MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE SPRING, 2015 ALAN WHITEBREAD OFFICE—W358 Phone: 834-1963 E-Mail: Alan.Whitebread@ttu.edu ALWAYS INCLUDE WHAT CLASS YOU ARE IN! HOURS— Usually M, W 9-10, 11-11:30, and 2-5, or by appointment. TEXT #1 TEXTBOOK – B2B Brand Management, ISBN-10 3-540-25360-2 or ISBN-13 978-3-540-25360-0 , Springer, paperback, 2008. Textbook savings may be found at bartelby.com, bookrenter.com, campusbookrenter.com, chegg.com, gutenberg.org, and others. #2 ADDITIONAL MATERIALS MAY BE OBRAINED FROM TWO LEADING PROFESSIONAL ORGANIZATIONS - Product Development & Management Association http://www.pdma.org/ or Project Management Institute http://www.pmi.org/info/default.asp #3 Check the website http://awhitebread.ba.ttu.edu -daily- for the latest information on the course and support materials. COURSE DESCRIPTION / OBJECTIVES AND ORGANIZATION This course will provide a comprehensive overview of product / brand management and new product development. There will be a mix of theory and actual business applications of the theory. The student will demonstrate application of all major theories through interactive class participation, exams, and homework. The course begins with a fundamental framework for product management and product development in large organizations [total corporate sales >$500 million]. Sources of information will include the class lectures, textbook, current events, handouts, selected items on the web, postings on http://awhitebread.ba.ttu.edu, and library resources. EXPECTED LEARNING OUTCOMES At the end of the course, students will have an understanding of the following. Creative Solutions: Develop creative solutions to Marketing problems focusing on brand management and new product development [NPD] issues. Define and Assess: Define market segments and assess attractiveness in a multi-brand active NPD environment. Application: Apply Marketing knowledge to manage relationships with customers, suppliers, and internal groups. Ethical Decisions: Identify ethical content and decisions in brand management. Marketing Plan: Identify components of a Marketing plan and their impact on brand management and NPD issues. Globalization: Identify the implications of globalization on brand management and NPD. Role of Marketing: Explain the role of Marketing in the organization and society and the fit with brand management and NPD. COURSE GRADING The final grade will be based on demonstrating competence in the best five of six non-comprehensive exams. Exams may cover any materials since the previous test—texts, lectures, discussions, handouts, web sites, current events, library and online information, and vocabulary. Lectures will expand on and explain the key components of the reading materials listed in the syllabus. The five exams are 100% of the final grade (20% each). Optional homework assignments and in-class quizzes provide the student with an opportunity to earn additional test points. Reading all the appropriate materials before the lecture will greatly help student understanding of the material. Students will find the tests quite difficult if they are not thoroughly familiar with all course materials. The following grade scale applies. A=81% and above B=74% to 80% C=67% to 73% D= 61% to 66% F=60% and below All students should be prepared to answer random questions in class—failure to do so could negatively affect their grade. Attendance is required and the student is expected to be on time. If you miss a class you need to get good lecture notes from a classmate. Students will find the tests quite difficult if any classes are missed, vocabulary is not learned, slides and notes are not studied in detail, and the book is not reviewed. Since all assignment dates are detailed on the syllabus, the student bears total responsibility for complying with the requirements of the course. NOTICE: Late or make-up exams will not be given. If you miss an exam or an exercise you will receive a zero. No extra credit projects will be allowed. Grades will only be discussed in person in my office. If you must miss class, see me in advance so we can arrange for you to complete the work before your absence. WITHDRAWALS A student will receive a WP [withdraw passing] only if they have a D or better in the course at the time of withdrawal. CLASS CONDUCT Standards of academic honesty will be observed in accordance with TTU policy, as detailed in Operating Policy 34.12. Special accommodations to students with disabilities will be made, as detailed in Operating Policy 34.22. Student absences for the observance of religious holy days will be allowed, as detailed in Operating Policy 34.19. CIVILITY IN THE CLASSROOM Students are expected to assist in maintaining a classroom environment conducive to learning. In order to assure that all students have an opportunity to gain from time spent in class, unless otherwise approved by the instructor, students are prohibited from using beepers, cellular phones, headphones, iPODs,, pagers, or other electronic devices, eating or drinking, making offensive remarks, reading newspapers, sleeping, or engaging in any other form of class distraction. You may use a computer only to take lecture notes in my classes but it will be hard to keep up. Students that take hand-written notes on the partial slides I provide usually do quite well in my classes. Inappropriate behavior in the classroom shall result in, minimally, a request to leave class. ADA STATEMENT Any student who, because of a disability, may require special arrangements in order to meet the course requirements should contact the instructor as soon as possible to make any necessary arrangements. Students should present appropriate verification from Student Disability Services during the instructor’s office hours. Please note instructors are not allowed to provide classroom accommodations to a student until appropriate verification from Student Disability Services has been provided. For additional information, you may contact the Student Disability Services office in 335 West Hall or 806-742-2405. 8/10/2012 10:07:47 AM MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE SECTION LECTURE[S] DATE[S] ALL SPRING, 2015 TITLE [Chapter: page(s)] [key items, excerpts from one key article per section as appropriate] HOMEWORK opportunities must be complete, professional – computer printout only, and will only be accepted at the start of class on the date indicated. Any or all of the materials due may be selected to be presented. Students MUST USE the project templates for development of their materials to receive any credit. o LECTURE EXCERPTS will only be available until that section’s test. o If a link does not work, search on the topic to find another link with that content. 1/14 Introduction to the course KEY ONLINE ARTICLE: “Best Global Brands 2013” by Interbrand 1 1/16 Brand Managers, Channel Managers, Product Managers, and New Product Development Managers as Product Champions Their organizational role Typical job descriptions and compensation Characteristics of good product managers Leading and sustaining development teams Organizational hurdles, politics, and issues Value-based management [VBM] Corporate innovation Product development within an SBU 2A 1/21 Corporate Strategy and Customer Orientation: Understanding Wants, Needs, and the Competitive Environment Introduction to some of the New Product Development [NPD] schools of thought The Configuration School of NPD and organizational behavior: defenders, prospectors, analyzers, and reactors Tools and techniques Core competencies RECOMMENDED ARTICLE: “The Core Competence of the Corporation”, C. K. Prahalad and Gary Hamel, Harvard Business Review, May-June, 1990. You can access this article online through the TTU Library.. Key success factors SWOT analysis BCG and McKinsey / GE strategic planning models 2B 1/23 Corporate Strategy and Customer Orientation: Understanding Wants, Needs, and the Competitive Environment [continued] Porter: Five Forces, and Competitive Advantage of the Firm Gap analysis Five Steps for NPD Success The Core-Branded-Augmented Product Chart Strategic Options 3 1/26 Brands and Brand Management: An Introduction [1: Being Known or Being One of Many pp. 1-13] Brand definition – What does branding do? The Core-Branded-Augmented Product Chart expansion to the expanded Generic-Core-Branded-AugmentedPotential Product Chart concept Goods-Services Continuum Tools and techniques Product Risk Analysis: Understanding types of risk Minimizing risks Brand assets to brand strength Brand equity [definition – financial formulas – off-balance sheet items* [many references – see index in text] Factors for enduring brand leadership Tools and techniques Brand challenges 8/10/2012 10:07:47 AM MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE 4A SPRING, 2015 Brand opportunities KEY ARTICLE: “Package-Goods Brands Lose Loyalty in a Recession”, Advertising Age http://adage.com/article?article_id=137436 1/28 Overview of the Strategic Brand Management Process [2: To Brand or Not to Brand pp. 15-60] Identify and establish brand positioning and values Tools and techniques Introduction to Points of Parity, Points of Difference, and Points of Contention Competitive Frame of Reference Core Brand Values Brand Mantra KEY ARTICLE: “How to Brand Sand”, Booze Allen http://www.strategy-business.com/article/16333?gko=7a2df Plan and implement brand marketing programs Brand elements Brand value Growing and sustaining brand equity 1/30 TEST #1 [Sections 1 through 4A] 4B 2/2 Brand Management Approaches [3: B2B Branding Dimensions pp. 65-105 only] Brand Identity Prism Brand Management Approaches – An Overview Economic approach Identity approach Consumer-based approach Customer-based Brand Equity [CBBE] Personality approach David Aaker’s Brand Equity Model Relational approach 5 2/4 & 2/6 Brand Types and Characteristics [4: Acceleration through Branding pp. 157-201] Building a Brand Brand identity, Brand Meaning, Brand Response, Brand Relationship Brand identity traps Tools and techniques IN-CLASS EXERCISE: Build a Mind Map Positioning and the benefits of a strong brand 6 2/9 & 2/11 Career Fair & 2/13 7A 2/16 8/10/2012 10:07:47 AM New Product Development: Risk Assessment Identify Critical success factors Derivative, platform, and breakthrough new products Idea generation methods KEY ARTICLE: For methods http://members.optusnet.com.au/~charles57/Creative/Techniques/ In-class Creativity exercises, analytic exercises, experiential exercises Product Generation Map Introduction Technology Roadmap Introduction Concept screening and selection: form, function, design, aesthetics, … Project selection Three Key Questions Market Research and Market Segmentation Using research to define needs, wants, and sources of value Questions, answers, and questionnaire construction Tools and techniques [overview] Qualitative techniques Competitive analysis and product line analysis MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE 7B SPRING, 2015 Contextual research principles and process Users: interview users, free association, focus groups, and projective techniques Quantitative techniques Customer-perceived value Correspondence mapping Concept testing Brand attributes and brand benefits Perceptual mapping Quantitative techniques: Factor analysis, multidimensional scaling, conjoint analysis Principal components analysis [PCA] Brand personality The Power of Brand Passion KEY ARTICLES: [1] Brand Personality – The Relationship Basis Model, started at UC Berkeley Hass School of Business http://www.scribd.com/doc/6841796/Brand-Personality 2/18 Market Research - 2 Quantitative techniques: cluster analysis Market Description and Expected Buyer Behavior Market Segmentation Deloitte Review 2/20 TEST #2 [Sections 4B through 7B] 7C 2/23 Consumer Market Segmentation [6: Beware of Branding Pitfalls pp. 277-295] Selecting target markets [Kotler’s five tests] RECOMMENDED ARTICLE: "Rediscovering Market Segmentation," Harvard Business Review, February, 2006, pp.122-131. [see TTU library online journals] Meaningful Differentiation and benefit presentation Estimating market [segment] potential [This is included with market segmentation in Section 7B] 8A 2/25 New Product Development Process: From Concept to Launch [7: Future Perspective pp. 297-323] Managing product development teams Responsibilities and challenges The importance of speed-to-market Key project questions Project management basics Tools and techniques PERT, CPM, and Gantt charts Engineering requirements Product design strategy alternatives Rapid prototyping methods and development Iterative concept and product design Cross-licensing 8B 2/27 NPD Process: From Concept to Launch Standards, Quality, and Product Liability Standards, product and performance specifications, and product testing Quality Concepts: TQM, continuous improvement, benchmarking, lean manufacturing, QFD, ISO, and Six Sigma Quality and product life expectations Hazard analysis and design failure mode & effects analysis Selecting and specifying product packaging for maximum effect Packaging and safety Assessing product liability IN-CLASS CASE REVIEW: Strategos - Radically Accelerate and Improve New Product Development 8/10/2012 10:07:47 AM MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE 8C SPRING, 2015 3/2 NPD Process: From Concept to Launch: Advanced Topics Business Market Segmentation Defining segments [especially business segments] KEY ONLINE ARTICLE: The Service Side of B2B Marketing, Bob Donath & Co., Inc. Indicators of market potential; Estimating market segment size and potential 3/4 TEST #3 [Sections 7C through 8C] 9A 3/6 Selling the Project I: The Marketing Plan Requirements of a Successful Project Integrating the new product[s] with the rest of the business: Brand Portfolio The value proposition and the Brand Value Chain Unique selling proposition [USP] [Domino’s] KEY ONLINE ARTICLE – How to Create Your USP… Getting the positioning and the Marketing Mix Right: An Overview IN-CLASS CASE REVIEW: TACO BELL Product Development Product and brand creation/naming flow chart 9B 3/9 Selling the Project – 1 New Product Forecasting / Using IMC to Drive Customer Value Tools and techniques New product forecasting alternatives and their use Using IMC to drive customer value understanding [advertising, collateral, media planning, public relations, trade shows, …] Feedback and feedback loops Integration with the sales organization[s] Creating successful sales training and sales materials [collateral; demonstration; FABs; …] The Launch and year 1 Implementation 10A 3/11 Brands: Supply Chain Management and Channel of Distribution Management Supply Chain Management Channel definitions and design basics Channel alternatives, channel selection, and channel maps 10A 3/13 Brands: Supply Chain Management and Channel of Distribution Management -Continued Channel of Distribution Management Simple versus complex channels [detailed coffee example] Competitive advantage through channel design 10B 3/23 Brands: Supply Chain Management, Channel Management, and Value Chain Management – CONTINUED Simple versus complex channels [detailed coffee example] Competitive advantage through channel design 11A 3/25 Maximizing Value and Implementing Price Strategy, Tactics, and Laws Foundations, issues, objectives FABs Understanding and establishing value Understanding the role of cost structures 3/27 TEST #4 [Sections 9A through11A] 3/30 Brands: Pricing Strategies, Tactics, and Laws Product Pricing Strategies, tactics, and laws 11B 8/10/2012 10:07:47 AM MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE SPRING, 2015 12 4/1 Detailed Integrated Marketing Communications [IMC] Plan [3: B2B Branding Dimensions pp. 105-150 only] An overview of IMC Setting objectives and budgets Developing a comprehensive IMC plan with the right mix Collateral: Literature Media schedule; Introduction to Standard Rate and Data Service [SRDS] Coverage ratio Effective promotion The need for a strong public relations campaign E-commerce E-commerce Objectives Integrating E-Commerce Strategy and Activity KEY ONLINE ARTICLE: IMC Plan Example 13 4/8 Selling the Project II: The Business Plan Contents Accounting and financial items; Pro formas; Budgets Performance measures 14 4/10 IP: Protecting Your Brands and Creations Around the Globe KEY ONLINE ARTICLES: International Patents; International Trademarks; International Trade Secret Issues Trademarks, servicemarks Types of patents Making sure the patent has value Challenging a patent Trade secret law IP record keeping Increasing Sustainable Competitive Advantage with intellectual property 15 4/13 Sales: Ethics, Organizations and Integrating Sales Activities Traits of sales personnel Types of Sales Organizations Sales organization structures Sales management issues Preparing the sales organization[s] for the launch 16 4/15 4/17 TEST #5 [Sections 11B through 15] The Launch Getting ready Roll-out planning Maximizing IMC impact [Colgate Total toothpaste] The supply chain Channel fill[s] and the logistics of supply 17 4/20 Building Successful Brands: The Marketing Plan II A Comprehensive Look at the Product Life Cycle Ansoff’s product-market expansion grid Product Family and Life-cycle Planning / Management Brand extensions: risks and opportunities Product line management: expansion, modification, and discontinuation Saving a Brand: Johnson & Johnson Tylenol KEY ONLINE ARTICLES: [1] Successful Brand Repositioning, McKinsey & Company and [2] Trading Up [Coach style], Forbes 18 4/22 Building Successful Brands: Years 2 and Beyond 8/10/2012 10:07:47 AM MARKETING 4356 – BRAND / PRODUCT MANAGEMENT AND NEW PRODUCT DEVELOPMENT COMPREHENSIVE SYLLABUS AND STUDY GUIDE SPRING, 2015 Tools and techniques Review: 1-Product Generation Map / 2-Technology Roadmap Portfolio planning and analysis Market metrics: continuous customer feedback Advanced brand management topics Managing the Product Life Cycle; Licensing Co-branding Managing and building relationships From Private Labels to Store Brands – Private label strategies Generic Brands IN-CLASS CASE REVIEW: Air Products & Chemicals: Implementation of a Global Customer Loyalty Process KEY ONLINE ARTICLE: Foster’s Group Investor Conference Presentation 19A 4/24 Business-to-Business [B2B] Brands Characteristics of B2B vs. B2C markets B2B competition and market segmentation Make or buy decisions Disruptive innovation and technologies IMC / Sales Management OEM / Private Label strategies and the importance of services 19B 4/27 4/29 TEST #6 [Sections 16 through 19A] RESEARCH DAY – on your own - Explore When things go wrong! Find examples of brand marketing problems for in-class discussion on 12/2. 20 5/1 When things go wrong! Discussion of your examples A Detailed Comparison of Brand Management Approaches Economic; Identity; Consumer-based; and Personality 21 5/4 International Brands and Issues KEY ONLINE ARTICLES: [1] “Customer “IKEA”, Kerry Capell, [Business Week, November 14, 2005 pp.96-106] and [2] “Kraft Reformulates Oreo, Scores in China” 22 Advanced Topics and New Developments: Leading World-Wide Marketing and Sales in a large company. NO COMPREHENSIVE FINAL EXAM FOR THIS CLASS! 8/10/2012 10:07:47 AM