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University of Southern CaliforniaMarshall School of Business
MKT 445: New Product Development and BrandingSyllabus: Spring
2013
Professor Matthew SeloveOffice: HOH 803Office Phone:
213-740-6948E-mail: [email protected]
Class Times and Locations:Tue., Thurs. 4:00 PM - 5:50 PM HOH 305
(Section 16492R)Tue., Thurs. 6:00 PM - 7:50 PM HOH 305 (Section
16493R)
Office Hours:Immediately after class(or by appointment)
Overview
This course addresses two of the most important problems
companies face: how to developsuccessful new products, and how to
build and sustain brands. It will be useful to studentsinterested
in a wide range of careers, including marketing research managers,
productmanagers, entrepreneurs, and consultants.
The first part of the course, on new product tactics, will cover
interview techniques forunderstanding customers needs, quantitative
market research methods for measuring customerpreferences, and ways
of predicting how successful a product will be if it is
launched.
The second part, on new product strategy, will focus on
analyzing a companys uniqueresources to decide which types of
products it should develop. We will also address how todevelop new
resources, and how to respond to products developed by innovative
newcompetitors.
The third part, on branding, will study how to build and sustain
brands, when to extend anexisting brand to cover a new product, and
when to launch an entirely new brand.
Prerequisite:
BUAD 307 - Marketing Fundamentals
Required Text:Course Reader
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Grading30% Midterm exam 130% Midterm exam 230% Final team
project
10% Class participation
An individual one-page write-up is due prior to each case
discussion (you choose 4 out of the 5cases to write up). Please see
more details in the section on Case Discussions below.
Definition of Letter Grades
In a typical section the average grade is between B and B+.
Following is how final letter gradesare determined for a typical
section:
ANear-perfect performance in every component of the class. In
the past, very fewstudents have received this grade.
A-
Overall performance that is substantially above the class
average. Note that badperformance in one part of the class can
offset good performance in another part.For example, a student who
is substantially above average on both midterms, butbelow average
in participation and below average on the final project will
typicallyreceive a grade of B+ or lower. Similarly, a student who
is substantially aboveaverage in participation and on the final
project, but below average on the midtermswould also typically
receive a grade of B+ or lower.
B+Overall performance that is slightly above average. Because
most students workhard and do a good job in the course, average
performance is quite good, and I
consider a B+ a good grade.
B, B-, C+
Overall performance that is average or somewhat below average.
For example, astudent whose midterm grades are slightly below
average, whose participation iswell below average, and whose final
team project is average would typically receivea B-.
C, C-Overall performance that is significantly below the class
average. For example, astudent whose midterm scores are near the
bottom of the class, and whoparticipates rarely, and whose final
project is average would typically receive a C-.
D, F
Overall performance that is unacceptably low. Also given to
students who do notturn in some assignments, or who repeatedly fail
to contribute to the team project.For example, a student who misses
one of the midterms (and does not schedule amake-up with me in a
timely manner), but completes all other assignments, would
typically receive a D, while a student who misses one midterm
and also does notjoin a final project team would typically receive
an F.
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Project deadlines:
April 9: One-paragraph project proposals are due by e-mail.
April 25 and 30: In-class project presentations (15-minutes per
team) will take place.
May 2: Presentation write-ups are due at the start of class.
Please e-mail me a copy and alsobring a hard copy to class.
The write-up should be 6 to 8 pages (double-spaced). The purpose
of the page limit is to forceyou to focus on the key points and
make your points concisely. Teams that use single-spacingor exceed
the page limit will be penalized with a reduction in their grade.
Your write-up mayinclude an appendix with additional charts and
figures, which do not count toward the page limit.
You should cite any sources of information used as the basis of
your report, such as books,newspaper articles, web pages, and
personal interviews.
Team Project Topic: New Product Proposal
1. Choose a company (not one from the class case
discussions).
2. Provide a brief overview of the company: when it was founded;
recent revenues andprofits; key products; types of customers it
serves.
3. Describe at least 3 important resources the company has: What
makes each resourcevaluable? What makes it difficult to
imitate?
4. Choose at least one key competitor and describe how its
resources are different thanthose of the focal company.
5. Based on this analysis of resources, come up with an idea for
a new product thecompany could launch. This product can be new to
the world, new to the firm, or anextension or improvement of an
existing product line.
6. Describe market research that you would conduct before
launching the product. Discusshow you would use at least one
qualitative method (e.g. interviews, ZMET) and at leastone
quantitative method (e.g., surveys, perceptual mapping, conjoint
analysis,
ASSESSOR).
7. Describe how the results of your market research might change
your plans for the newproduct. In what cases would the results
cause you to abandon the product idea? Howmight you change product
features in response to the market research?
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Team Management:
An important goal of the team project is to give you experience
working in groups. All membersof a team will receive the same grade
for the project; however, it is important for everyone tocontribute
and be a reliable teammate. If a particular teammate is not meeting
expectations,then you should first address that person directly,
and ask him/her to take the project more
seriously. If this does not work, then you may let me know. In
extreme cases, I will allow a teamto remove a teammate, or I may
reduce the class grade of someone who is not contributing.
Class Schedule
In t roduct ion
Tue. 1/15 Course Overview
Part 1. New Produ ct Tactics
Thurs. 1/17 Understanding Customer Needs
Tue. 1/22 Generating New Product Ideas
Thurs. 1/24 Perceptual Mapping
Tue. 1/29 Case Discussion: Johnson Wax: Enhance (A)Case
questions for one-page write-up:(1) What customer needs are served
by the new Enhance product?(2) What information about Enhance do
respondents have when they decide
which brand to purchase in the lab study?(3) What additional
information do they have when they decide whether to make
a repeat purchase?(4) Given the results of the ASSESSOR test,
what course of action would you
recommend to Johnson Wax?Thurs. 1/31 Conjoint Analysis
Tue. 2/5 Messenger Bag GameAt least one member of your team
should bring a laptop computer to class.
Thurs. 2/7 Messenger Bag Game: Results and Discussion
Tue. 2/12 Concept Testing
Thurs. 2/14 Concept Testing: Results and Discussion
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Part 2. New Prod uct Strategy
Tue. 2/19 Introduction to Resources
Thurs. 2/21 (TBA)
Tue. 2/26 Company Resources: In-class mini-case discussions
Thurs. 2/28 Review for Midterm 1
Tue. 3/5 Midterm Exam 1
Thurs. 3/7 Case Discussion: Google, Inc.Case questions for
one-page write-up:(1) What are Googles resources?(2) What new
products is Google developing?(3) Will its current resources allow
Google to be successful with these new
products?
Tue. 3/12 Developing New Resources
Thurs. 3/14 Case Discussion: Real Madrid Club de FutbolCase
questions for one-page write-up:(1) What are Real Madrids
resources?(2) What investments do they need to make to sustain
these resources?(3) Should Real Madrid try to develop a large fan
base in the United States?
Tue. 3/19 Spring Break
Thurs. 3/21 Spring Break
Tue. 3/26 Responding to Innovative New Competitors
Thurs. 3/28 Case Discussion: eReading: Amazon's KindleCase
questions for one-page write-up:(1) Name three companies that are
threatened by the Kindle, and describe how
the Kindle could hurt their business.(2) How should each of
these companies respond to this threat?
Part 3. Bran ding
Tue. 4/2 Building and Sustaining Brands
Thurs. 4/4 Case Discussion: BurberryCase questions for one-page
write-up:(1) What challenges did the Burberry brand face in
1997?(2) How did the new management team address these
challenges?
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Tue. 4/9 Choosing a Name, and Extending Brands
Each team should e-mail me ([email protected]) a project
proposal with:- Names of all team members.- A one-paragraph
description of your project idea.
Thurs. 4/11 Review for Midterm 2
Tue. 4/16 Midterm Exam 2
Conclus ion
Thurs. 4/18 Pricing, part 1
Tue. 4/23 Pricing, part 2
Thurs. 4/25 Student Presentations of Team Projects
Tue. 4/30 Student Presentations of Team Projects
Thurs. 5/2 Course Wrap-upTeam projects are due at the start of
class. Please e-mail me a copy and alsobring a hard copy to
class.
Order of Readings in Course Reader
Johnson Wax: Enhance (A) HBS Case 9-583-046
Google, Inc. HBS Case 9-910-036
Real Madrid Club de Futbol HBS Case 9-504-063
eReading: Amazon's Kindle HBS Case 9-709-486
Burberry HBS Case 9-504-048
mailto:[email protected]:[email protected]:[email protected]:[email protected]
