Marketing and New Product Development
Edition: 1
Copyright: 2022
Pages: 276
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Marketing and New Product Development targets underserved undergraduate business students with the goal of helping them understand and apply an approach, not necessarily the approach, to developing new products, but more importantly identifying how product marketers play a critical role throughout the process. This book may be helpful to those professionals that started in non-marketing functions but now find themselves in product marketing roles.
INTRODUCTION:
Learning Objectives and Key Terms
Marketing and New Product Development – The Course
Product Marketing’s Role in New Product Development
Making the Case for Developing New Products
A Process for Developing New Products
Succeeding and Failing at New Product Development
Introduction - Learning Exercise
Image Credits and Notes
LEARNING MODULE 1:
Learning Objectives and Key Terms
Company and Product Centric Strategies and Objectives
Internal (to company) Business Analysis
Team Application 1 – Company/Product Centric Strategies and Objectives
Customer Value Driven Strategies – Market Segmentation
Mapping the Hierarchy of a Product Portfolio
Team Application 2 – Mapping Product Portfolio
Learning Module 1 – Practice Exam
Image Credits and Notes
LEARNING MODULE 2:
Learning Objectives and Key Terms
Developing Competitive Intelligence
Conducting Competitor Analysis
Team Application 3 – Competitor Product GAP Analysis
Product Marketing Data and Analysis
External (to company) New Product Drivers, Data & Analysis
Team Application 4 – Product Centric External Drivers
Learning Module 2 – Practice Exam
Image Credits and Notes
LEARNING MODULE 3:
Learning Objectives and Key Terms
Identifying and Understanding Customer Needs
Team Application 5: Understanding Customer Needs
Customer Value-Driven Strategies: Differentiation
Customer Value-Driven Strategies: Positioning
Developing Opportunity, Idea and Stated Concepts
Team Application 6: Opportunity, Idea, and Stated Concepts
Learning Module 3: Practice Exam
Image Credits and Notes
LEARNING MODULE 4:
Learning Objectives and Key Terms
Finalize, Forecast, and Justify/Prioritize Stated Concepts
Developing the Product Protocol Agreement (PPA)
Team RCBC Assignment: Rough-Cut Business Case (RCBC)
New Product Concept and Use Testing
The Product Development Pipeline
Image Credits and Notes
LEARNING MODULE 5:
Learning Objectives and Key Terms
Launching a New Product
Identifying Strategic Platform Decisions
Identifying Strategic Action Decisions
Developing Copy Strategy Statements
Identifying Tactical Launch Decisions
Developing the New Product Launch Plan (NPLP)
Team NPLP Assignment: New Product Launch Plan (NPLP)
Image Credits and Notes
David Hanning has developed and taught marketing courses for Auburn University’s Raymond J. Harbert College of Business for nearly ten years. In addition to his Marketing and New Product Development course, David also teaches Business-to-Business Marketing and Principles of Marketing as a full-time lecturer for the department of marketing.
Hanning brings over 30 years of experience in the durable goods industry, with in-depth practitioner and management experience across multiple cross-functional disciplines. David’s last significant industry position was director of North American new product development for Rheem Manufacturing Company’s industry-leading water heating division, from 2008 through 2013. During his tenure in this role, Rheem development teams delivered more than $165 million worth of new products to the water heating division while developing and implementing plans that set the stage for rapid sales growth beginning in 2015, following the implementation of new federal efficiency improvement standards.
Following graduation from Auburn University in 1985, with an undergraduate degree in mechanical engineering, Hanning began his career as a new product development, project engineer with Trane Company’s transport division. A move within the same industrial park in 1988 landed him with Rheem Manufacturing, beginning a 27-year career with their water heating division. David’s initial roles within the Rheem organization included manufacturing, research and development, project engineering, and management. In 1992, David developed and introduced the first team-based, cross-functional new product develop process for the Rheem water heating division, and later that year earned a Master of Manufacturing Systems Engineering degree from Auburn University.
It was in 1994, however, when Hanning moved to the product marketing team, that led to 14 years in product management, marketing management, and business management roles. His years in research and development, along with subsequent time in product marketing, influenced and shaped much of David’s market-driven, data-based approach to new product development. This successful approach and the recognition for a strong product marketing function is the foundation for his Marketing and New Product Development course.
Hanning spent the final seven years with Rheem in director-level product marketing, North American new product development, and commercial business market roles. Over his 27 years with Rheem, David’s new product development experience crossed multiple functional areas and eventually every product line within the company’s North American offering. It is not a stretch to say that even today, his DNA still resides in most of the current Rheem water heating product portfolio.
In 2012, Hanning received New Product Development Professional (NPDP) certification from the Product Development Management Association (PDMA) and has seven design patents to his credit.