Title: The Past and Future of New Product Development – Edsels to iPads
Class: MAR 2011 (Principles of Marketing). On-ground format.
Time Frame: Evening Class
Introduction: New product development (NPD) is an integral part of the study of Marketing, and students seem to enjoy the topic. It’s a consideration of the past, present, and future of new (for the time) products. I’ll use it to introduce the two chapters on produce development and management.
Students will gain perspectives on the process of new product development and its importance to the on-going success of a business entity.
Pre-Assignment: Read Chapter 8 in textbook. Complete on-line quiz for chapter 8.
Audio Clip (approx. 10 minutes with discussion):To introduce the subject in a fun, thoughtful way, I will use a clip from “This American Life” from NPR, hosted by Ira Glass. It’s called “A Better Mousetrap,” originally aired in 2006.
Visual Exercise; Flops and Fliers
Present live products to discuss ideas why some products were “flops” and others “fliers.”
Video (approx. 15 minutes with discussion): I have a short piece from youtube that covers accidental “discoveries” from the past that led to very popular current products.
Infographics:(approx. 45 minutes with discussion): We’ll discuss how successful companies handle the NPD process with the help of the following infographic. In an open discussion, we will review and add to our previous class discussions on corporate strategy, focus, core competencies, the external environment, competitive pressures, and the establishment of an innovation process.
We’ll use a well-known consumer products companies in the discussion to illustrate these concepts. We’ll use that company’s web site in our smart classroom to get a feel for their culture and processes regarding NPD.
We’ll also briefly discuss the internal process.
Interactive Engagement Strategies (approx. 45 min): Group Activity – “Brown Boxes”
Students form groups of three and are given a small object wrapped in brown kraft paper. Each group receives a different shaped object. They are asked to develop a new product using the wrapped object as a starting point. In “developing their new product,” they must consider market rationale, target consumer, product description and function, retail pricing, retail outlets, and promotional plan. Each group is allotted 1 ½ to 2 minutes to present the product to would-be investors (the rest of us). This has been a good way to illustrate the process while having some fun. [Incidentally, there have been some really great product ideas presented!]
Prezi presentation and discussion: (approx. 20 min.): Technology of the Future
This prezi will be used as a thought-starter for students to imagine potential products of the future based on new technologies.
Learning Evaluation: Instructor will formatively assess student learning based on discussion participation and quality.