (Optional) (week 5)

ARTICLES:

a) On innovation and the Marketing and R&D Interfaces

1) Kim, W. Chan, and Renée Mauborgne (2004), “Blue Ocean Strategy,” Harvard Business Review.

1a)Abbie Griffin and John R. Hauser “Integrating R&D and Marketing: A Review and Analysis of the Literature” Journal of Product Innovation Management, Volume 13, Issue 3, [http://onlinelibrary.wiley.com/doi/10.1111/jpim.1996.13.issue-3/issuetoc] pages 191–215, May 1996. http://scholar.google.it/scholar?hl=it&q=Integrating+R%26D+and+Marketing%3A+A+Review+and+Analysis+of+the+Literature&btnG=&lr =

(week 1) (Optional).

b) On idea generation

2) Patnaik, dev and Robert Becker (1999) “Needfinding: The Why and How of Uncovering People’s Needs” Design Manangement Journal

http://www.paulos.net/teaching/2011/BID/readings/needfinding.pdf

(week 2)

2a) Elie Ofek, Olivier Toubia, Didier Toubia “ HEAD vs. LEAD: Disruptions Originating at the High- vs. Low-End of the Market” Harvard Business Press, Product #: 521104-PDF-ENG (week 2)

2b) Barry Bayus (2013) “Crowdsourcing New Product Ideas Over Time: An Analysis of the Dell IdeaStorm Community,” Management Science, 59 (January), 226-244;

http://public.kenan-flagler.unc.edu/faculty/bayusb/WebPage/Papers/Crowdsourcing.pdf (week 2) (opzionale)

c) On opportunity evaluation opportunità, intention to buy as a measure to forecast market potential

3) Morwitz Vicki G., Joel H. Steckel and Alok Guptab (2007) “When do purchase intentions predict sales?” International Journal of Forecasting, 23, 3, July–September 2007, 347–364

http://www.sciencedirect.com/science/article/pii/S0169207007000799# [http://www.sciencedirect.com/science/article/pii/S0169207007000799]

4) Day, G. (2007), “Is it Real? Is it worth it? Can it Win?” Harvard Business Review. Available in the Library of Scienze Aziendali.

(week 4)

6) TruEarth Healthy Foods: Market Research for a New Product Introduction (4065-PDF-ENG) può essere acquistato al seguente link https://hbsp.harvard.edu/import/628400

7) Depth of repeat: http://www.brucehardie.com/notes/006/

(Week 5)

Readings for non attending students

Students who are not attending the course (i.e. students who decide not to participate to the group work) should cover all the articles and book chapters required for attending students (both compulsory and optional) as their required reading). Moreover they are also required to cover the material indicated in the following list.

BOOK CHAPTERS:

Moore, Geoffrey A. (1991), Crossing the Chasm, Harper Collins Publishers: New York, New York. Chpaters 1, 2, 3.

Urban, Glen L. and John R. Hauser (1997), Design e Marketing dei Nuovi Prodotti, Prentice Hall,Torino. Chapter, 13.

Hair, J.F., R.E. Anderson, R.L.Tatham and W.C. Black “Multidimensional Scaling” in Multivariate Data Analysis p-519-546. Fifth edition, Chapter 10.

ARTICLES:

a) On innovation and Marketing and R&D interfaces

1)Abbie Griffin, Brett W. Josephson, Gary Lilien, Fred Wiersema, Barry Bayus, Rajesh Chandy, Ely Dahan, Steve Gaskin, Ajay Kohli, Christopher Miller, Ralph Oliva, and Jelena Spanjol (2013), “Marketing’s Roles in Innovation in Business-To-Business Firms: Status, Issues And Research Agenda,” Marketing Letters, 24:4 (December), 323-337;

http://link.springer.com/article/10.1007/s11002-013-9240-7#page-1

b) On idea generation

3)Laura J. Kornish and Karl T. Ulrich “The Importance of the Raw Idea in Innovation: Testing the Sow's Ear Hypothesis” Journal of Marketing Research, Volume 51, Issue 1 (February 2014);

http://funginstitute.berkeley.edu/sites/default/files/Kornish-Ulrich-IdeaValue-Oct2012_0.pdf

4) Toubia O. and O. Netzer: Idea Generation, Creativity, and Prototypicality 2 Marketing Science 36(1), pp. 1–20

c) On intention to buy as a took to forecast market potential

5) William J. Infosino [http://pubsonline.informs.org/action/doSearch?text1=Infosino%2C+W+J&field1=Contrib] William J. (1986) “Forecasting New Product Sales from Likelihood of Purchase Ratings [http://pubsonline.informs.org/doi/abs/10.1287/mksc.5.4.372] ” Marketing Science 5 (4) , pp. 372–384 November 1.

http://www.jstor.org/stable/184014

d) On conjoint analysis Conjoint Analysis

6) Green Paul E. and A.M.Krieger (1996) “Individualized Hybrid Models for Conjoint Analysis,” Management Science, 42 (6), 850-67.

http://www.jstor.org/stable/2634599

e) On perceptual mapping

7) Hauser John R. and Frank Koppelman (1979), “Alternative Perceptual Mapping Techniques: Relative Accuracy and Usefulness”, Journal of Marketing Research, 16 (November 1979) 495-506

http://s3-ap-southeast-2.amazonaws.com/jigsydney/general/PDF/34163~Alternative_Perceptual_Mapping_Techniques.pdf

Teaching methods

The course will involve lecturing, class discussion, using of statistical software

Assessment methods

This course assessment is based on a team-work and a final exam. The group work aims at measuring a student’s ability to apply both the knowledge and the tools acquired during the course. The final exam aims at testing a student’s individual understanding of the course material.

This course assessment is based on a team-work proposed by the teacher (50%) aimed at ascertaining whether students can design a new product development process and measure the expected market value of an innovation and, a final exam aimed at ascertaining the extent to which a student has acquired the knowledge shared in the course (50%)

Team-work

To complete the team-work students need:

1) to hand in: a 12 slides pptx and, a word file (appendix) encompassing both information and data that the group deems relevant, including the statistical analysis necessary to obtain the results and conclusions presented in the presentation ( the length of this document is free).

2) to present their work during the last meeting of the course.

The assessment of the group work will be based on the material handed-in (80%) and the presentation (20%).

Final exam

The final exam will be based on the subjects discussed during the meetings and on all the material included in the course reading list ( for attending and non-attending students.

The final exam will encompass two open questions and, four multiple choices and, a non-mandatory exercise.

The assessment of the final exam will be based on the following grid:

<18 failed

18-23 sufficient

24-27 good

28-30 very good

30 cum laude honors

The final exam will last no longer than an hour.

Teaching tools

See the website of Elisa Montaguti [https://www.unibo.it/sitoweb/elisa.montaguti/en]

Office hours

See the website of Elisa Montaguti