Selected Issues in Marketing I
Consumer Centric New Product Development
Despite all marketing and sales efforts the track record of "innovations" remains absolutely poor: 60-80% of all newly launched products e.g. are no longer on the retailers' shelves 12 months after being launched. For start-ups the failure rate even is supposed to be even higher.
Besides the economic fall-out, we observe increasing side-effects on corporate reputation. Fundamental questions around this fatal "logic of failure" are thus (a) why is this happening despite extensive marketing and sales efforts, and (b) what should be done upfront to bring down the percentage of flops to an acceptable level.
The course deals with both issues. It is based on more than 30 years of both academic and practical experience in launching new products. We will introduce and discuss a fundamental process model of proven workstreams which allow you to transform consumer insights into winning product concepts, pair it with a meaningful brand carrier, consistently orchestrate the relevant consumer touchpoints (prototyping) and make a volume/ prediction in the context of a business plan.
The sessions involve lectures, case studies, discussion groups, and a series of group exercises focusing on real-life business challenges. A thorough background of Marketing theory and experience with practical applications is required for this course.
Course language is English, including the discussions during the course sessions. Students must therefore have solid command of fluent business English. Participation is only useful for master students in higher semesters, basics cannot be explained.
The examination consists of two group presentations and one personal paper. Please keep in mind that you need to register for the examination within the corresponding registration period.