Business Administration Department
Fall
2007
BA347 NEW PRODUCTS MANAGEMENT
Sec. A: Mon, Weds.
1-2:15 p.m. Office
Hours
Dr. Geoffrey P. Lantos
Mon. 10-11:15 a.m.; 2:30-4 p.m.
Office: 219D
Office Telephone: 508.565.1205 Weds. 10 a.m.-noon; 2:30-4 p.m.
Cellphone:
508.369.4324 Thurs. 10 a.m.-noon
Fax:
508.565.1444 Fri. 10 a.m.-noon
E-mail:
glantos@stonehill.edu. Other
times by appointment or informal
Website: http://faculty.stonehill.edu/glantos.index.htm
drop-in
E-mail
and voicemail messages 24/7
Business
Administration Dept. Administrative Assistant: Mrs.
jpick@stonehill.edu
TEXTBOOK: Crawford, C. Merle, and Di Benedetto, C.
Anthony, New Products Management, eighth edition, Homewood, IL: Richard
D. Irwin, Inc., 2006.
COURSE
DESCRIPTION:
"Considers the role of new
products in organizations and society.
Focuses on special problems firms encounter in the new product
development process: generating and evaluating new product ideas, market
testing, introducing, and marketing new consumer and industrial products. Studies factors that account for new product
successes and failures in the marketplace.
Students develop their own plans for developing, testing, and marketing
a new product. Prerequisite or
Corequisite: BA340" -
BA 347 is an
upper-level marketing course providing a managerial approach to the new product
development (NPD) process (NPDP). It
assumes a basic understanding of the fundamental principles of marketing and
management. Some familiarity with
marketing research is helpful but not essential.
Building upon this knowledge base, the purpose of the course is to provide you with an understanding of the principles and tools that are required to manage the development and marketing of new products (NPs). In order to accomplish this, the theory of NP management and marketing is studied. Equally important, practical applications of NP theories, principles, and tools are presented in real-life situations, calling on many other business disciplines for managerial concepts and analytical tools. Applications are given for all forms of goods and services, whether consumer or industrial, simple or complex (including high-tech products), and for all types of organizations, whether for-profit or not-for-profit, large corporations or small entrepreneurial startups. (However, the authors’ and my emphasis is on consumer goods.)
The
course is: 1) descriptive, providing
you with a basic grounding in and working knowledge of the principles,
language, and methodologies/techniques of NPD; and 2) applications-oriented, offering a variety of practical applications
that portray a full range of research and practice. Applications include end-of-chapter
assignments, case studies, and hands-on exercises to be discussed in the
classroom; examples of marketing strategy implementation of NP development
concepts/theories; and term paper projects that enable you to apply the concepts/theories.
For marketing majors,
this course will illustrate the contributions of the marketing function to NP
development, building on concepts you’ve already learned and introducing new
concepts and applications. For
management majors as well as majors or minors in other business disciplines,
the course will illustrate the important role of NPs both in organizations and
for aspiring entrepreneurs; how to manage and interact with others in the
organization (especially marketers) during the NPD process; and how inputs from
other functional areas in the firm are used in the NPD process. For all students, the course will illustrate
the important role of NPs in society.
The managerial
emphasis in BA347 is on concepts and techniques for planning, developing,
implementing, and controlling NPs.
Strategic planning is viewed from the perspective of the entire
organization as well as from the viewpoint of the marketing and NPs functions. Planning
includes environmental (especially marketplace), societal, and organizational
considerations in identifying marketplace opportunities to match the firm’s
competencies so as to generate viable NP concepts. Development
entails evaluation of the NP concept by the firm and by potential customers; research
and development; design, engineering, and testing of the NP prototype; and
design, testing, and improvement of the NP's marketing program. Those aspects of the marketing program
especially relevant to NPs are emphasized: positioning, branding, packaging,
and introductory sales promotion and publicity.
Implementation involves design
of an effective organizational structure for planning and introducing NPs as
well as coordination of the product's launch within that organization. Control
includes monitoring the product's progress before, during, and after the
launch, as well as over its life cycle and over its diffusion throughout
society; and evaluating the innovation’s effects on society.
COURSE
OBJECTIVES:
The general purpose of
the course is to provide you with a basic understanding of and involvement in
the problem-solving process consisting of a series of interrelated steps known
as NPD, with emphasis on understanding the factors that contribute to NP
success and failure.
The specific goals of
this course are that you:
1. Understand basic concepts of product
innovation management.
2. Become familiar with the stages in the
NPD process.
3. Learn how to practically apply concepts
and techniques so as to minimize the risks involved in NP planning, development,
implementation, and control. This
includes understanding the NP success/failure (S/F) factors that have been
identified and described in numerous studies.
4. Acquire knowledge of the role of NPs in
organizations and in society.
5. Appreciate (a) the systematic scientific
analysis as well as (b) the creative art
and judgment involved in NP management.
6. Develop your written communication skills
and ability to think and write critically and creatively.
7. Improve your oral communication and
presentation skills.
8. Learn to work effectively and efficiently
in a team situation.
9. Integrate your Christian faith with
learning (optional but encouraged).
COURSE REQUIREMENTS:
The
first five objectives are to be achieved when you:
1. Carefully read and study the textbook.
2.
Attend class, participate in classroom
discussions, and review and reflect on what you learn from the textbook and the
classroom.
These
first five objectives, along with the sixth goal, will be accomplished when
you:
3. Complete one short applications-oriented
written assignment; and
4. Carry out a NP term paper team project, which
will also achieve the eighth goal.
The seventh objective will be realized when
you:
5. Participate in classroom discussions.
6. Present selected portions of your NP project
or other relevant NP activities to the class (“special class activities” oral
presentations assignments).
You will attain the final goal if you
elect to partake in opening class devotions and participate with me in
evaluating course material from a Christian worldview as informed by the
Scriptures.
The written
assignments, term paper project, and oral presentations are detailed in
separate handouts.
CLASSROOM FORMAT:
Classroom sessions will involve a variety of teaching and learning techniques. Much of this time will be devoted to lecture on and discussion of material relating to the assigned reading. I will present the topics in a supplemental (to the textbook) and illustrative manner (using transparencies, videotapes, audiotapes, pass-arounds, website visitations, etc.), and these presentations will be integrated with classroom discussions and creative as well as analytical exercises to practically apply the material.
Just as you expect me to come to class
prepared to discuss the assigned topic(s) for the day, I expect you to come to
class prepared to participate in the discussion (active
learning is more productive than passive learning). In order to get ready for active classroom
involvement, you should read the assigned material and prepare to discuss
assigned questions and cases so that you are able to raise insightful
questions, answer my questions, and intelligently contribute to class
discussions. (This effort leads to
increased participation and therefore long-term understanding. Passive learning is the result of reading and
studying the textbook and class notes one or two nights before the exam. This effort only leads to memorizing and
short-term results.)
Informal discussions
of the written assignments and of assigned end-of-chapter questions will be
included as time permits. In-class group
creative exercises will be undertaken.
Audiovisual presentations (DVDs, videotapes, CDs, and audiotapes) will
be used to illustrate applications of NP strategies and to provide further
catalysts for classroom discussions. A
guest speaker will be invited to make the theoretical material "come
alive." Classroom discussion of
case studies will be used to help strengthen your decision-making skills and to
illustrate the application of certain concepts.
Oral team presentations will be given and critiqued by class members
throughout the semester (“special class activities” assignments).
STUDENT EVALUATION:
You will decide within certain parameters
what your workload will be and how you will be evaluated.
Standard student evaluation will be based
on performance on each of the course requirements in the following
heaviest-workload standard grading plan:
Requirement Date(s) of
Completion Relative Importance*
1. Exams
Exam #1 October
10 10-20%
Exam
#2 November
12 10-20%
Final Exam December
?? 15-25%
2. One Written Applica- Group #1 – 10/3 5-15%
tions
Assignment Group #2 –
10/22
Group
#3 – 11/5
Group
#4 – 11/26
Group
#5 – 12/5
3. Team New Product Plan Form teams – 9/12
Term
Paper Project Proposal –
10/1 20-30%
Interim
Peer Evaluations – 11/5
Progress
report – 11/7
Peer
evaluation forms – 12/11
Finished
paper - 12/12, 10:30 a.m.
4. - Team Oral Team #1 – 10/3
Presentation Team #2 – 10/29 2-8%
Team
#3 – 10/31
Team
#4 – 11/5
Team
#5 – 11/26
Team
#6 – 12/3
Team
#7 – 12/10
5. Classroom
Participation Each class
session
and
Attendance 5-15%
100%
* This is
“choose-your-weight” grading. Each student
will choose his or her own weight for each course requirement within the ranges
shown. For instance, you can count the
first exam as low as 10%, as high as 20%, or any percentage point in between
(e.g., 15%). Percentages must add up to 100%. You must let me know your individualized
grading plan by Sept. 21. After that
date you are locked in to your plan—no changes permitted!
Instead of the
standard grading plan, you may also choose one of the following three nonstandard grading plans, each of which evaluates you in areas 1, 3, and 4 above, plus
neither or one of areas 2. and 5.
Option 1:Tests, Term Paper, and Special Class Activities:
Exam #1 - 15-25%
Exam #2 – 15-25%
Exam #3 – 20-30%
Term Paper 23-33%
Team Oral Presentation 4-10%
Option 2:Tests, Term
Paper, and Special Class Activities, plus Written Application Assignment
Exam #1 - 13-23%
Exam #2 – 13-22%
Exam #3 – 17-27%
Term Paper 19-29%
Team Oral Presentation 2-8%
Written Application 8-18%
Assignment
Option 3:Tests, Term
Paper, and Special Class Activities, plus Class Participation
Exam #1 - 13-23%
Exam #2 – 13-22%
Exam #3 – 17-27%
Term Paper 19-29%
Special Class Activities 2-8%
Class Participation 8-18%
GRADING POLICY:
The
formal grading system serves two purposes—motivation and evaluation. General criteria used in grading performance
on the above course requirements include mastery of course material, oral and
written expression skills, originality/creativity, and problem-solving ability. Specific criteria for the short written
assignment and for the term paper assignment can be found in handouts detailing
those assignments.
Examinations
Material
included in exams will be based primarily on material covered in classroom
lectures and discussions, including dialogue on videos, guest speakers,
and material
from case discussions that is conceptual (not factual information from these
materials, such as names and dates).
Secondarily, exams will cover assigned readings in the textbook. You should integrate the lectures, class
discussions, and readings to best prepare for exams. There is much more material in your textbook than is
possible to cover and develop in detail in class. Our class discussions will touch on and
further develop only some of the most important issues. Therefore, although tests will place primary
emphasis on topics that are covered in both the readings and class, they will
also cover the core material and key concepts from your assigned reading and
end-of-chapter questions not reviewed in class. You
should integrate the lectures, class discussions, and assigned readings to best
prepare for exams.
The
first two exams will each focus on material from the particular one-third of the
course just covered. The final
examination will primarily cover the last third of the course (approximately
two-thirds of the exam) but will also cover the first two-thirds (approximately
one-third of theexam).
Each exam will consist of a format emphasizing application of concepts learned and will consist of the following types of questions: concepts (definitions/explanations and examples), conceptual/descriptive short answers, and situational applied problem-solving short answers. (See exam template handout and practice exams from a previous semester on my website.) All exams remain in my office after being graded and reviewed in class—feel free to stop by and review/discuss them with me.
Practice exams from a
previous semester available on my website will be discussed during review
sessions held outside of normal class hours to help you review the material,
answer your questions, and master my exam style. All examinations from this semester remain in
my office after being graded and reviewed in class; feel free to stop by and
review/discuss them with me.
No
make-up examinations will be administered except under unusual
circumstances. If something prevents you
from attending an exam or from turning in an assignment on time, please notify
me, and we can make alternative arrangements BEFORE the exam or class period during which the assignment is
due. I will accept a written medical
excuse or compelling reasons, such as illness or death in the immediate family,
as legitimate reasons for missing an exam or assignment, and I will then allow
you to take a makeup exam or turn in a paper late. However, outside activities or more than one
exam in a day are not acceptable excuses for missing an exam or turning in an
assignment late. (Please plan accordingly.) If I am not contacted in advance, where
possible, I will reserve the right to assign a failing grade for the exam
missed.
If
class is canceled on a scheduled exam day, the exam will be given the next
scheduled class day.
I
strongly recommend that any student who earns a test score below 75 on the
first (or any other) exam see me within a week of getting that test back for a
private tutorial session. This will help
us diagnose why you did poorly, set goals for the next exam, and determine
study strategies to help you improve your grade for that following exam.
Written Papers
Requirements for written papers are as follows:
1.
All written material MUST be typed
(double-spaced, standard one-inch margins, 10-to-12-point font size, 8-1/2 x
11" white paper).
2.
The title of the assignment, your student
number for this course (no names, please on short papers—student numbers will be
assigned), course name and number plus section letter
(A, B, etc.) and the professor’s name should appear on the cover page.
3. Papers received after the due date will be
penalized 5 points (out of 100) for each weekday that they are late, unless (a) prior arrangements have been
made with me (including taking an incomplete for the semester) or (b) unusual
unforeseen circumstances arise. In such
situations the grade on the late assignment might be adjusted downward,
depending on the circumstances. If you
are absent from class when the assignment is due, you may e-mail me your paper
(as an attachment in MS-Word format), drop it off in the metal basket on my
office door, or fax it to me.
4. If you have a writing problem or if English
is not your native language, please come see me so we
can work on such problems.
5. I am available during office hours to
discuss and review outlines or drafts of your assignments. You
may also seek writing assistance from the
professional tutor in the
Remember that your writing will be
evaluated as part of your grade.
6. See your Holt
Handbook for help with formats. You may select any referencing format you
wish, but be consistent in your usage of a format.
7. Other more detailed requirements are
explained on the assignment handouts.
You
will have an optional opportunity to revise
your written applications assignment, if you wish. You will have one week after receiving your
graded paper to improve it according to my suggestions on each of the grading
criteria. You are to hand in both the
original graded paper and the revision.
I will then average the grade of the original and the revision
together. For instance, a paper that
earns a 70 the first time and a 90 on the revision would receive an 80. (Note: I usually return papers during the
class following the class in which they were handed in).
Classroom Participation
In
general, the class sessions should be treated as scheduled business meetings:
Come prepared to participate in class activities. I will reserve the right to hold pop quizzes
any time that the class as a whole appears to be unprepared for class. Pop quiz grades, if necessary, will be
factored in as part of your three exam grades.
If you stay awake and act prepared and interested, no pop quizzes will
be necessary.
It
is vitally important that you play an active role in the learning process. As a result, your participation in class
discussions will be encouraged, expected, and rewarded (quality, not just
quantity!). The "4 P's" of
student involvement in class are: 1) Preparation (read the assigned material),
2) Presence (attend class), 3) Promptness (don't be late and thereby disrupt
the class), and 4) Participation (get actively involved).
Specifically,
classroom participation grading will be based upon:
a) volunteering answers to my questions (and/or
being called upon by me to answer my questions);
b) asking questions of me which indicate
awareness of and interest in the topic under lecture/discussion and/or which
challenge my and other students' thinking;
c) participating in discussions of lecture
material, end-of-chapter questions, cases, written assignments, and videos;
d) providing examples relating your own relevant
personal experiences and insights regarding the discussion topic;
e) being able to spot an occasional "red
flag," i.e., a statement or conclusion presented by me which contradicts
the assigned reading; and
f) attendance.
In
addition to soliciting your voluntary participation, I will frequently
"cold call" on quiet students, even those who opt not to be graded on
class participation. Please keep in mind
there is a difference between not being prepared to respond and simply wishing
to be less verbal. Students who show a
pattern of not being prepared will be downgraded.
After
each class period I will grade you on a one-to-six scale for your daily participation:
1=100, 2=90, 3=80, 4=70, 5=60, and 6=50.
Criteria I will consider in evaluating your classroom performance
include preparation (content mastery), communication skills, interaction
(constructive criticism and building on and reacting to others' ideas),
creativity (generation of insights and applications), and attitude (enthusiasm
and interest). Always remember: It's okay to be wrong when you participate, but
it's not okay to not participate! I
value your efforts equally with the "correctness" of your
thoughts.
Although
I recognize that some students are naturally shy and/or reluctant to speak out
in a classroom situation, it is important that such students learn to actively
participate in class since oral communication and ability and willingness to
participate in discussions and to respond extemporaneously to questions are
vital in the business world as well as in life.
Thus, shyness and/or reluctance to speak out will not be accepted as
excuses for poor oral classroom participation.
If you are quiet and have trouble speaking up in class, see me. We can develop some ways for you to
participate (e.g., for assigned chapters turn in written answers for the
discussion questions or write up your solutions to the cases).
Since
the success of the course depends in part upon active participation by class
members, you must be regularly present to participate in the classroom
discussions. Attending classes reflects
your personal commitment to learning and your willingness to participate in and
contribute to your own and your classmates' development of good marketing
skills. Therefore, attendance will be
regularly taken. Two unexcused missed
classes are considered acceptable; each additional unexcused absence will lower
your final class participation grade by three points. A medically-excused absence, in writing, does
not count as a missed class. You may
miss a limited number of classes due to varsity sports obligations. However, work-related absences (e.g.,
business trips, working extra hours, etc.) do
count as missed classes unless your supervisor provides me with a compelling
written reason. If you miss a class, you
are responsible to get notes (find an attentive and generous classmate who will
allow you to copy notes—mine are undecipherable), important announcements,
handouts, etc. If you are unavoidably late to a class, you
should notify me immediately after class so that you are marked late instead of
absent. Chronic tardiness will result in
a lower class participation grade.
Course Grade
All
work evaluated will receive a numerical grade.
Final course letter grades will be assigned according to the following
schedule:
Letter/ Letter/
Grade Definition Percent Grade Definition Percent
4.0 A
Outstanding 95-100 2.3 C+
77-79
3.7 A-
90-94 2.0 C
Satisfactory 73-76
3.3 B+
87-89 1.7 C-
70-72
3.0 B
2.7 B-
80-82 unsatisfactory 60-69
0.0 F Failure <60
NB:
The letter/definition column is defined in The
Hill Book. For instance, a
"B" is considered a superior
grade, not just a good grade.
Final
numerical grades will be a weighted average of individual numerical
grades. There will be no curves on individual course exams or
projects. At the completion of the semester,
the course average will be computed for the class as a whole. If this average is less than 75, the
difference between 75 and the class average will be added to each student's
course average. If this average is greater
than 75, no adjustment will be made.
In
fairness to all students, no
individual will be allowed an opportunity to do additional work for extra
credit in the course to make up for poor grades, missed exams, or other
problems. Consequently, you should plan
your study needs and time well in advance in order to earn the grade you wish
when the standard opportunities are available.
There are a sufficient number of requirements in this course for you to
make up points should you do poorly in a given area.
However,
I will add points to your lowest-weighted grading requirement’s score (for most
students’ grading plans, this will either be the oral team presentations or
class participation) for the following "extra credit" contributions to
classroom materials, if I consider
them useful:
A five-to-ten minute introductory office
visit
during the first two weeks of classes - 2 points
NP or package sample - 2 points
Interesting NP article - 1 point
Interesting NP advertisement - 1 point
Very interesting examples of two
concepts - 1 or
discussed in class or the textbook 2 points
NP videotape - cost reimbursement
(e.g., segments of "20/20", plus 2 points
“Dateline,““Primetime Live,”
“Frontline,”
and other news magazine TV shows)
Sponsor ("Today's class is brought
to you by..." - 1 point
Corridor conversation question - l point
Great unanswered question (goofy or
serious) - 1 point
Test question and answer - 1 point
End-of-chapter question and answer (like
the ones
at the end of the textbook’s chapters) 1-3 points
Recommending a guest speaker (marketing
professional) who agrees to speak to a class
or to
the Marketing/Management Association
- 3 points
Giving an approximately 5 minute
lecturette on - 2 to 4 points,
a
NP you've come across or read about depending…
Attending a relevant educational event on or
off campus - 2 points
(Limit of one of each of the above per
customer)
Some
general hints on how to succeed in this course based on previous years' student
course evaluations: Be prepared to work hard, keep up with the reading (many
students like to outline it), study the key terms, come to class regularly and
actively participate, take good classroom notes and review them periodically
using the class lecture/discussion outline (i.e., don't cram for exams at the
last minute), print out last year’s exams from the course website and work on
them throughout the semester, attend exam review sessions, work on the term
paper throughout the semester, and don't procrastinates to prepare written
assignments.
ACADEMIC HONESTY:
You
are expected to maintain the highest standards of academic honesty in all of
your work.
The
Hill Book defines
academic dishonesty as follows:
a. Plagiarism: The presenting of another's work
as if it were one's own, failing to acknowledge or
document the source (requires endnotes).
b. Cheating: Giving or receiving, or attempting
to give or receive unauthorized assistance or information
in an assignment or examination.
c. Fabricating data.
d. Submitting the same assignment in two or more
courses without prior permission of the
respective instructors.
e. Employing another person to write a paper or
sit for an examination.
Cheating
outside the classroom can include sharing work of another student, copying
words out of a book without proper citation, doing less than one's share in a
team project without letting that be acknowledged, using a single paper (or
modification thereof) for more than one class, falsifying a bibliography,
writing a paper for someone else, borrowing another student’s paper, and
turning in a paper purchased from a commercial firm or website.
I
work under the assumption that my students are honest. However, if you are caught violating these
standards of academic honesty, I will give you a zero (not just an F) for the
assignment. This would significantly
lower your numerical course average. If
it happens a second time, you will fail the course. I don't anticipate any problems here. Honesty pays in the long run.
PROBLEMS:
If
you are having any difficulties, personal or academic, that are interfering
with your work in the course, please come see me. If we cannot work out a solution in terms of
your performance in this course, I will work with you to see that you get
whatever kind of assistance you may need.
But, please, talk to me when the problem first starts affecting your
work, not at the end of the course as an explanation for poor course
performance. Please consider me as a
resource and mentor. I will be happy to
meet with you at any time during office hours, by appointment, or on a drop-in
basis (if I’m not tied up) to discuss career or personal goals, academic or personal
issues, or anything else you want to talk about. Always
feel free to “let me know if I can help you.”
You should also know that
FINAL NOTES
1. Remember that I work
for you, not vice
versa. You hired me to help you get an education. This is good news and
bad news. The good news is that
I will be as responsive as I am able to your educational needs. You hired me to create a
learning environment for you, to share my expertise, and
to evaluate your educational performance. I will do these things faithfully, as best I can. If you don’t like
your grades, if you think I’m asking too much of you, or if you don’t like any aspect of the way I’m
conducting this course, please let me know it. If you have suggestions, I’ll take them under consideration (see
point 2 that follows). The bad news
is that my job is not to teach you but to help you learn. You must take responsibility for your learning. If you are not learning, I will
try to help you figure out why, and I will do what I can to assist you. But, ultimately, you must fix the problem.
2. Student feedback is essential for course
improvement. I encourage continuous
teaching evaluation. At any time during
the semester you may verbally (e.g., written note or E-mail message) or anonymously
(e.g., via campus mail, or slip a note in the metal box on my office door)
present to me an evaluation of my performance.
This evaluation could include the following headings: 1) Things that I
like; 2) Criticisms; and 3) Suggestions.
3. Above all, this course is intended to
give you a basis for understanding NP marketing and management, but let's have
some fun learning it. It will help if
you come to class prepared to discuss the topics and to share your experiences,
observations, and knowledge. Be thinking
about NPs as you read newspapers and magazines, watch TV commercials, go
shopping, surf the Internet, etc.
COURSE SCHEDULE AND
ASSIGNMENTS:
The
topics covered progress from the general overview of NP management to the
specific stages of the NPDP.
Specifically,
the course begins with a broad organizational overview of the role of NPs and
of the NP marketing and management process in organizations. Then, it proceeds through the NPDP, beginning
with an external and internal search for opportunities based on corporate,
marketing, and NP strategy. Next, NP
concept generation and evaluation are investigated, followed by design and
testing of the product prototype, of the finished product, and of its marketing
program. Then, the implementation of the
product's marketing program during the NP's launch is covered. Finally, the last stage of the process,
control, is studied.
Any
changes in the following schedule will be announced in class. Current supplemental materials might be
issued, as they become available, for optional reading.
