MKT 445: New Product Development and Branding

UNIVERSITY OF SOUTHERN CALIFORNIA

Marshall School of Business

MKT 445: New Product Development and Branding

Fall 2007

_______

Professor: Therese Wilbur

Telephone: (213) 740-4790

E- Mail: (the «t» is critical or your email will go to another Wilbur)

Office: AccountingBuilding 306P(on the side of the Marketing Administrative Offices)

Office Hours: Tuesdays, Thursdays 9:00 - 10:00 AM or 3:50 - 4:30 PM

Wednesdays 9:00 - 10:00 AM; other times available by appointment

Class Meetings: T/TH 12 noon-1:50 PM OR 2:00-3:50 PM in HOH 421______

What’s In This Course For Me?

Relevance--Developing and sustaining branded products (and services) are the foundation of any business. Without them, there are no other P’s.

Applicability--Your understanding of brands and brand equity will be applied in any Marketing career path, from research to sales to advertising.

Creativity--Learn ways to foster creativity and be assigned creative tasks.

Fun--We all have relationships with certain brands. These relationships are the foundation of the course and are very fun to analyze and discuss. In addition, the professor brings in props and goodies to enhance the “fun” factor.

Advancement—This course is the pre-requisite for the premiere of a NEW Marketing course in Spring 2007, MKT 446, Practicum in New Product Development & Branding, taught by me. We will partner with students from Viterbi School of Engineering to create and develop a real, working product prototype. In the long-term, your goal may be a career in Brand Management. This course will guide that decision.

Personalization—I like to mentor my students. I will require one 1:1 meeting in my office to discuss your resume and how you are positioning yourself to future employers. Each class is interactive which also helps me to know you on a more personal level. I am happy to be a reference for your future employers, too (see references for my guidelines).

Our Objectives

The course will provide you with the skills and knowledge to:

Outline the overall New Product Development Process (NPD).
Recognize the roles of brands today.
Define brand equity and know how to build, grow, and sustain it.
Practice translating primary research for a specific consumer segment into key, actionable insights.
Assume the role of a Brand Manager by completing both a Brand Audit and a New Product Proposal for a “real world” brand in the context of your own Brand Management Teams.

Prerequisite

BUAD 307-- Marketing Fundamentals

Required Materials

All text books are on reserve at the Crocker Business Library on the second floor of Hoffman Hall.

Creating Breakthrough Products: Innovation From Product Planning To Program Approval,Jonathan Cagan and Craig M. Vogel, © 2002, Pearson Education, Inc.
Strategic Brand Management: Building, Measuring, and Measuring Brand Equity, 3rd Edition, Kevin Lane Keller, ©2008, Pearson Education, Inc.
Best Practice Cases in Branding: Lessons From The World’s Strongest Brands, 3rd Edition, Kevin Lane Keller, © 2008, Pearson Education, Inc.
Access to Blackboard. All course content will be added to Blackboard( as the class progresses. PowerPoint slides for each lecture will be posted onto Blackboard no later than 6 pm the day prior to class. In addition, all Course Assignments will be posted under “Assignments” on Blackboard for reference. Note-accessing Blackboard is more reliable when you use Netscape as your browser. You can download the browser free from Netscape’s site ( You must use your USC Unix account name and password to access your Blackboard site. Please contactx03000 (Marshall Help Desk) if you do not know your UNIX account name and password or if you have any trouble accessing material from this class.
Access to BRANDWEEK through the Marshall Library ABI/Inform database. It is recommended you access the database from a campus network. If not, you need to follow the on-line set-up to be authorized for off-campus access.

My Expectations

During Class

NO MULTI -TASKING—no phone calls, text messaging, emailing, internet surfing, reading for other classes, whispering or conversing with other students, napping, or completing assignments for other classes. This is distracting and rude to other classmates and especially to the professor. You will be given ONE warning and then dismissed from class. Upon dismissal, you will lose any attendance or participation credit for that day.

Professional behavior—you are in a “work” environment. Please be on-time, prepared, considerate of others, and pick up after yourself. No inappropriate jokes or loud chewing. Turn off cell phones.

Participation—the class is a lot more fun if you actively contribute. In addition, this is part of your grade.

Attendance—consistent attendance will increase your understanding of course material and therefore, improve your overall grade. Although each class is posted on Blackboard, the interactive pieces of class ARE NOT transcribed, such as in-class exercises, discussions, props, goodies, and DVD presentations. In addition, attendance is part of your grade.

Meeting deadlines—assignments are due at the beginning of class and in hard copy form. If you are sick, it is best to send a hard copy of your assignment with another student to class. ANY emailed assignments have a 5% penalty and are due prior to class time. Assignments received the same day or following the class start time and in hard copy form have a 5% penalty (if emailed, the additional 5% penalty applies). Assignments received after the due date suffers a 10% penalty per day for up to 3 days. There is no credit for assignments received after this date.

Exam attendance—this is critical and required at the schedule time and day. ANY exceptions must be approved by me in writing 2 days prior to the exam date. Refer to Make-up Exam Policy for further details.

Outside Class

Complete the reading prior to class. Bring in any questions. I will not review all material in-class although you are responsible to know it and may be tested on it.

Be An Active Group Member. Contribute. Attend group meetings. Communicate. Follow through on-time.

Complete assignments as required and in a professional manner--something you would be proud to show during an interview or to an employer.

Prepare for Exams.

Class Format

Focus: Maximizing the course objectives.

Formats:

Lectures / DVD Presentations / In-class Exercises
Best Practices Case Discussions / Brandweek Applications / Guest Speakers
Hands-on Sessions with Brand Teams / Group Projects / Question & Answer Sessions
Exams / Individual Assignments / Goodies

ASSIGNMENTS

Individual

Attendance

Participation, including an office visit and a BRANDWEEK application

2 Case Papers

1 Mid-term Exam

1 Final Exam

Group

1 Brand Audit

1 Brand Audit Peer Evaluation

1 New Product Proposal Presented to Class

1 New Product Proposal Peer Evaluation

ASSIGNMENT REQUIREMENTS--INDIVIDUAL

Attendance=5%

8 unannounced, random attendance quizzes will occur during the semester.
There aren’t any excused absences, unless school sponsored events such as course field trips, NCAA events, or scholarly competitions demand it. BEFORE you are absent, submit exceptions to me in writing from the relevant University authority. Exceptions are only approved by me.
You have 1 missed attendance quiz to spare before it impacts your grade. Here’s how you will be graded:

# of Attendance quizzes missed (includes spare) / Grade % awarded
0-1 / 5%
2 / 3%
3 / 1%
4+ / 0%

You are responsible for everything covered or announced in class on that day whether you attend or not.

Participation=5%

Office visit=1%

A 20 minute office visit outside of class time will be required to share your resume and how you are positioning yourself to future employers. Sign-up sheets will be available during class. This must be completed prior to the Mid-term Exam date or you lose credit.

BRANDWEEK Application=1%

You will be required to choose an article from the latest edition of BRANDWEEK and present it to the class. Your presentation is 5 minutes. You need to summarize the article AND apply any 1 concept from class. You will be assigned a certain BRANDWEEK edition, section, and date for this presentation. There will be no re-schedules and you will lose credit for any unexcused absences.

Class Participation=3%

Active and positive contributions to class discussions, in-class exercises, or bringing in outside examples will be evaluated and converted to a final grade. Here’s how you will be evaluated:

Participation Level / Grade % awarded
Participates in nearly every class, 90-100%
(assumes consistent attendance) / 3%
Occasionally participates: 89-50% of classes / 2%
Rarely participates: Less than 50%-20% of classes / 1%
No participation: Less than 20% of classes / 0%

2 Case Papers=25%, 10% for first paper, 15% for second paper

You will be assigned 2 cases to analyze and evaluate based on questions posted to Blackboard.
Cases allow you to step into the role of a Brand Manager and think analytically and creatively. Therefore, any research or reference to what really happened after the case or today is not relevant to answering the questions. As such, a 20% penalty will be imposed.
Each paper should be no longer than 2 pages, single space, with no more than 2 exhibits.
You need to answer the questions by applying class concepts and analyzing the information from the content assigned on that class day. Therefore, you need to READ AHEAD to complete your case.
You will be expected to be a LEAD participant for the case in class (impacts participation grade).

2 Exams= 35%; 15% for Mid-Term, 20% for Final

The Mid-term exam will allow you to digest some of the course content prior to the Final Exam.

The Final exam is cumulative, but 70% of the exam will test content after the Mid-term.
A study guide will be given prior to each exam along with details on their format.
I provide all Blue Books and Scantrons for each exam. You need to bring #2 pencils and writing tools.
Notes, books, calculators, cell phones, PDAs or other aids are NOT allowed during exams. I am available during all exams to answer questions on non-marketing word translations and for clarification.
Any issues with exam scoring need to be discussed with me within 1 week of returning the exam score.

Exam Make-up Policy

Any make-up exam times must be approved and scheduled 2 days prior to the exam date.
If you have a last minute emergency, you will need to provide appropriate documentation or the 10% penalty will occur.
Make-up times that are not pre-approved will be penalized 10% and must be scheduled before the next class meeting.
A student will be considered taking a late exam if he/she begins the exam after the first student has completed an exam at the scheduled time.

ASSIGNMENT REQUIREMENTS--GROUP PROJECTS

The Brand Audit and New Product Proposal=30%

Students will form a Brand Management Team of 4-5 students (chosen by me) and select a “real world” brand.
NO brands may be duplicated between the 2 class sectionsand NO brands can be duplicated from last year’s classes (see attached list of off-limits brands). Each team will develop a first, second and third choice from their brand selection and brands will be “awarded” based on a random selection process between the 2 class sections (more details in class).
Brands must be existing brands (no fictional or yet to be launched brands allowed). No illegal products. Any alcohol or tobacco products require prior approval from me. No fantasy technology.
It is recommended that brands be publicly held and based on product or product/service combinations, and targeted to a consumer segment you have easy access to.

Peer Evaluations

Following the completion of both the Brand Audit and the New Product Proposal, each member of the Brand Management Team will be required to complete a peer evaluation assessing each member’s contributions. This will determine the portion of the team grade each member receives. For example, if the team scores 90% on a project, but 3 of the 5 students contributed at a level of 80%, then the 3 members would receive a team grade of 72% (80% of 90%). It is expected that all Peer Evaluations will be received ON TIME. If not, refer to the Meeting Deadlines policies under Expectations During Class section for applicable consequences.

The Brand Audit=10%

The Brand Audit is a project that will help you understand your brand from the consumer perspective and its sources of equity.

The parts of the project are:

Define your brand’s positioning in your product category based on a consumer segment. This will require you to conduct primary research within your consumer segment and develop a Perceptual Map of your brand and its competitors.
“Audit” the strength of your brand in terms of how it builds and manages its brand equity. Using the Customer Based Brand Equity Model, you will evaluate and outline its current sources of brand equity FROM your consumer segment’s perspective during your primary research. In conclusion, you will need to rate your brand’s equity on a scale of 1 (lowest) to 10 (highest).

Primary research must be conducted with a representative sample of your consumer segment and with a minimum of 25 consumers (preferably NOT marketing majors).
Your Brand Management Team needs to hand-in a hard copy of a PowerPoint presentation for Parts 1 and 2 of not more than 12 slides, including exhibits. All primary research must be documented, too.

The New Product Proposal=20%

The New Product Proposal allows your team to experience part of the New Product Development process.

The parts of the project are:

Defining your consumer segment’s needs, wants, and desires.
Identifying a Product Opportunity Gap (POG) based on Social, Economic, and Technology factors for your consumer segment. Additionally, the team needs to identify the Value Opportunities derived from the POG.
Brainstorming 3 potential New Product Concepts and Conducting Primary Consumer Research on them.
Developing and Presenting a Management Recommendation on which New Product Concept or revision of should be explored or not explored further AND how it fits or does not fit with your brand.
Primary research or rounds of primary research must be conducted with a representative sample of your consumer segment and with a minimum of 25 consumers (preferably NOT marketing majors).
More “how to” details will be given in class and are part of the required reading.
Your Brand Management Team needs to hand-in a hard copy of a PowerPoint presentation of their New Product Proposal in a maximum of 20 slides, including exhibits. All primary research must be documented, too.
Additionally, each Brand Management Team will present their New Product Proposal to the class on an assigned date. Maximum time slot is 25 minutes.
To ensure the presentation is dynamic, the audience will contribute to the grading process by completing an evaluation sheet for each team. This is 25% of your total grade, with the 2 highest and lowest evaluations dropped out. A copy of the evaluation sheet will be given during October’s New Product Proposal Overview class.

Grading and Student Deliverables

The Department of Marketing follows the grading policy of the Marshall School of Business. For this elective course, the grading standard is an average of 3.3 or a B+ average. Additionally, there are 3 other factors for final grades:

Your average weighted score as a percentage of the available points.
The overall average percentage score within the class.
Your ranking among students in the class.

Individual Total: / 70% / 700 Points
Mid-term Exam / 15% / 150 Points
Final Exam / Cumulative / 20% / 200 Points
2 Case Papers / 10% for first; 15% for second / 25% / 250 Points
Attendance / 5% / 50 Points
Participation / 1% each: Office Visit,Brandweek Application / 2% / 20 Points
In-class / 3% / 30 Points
Group Total: / 30% / 300 Points
The Brand Audit sub-total**: / Based on primary research: / 10% / 100 Points
Positioning statement, Perceptual Map / 5% / 50 Points
Brand Equity Sources and evaluation / 5% / 50 Points
New Product Proposal
sub-total**: / Based on primary research: / 20% / 200 Points
Defining the target market user’s needs, wants, desires / 5% / 50 Points
Identifying a Product Opportunity Gap based on SET and identify Value Opportunities / 5% / 50 Points
Brainstorming 3 Concepts, conducting consumer research on concepts and Final Recommendation / 5% / 50 Points
Class Evaluations for Final Presentation to the class / 5% / 50 Points
Course Total / 100% / 1000 Points

**Individual grades for both the Brand Audit and New Product Proposal will be impacted by the Peer evaluation process described on the previous page.

Pass/No Pass or AuditGrading Options

Due to the high demand for Marketing courses at this time, the grading options of Pass/No Pass or Audit are not available.

Extra Credit

There is no opportunity for extra credit.

Academic Accommodations for Students with Disabilities

Any student requesting academic accommodations based on a disability is required to register with Disability services and Programs (DSP) each semester. You need to obtain a letter of verification for any approved accommodations from DSP and deliver to me by Sept. 20th. DSP is located in STU 301 and is open 8:30-5:00 pm, M-F. Their phone number is 213-740-0776.

Extending deadlines for assignments is NOT a disability accommodation and will not be granted. Please note that it is the student’s responsibility to manage the scheduling process with DSP. Therefore, if you do not meet their office’s deadlines, there is a high likelihood you will not have special accommodations.

Course Advisory

Students need to be flexible and open to the learning process. Additional readings and/or assignments may be added at the discretion of the professor. Furthermore, unforeseen circumstances may arise which mandate changes in the content of the course.

Academic Integrity

Students are expected to adhere to the standards of academic integrity that govern students registered at USC. The use of unauthorized material, plagiarism, failure to cite relevant work, communication with fellow students during an examination, attempting to benefit from the work of another student, and similar behavior that defeats the intent of an examination or other class work is unacceptable to the University. Where a clear violation has occurred, the professor may disqualify the student’s work as unacceptable and assign a failing mark on the paper.