24742 New Product Management

Warning: The information on this page is indicative. The subject outline for a particular semester, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject level:

Postgraduate

Handbook description

This subject has been designed to enable students to develop an in-depth understanding of the processes, philosophies and concepts associated with new product management in contemporary organisations. Although the focus is on new products, the forces driving the process stem from the need for organisations to remain relevant, effective and competitive in a dynamic environment. While the subject matter is primarily from the field of marketing, the nature of successful product and growth management requires sensitivity to other fields of study such as strategic management, finance, manufacturing, information technology and organisational behaviour in order to effectively guide the process. This subject requires students to explore the various fields of study and examine research as a basis for building a strong, practically oriented capability for new product management.

Individual and team projects have been designed into the subject which require students to come to terms with the applied aspects of new product management. Students own work experiences also greatly facilitate class discussion and debate on the topic.

Subject objectives/outcomes

Upon successful completion of this subject students should be able to:

1. demonstrate awareness of the relevant theoretical and practical dimensions of new product management
2. develop knowledge and skills in new product and service management as part of the management process of a public or private sector organisation
3. evaluate the role that new products play in the growth and development of an organisation
4. to undertake research as the basis for analysis and preparation of recommendations for how new products should be developed, managed and launched.

Contribution to course aims and graduate attributes

This unit focuses on the development of effective, market-oriented planning and strategies for new product development and management. In this subject new product related issues are addressed that are relevant to managers in most industries, and in complex environments in which they face competitive, technological, and cross-cultural issues when attempting to drive organisational growth. The emphasis in this subject is on developing critical thinking based on a sound understanding of the underlying logic of new product management within the marketing context and its interaction with other management disciplines. It is an elective post graduate subject and is designed to provide a practical and useful focus on an important dimension of marketing.

Teaching and learning strategies

Students will be encouraged to undertake research, study the literature and monitor the media on subjects related to new product management. By creating a broader perspective on the topic, class debate and student learning should be made more effective than if it was confined only to text material. Each week the three hour session will be made up of a number of components which will emphasise student input and enhance the learning process. A typical week will consist of a combination of the following; a lecture, a student presentation on their own literature or field research findings, a team workshop. All of these activities will take place in an atmosphere of active discussion and debate.

Content

• Introduction to new product management
• The new product process
• Opportunity identification and strategic planning
• Customer focus for new products
• Positioning of new products
• Concept evaluation and testing
• Full screen and forecasting demand
• Product design and protocol
  

Assessment

Assessment Item 1: Mid-term Exam (Individual)

Assessment Item 2: New Product Project (Group)

Assessment Item 3: Final Exam (Individual)

Minimum requirements

Students must achieve at least 50% of the subject’s total marks, and must achieve at least 35 out of the possible 70 marks of the combined mid-semester and final exams.

Required texts

Crawford M and Di Benedetto, A, 2011, New Products Management, 10th edn, McGraw-Hill Irwin, Boston

Recommended texts

‘Guide to Writing Assignments’, Faculty of Business, UTS, Revised Edition-
Available from the University Co-op Bookshop and online at
http://www.business.uts.edu.au/teaching/student/index.html

References

Support References;

• Business Fundamentals: New Product Development, second edition, Harvard Business school Publishing, HBS # 9896.
• Aaker D A 2005, Strategic Market Management, John Wiley and Sons INC
• Best R J, 2004, Market Based Management, Prentice Hall, New Jersey
• deChernatony L, 2001, From Brand Vision to Brand Evaluation, Buterworth Heinemann, Oxford
• Keller K.L, 2003, Strategic Brand Management, Prentice Hall, New Jersey
• Thomas R. J. 1993, New Product Development, John Wiley and Sons, New York.
• Urban G. L. and Hauser J. R. 1993, Design and Marketing of New Products, Prentice Hall, New Jersey.
• Rust R T, Lemon K N and Narayandas D, 2005, Customer Equity Management, Person, New Jersey

Periodicals

• Brown T, and Katz B, 2011, Change by design, The Journal of Product Innovation Management, V 28, 3
• Gromark J and Melin F, 2011, The underlying dimensions of brand orientation and its impact on finacial performance, The Journal of Brand Management, V 18, 6
• Melo T and Galan J I, 2011, Effects of corporate social responsibility on brand value, The Journal of Brand Management, V 18, 6
• Ogawa O and Piller F T, 2006, Reducing the risks of new product development, Sloan Management Review, Vol 47, 2
• McMellon C A, 2005, Defending the Brand: Aggressive Strategies for Protecting Your Brand in the Online Arena, The Journal of Product and Brand Management, Vol 14, Iss 1, pp 75-78
• Montaguti E, Kuester S and Robertson T S, 2002 “Entry Strategy for Radical Product Innovations: A Conceptual Model and Propositional Inventory”, International Journal of Research in Marketing, March
• Reast J D, 2005, Brand Trust and Brand Extension Acceptance: The Relationship, The Journal of Product and Brand Management, Vol 14, Iss 1, pp 4-14nd Brand Extension Acceptance: The Relationship, The Journal of Product and Brand Management, Vol 14, Issue 1, pp 4-14.

Literature references

Students who are keen to further extend their knowledge of this area should also conduct their own original literature and media searches. Journals of particular focus are:

• Journal of Product Innovation Management
• Journal of Marketing
• Journal of Marketing Research
• European Journal of Marketing
• The Journal of Brand Management

Note: Richness of new thinking and research comes forth in the literature of journals and publications. Students wanting to achieve good grades in this subject must expect to spend considerable time researching, reading and integrating ideas into their own thinking and material from the textbook and lectures.