New Product Marketing

IDE Design Master Class for Professionals

Building balanced portfolios and marketing products successfully

New product development is an important but risky business activity. Recent research has shown that the majority of all new products launched fail in the marketplace. While a superb marketing strategy may not "save" a bad product, a poor launch strategy will surely kill a great product.

Curriculum


This Master Class addresses the success and failure factors in new product development (NPD) with a special focus on the role of marketing. The interactive blend of theory and practice introduces participants to NPD topics including product innovation, new product failure scenarios, best practices for launching new products, and provides hands-on experience on how to build a product and brand portfolio that is balanced and strategically aligned. The Master Class draws on case studies from recent innovative product introductions.

Learning Objectives

During this master class you will:

  • understand why some new products succeed while others fail;
  • benchmark your own NPD process with best practices from other firms;
  • critically reflect on marketing aspects like brand extensions, co-branding, pre-announcements, how to deal with new product rumours and many other;
  • understand how to use social media to market new products successfully.

Content

  • Market acceptance of individual new products.
  • Holistic perspective on a company's complete innovation portfolio.
  • Decision processes used to develop a balanced and strategically aligned NPD portfolio.

Speaker

Programme

9:00 Registration and welcome drinks
9:30 Session 1 - Setting the context for New Product Marketing
Introduction of lecturer and his background & experiences. Discussion of importance and risks of new product introductions. All new products are new but some products are newer than others. Minor versus major new products. Marketing challenges.
11:00 Break
11:30 Session 2 - Succes & Failure in Marketing New Products and the importance of an effective launch strategy
Discussion of success factors and failure scenarios in new product development. New product failures. What went wrong and who is to blame? The role of branding in new product innovation. Launch strategies and launch tactics. The role of rumors and social media.
13:00 Lunch
at the Faculty of Industrial Design Engineering
14:00 Session 3 - Introduction to Innovation Portfolio Management
Introduction. Case “Le Petit Chef”. Teams work on the case.
15:30 Break
16:00 Session 4 - Wrap-up Portfolio Management
Takeaways on new product marketing. A case study. Takeaways from case.
17:30 End of the first day
9:00Session 1 - Introduction to Co-creation
Different forms of co-creation. Which stakeholders to involve within the innovation process.
11:00Break
11:30Session 2 - Case on Co-creation
Key lessons learned on Co-creation. Takeaways on co-creation.
13:00Lunch
at the Porceleyne Fles
14:00Session 3 - Introduction to Portfolio Management
Introduction. Case “Le Petit Chef”. Discussion and takeaways from case.
15:30Break
16:00Session 4
Wrap-up Portfolio Management. Takeaways on new product marketing.
17:00Wrap up
17:30Drinks and closing

Practical Information


How to prepare?
One week before the course, you will receive a homework assignment to get prepared for the master class. Furthermore, it can be useful if you think of a case from your design practice to bring to the course.

Books and materials
At the end of the course, you will also receive literature on the relevant topic (book and/or reader). Handouts of the IDE Master Class will be provided with space for personal notes. All materials provided are included in the course fee.

After the course
Two months after the course a preset consultation timeslot will be offered to all participants to share experiences and consult the Master.