New Product Marketing

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.

Date
20-21 November 2019
Group size
10-16 participants
Location
Industrial Design Engineering,
TU Delft
Deadline
11 November 2019

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

Erik Jan Hultink

Erik Jan Hultink is full Professor of New Marketing at IDE, TU Delft. As one of the World’s Top Innovation Management Scholars, he is internationally respected for his work on launch and branding strategies for new products.

Roland van der Vorst

Roland van der Vorst is full Professor of Strategic Design for Brand Development at IDE, TU Delft. He is Managing Director of Freedomlab in Amsterdam.

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

9:00	Session 1 - Introduction to Co-creation Different forms of co-creation. Which stakeholders to involve within the innovation process.
11:00	Break
11:30	Session 2 - Case on Co-creation Key lessons learned on Co-creation. Takeaways on co-creation.
13:00	Lunch at the Porceleyne Fles
14:00	Session 3 - Introduction to Portfolio Management Introduction. Case “Le Petit Chef”. Discussion and takeaways from case.
15:30	Break
16:00	Session 4 Wrap-up Portfolio Management. Takeaways on new product marketing.
17:00	Wrap up
17:30	Drinks 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.

Costs Master Class

€ 950	standard
€ 850	for members of BNO, KIVI IO, HumanFactorsNL
€ 750	for IDE alumni

Courses are VAT-free
Lunch, drinks, material and book are included

Reduction

€ 100	for each additional Master Class per organisation in 2024
€ 100	if you register before the 15th of September 2024