Executive Education

New Product Innovation,

Development, and
Implementation Strategies
Learn to create or modify your organization’s new product development
process and position your firm for a strategic competitive advantage.

September 26–30, 2011

May 21–25, 2012
New Product Innovation, Development,
and Implementation Strategies
This unique program will provide you with the frameworks, tools, techniques, and perspectives that
will help you to more effectively develop and market new products. The course provides comprehensive
coverage of major topics in developing and implementing a market-driven approach to innovation.
Incorporating cutting-edge thinking and best practices in new product development, this program will
help you to both create and modify your organization’s new product development process and position
your firm to gain a strategic competitive advantage. It covers a wide spectrum of industries including
business-to-business, consumer products, and services.

For More Information Contact:

During this program you will learn: Executive Education
n How to develop an innovation strategy. The University of Chicago
n Best practices in new product development that separate Booth School of Business
the “best” firms from the “rest” in different industries. 450 N. Cityfront Plaza Drive, Suite 514
n Results from a “first-of-the-kind” benchmarking study for Chicago, IL 60611-4316
marketing research practices to build voice of the customer.
chicagoexec.net
n How to develop a new product development process that
incorporates the best practices and is based on cutting-edge Angela Tong
frameworks and approaches. Associate Director of Executive Education
n How to adapt the new product development process for: Tel 312.464.8732
Fax 312.464.8731
– different types of projects: lower risk short-term versus angela.tong@ChicagoBooth.edu
breakthrough projects, in-house versus outsourced
projects, platform projects.
– different strategic decision situations: speed to market
versus extensive development, proactive versus reactive
strategies.
– building flexibility into the process.
n How to implement the new product development process.
n How to create new market space by identifying a new value
curve that better meets customer needs.
n How to identify new product opportunities using both
“resource-based” and “market-based” approaches.
n How to uncover “breakthrough” consumer needs and develop
and test new product concepts that serve those needs.
n How to apply leading-edge voice of the customer techniques.
Sanjay K. Dhar
n How to create a value proposition for your new product and
develop a positioning strategy.
n How to use latest tools and techniques that will help you
to design new product offerings that deliver customer value
Topics cover four broad areas:
through differentiating benefits. n The strategic role of new products in your
n How to use tools such as conjoint analysis for new product organization
design, sales forecasting and pricing, and perceptual n Reviewing best practices in new product
mapping for identifying unique value-propositions and development across various industries
developing positioning strategy.
n Incorporating best practices and cutting-edge
n How to develop sales forecasts for your new products frameworks to develop a market-driven new
and services. product development process
n How to develop a launch plan. n Implementing the new product development
process using a customer-driven phased
approach
Who Should Attend
This course is appropriate for mid- to upper-level
managers in any area involved in the development
and management of new products. This may include
functional areas such as new product development,
marketing, research and development, business develop-
ment, design, engineering, operations, sales, strategy,
and finance, as well as members of cross-functional
new product development teams. Representative titles
include vice president or director of marketing, new
product manager, product or brand manager, business
development manager, strategic planner, designer,
engineer, market analyst, vice president or director
of sales, and vice president or director of engineering/
research and development.
Program Dates and Fees
 #11C58002 Sept. 26–30, 2011 ($7,950)
 #12C58001 May 21–25, 2012 ($7,950)
This course begins at 8:30 a.m. on
Monday and ends at 1:30 p.m. on Friday.
The program fee includes tuition, lunches, coffee breaks,
and all educational materials. The fee is subject to change
and payable in advance upon confirmation of registration.
Chicago Booth reserves the right to cancel any program.
The Setting
Classes are held at the University of Chicago Booth School
of Business’ Gleacher Center, 450 North Cityfront Plaza Drive,
situated along the Chicago River (one block east of Michigan
Avenue) in the heart of the downtown area known as “The
Magnificent Mile.” Gleacher Center is within walking distance
of some of Chicago’s most exciting retail and entertainment
areas. Gleacher Center, which also houses Chicago’s top-ranked
Executive MBA, Evening MBA, and Weekend MBA Programs,
provides state-of-the-art classrooms that complement the
exceptional quality of the program’s content and faculty.
Accommodations
The University of Chicago Booth School of Business has
reserved a limited block of rooms at the InterContinental Chicago
hotel. Single or double rooms are available at a discounted
rate. Contact the InterContinental Reservations Department
by telephone at 312.944.4100 or by fax at 312.321.8725.
Participants must contact the hotel directly to reserve
accommodations. Three weeks prior to the program’s start
date, or once the block is filled, the hotel cannot guarantee
accommodations. Participants should identify themselves as
registrants in New Product Innovation, Development, and
Implementation Strategies at the University of Chicago Booth
School of Business.
About Chicago Booth
A University Steeped in Excellence
The University of Chicago has a long history steeped
in a tradition of academic excellence and innovation.
That commitment to discovery has translated into
enduring contributions to the world. Among its
faculty, researchers, students, and graduates are 85
Nobel laureates. Current faculty include eight Nobel
prize winners, 13 MacArthur Fellows (commonly
known as a “genius grant”), and three Pulitzer Prize
winners, among countless others.
A Leader in Business Education
The University of Chicago Booth School of Business,
founded in 1898, has been a leader and innovator
in the field of business research and education. It
was the first business school in the country to offer a
PhD program, the first to publish a scholarly business
journal, the first to offer an executive MBA program
for experienced managers, the first to have a Nobel
laureate on its faculty, and the first to have six Nobel
Prize winners on its faculty. Chicago’s close ties with
many of today’s business leaders and its grounding
in the real world have helped Chicago Booth maintain
its reputation as one of the world’s leading centers of
business education and research. With its reputation,
commitment to academic research, and high quality
faculty, Chicago Booth carries a prestige that few
can match.
Collaborate and study at a top ranked,
world-renowned global business school
n BusinessWeek ranked Chicago’s Full-Time MBA
Program first in its biennial rankings (2010), while
the Executive MBA was ranked second (2009).
n The Economist ranked Chicago’s Full-Time MBA
Program first globally (2010).
n U.S. News & World Report (2011) rated Chicago
Booth fifth overall of full-time programs, first among
part-time MBA programs, and second among
executive MBA programs.
n Financial Times ranked Chicago’s Executive MBA
Program fifth (2010).
We are more than a business school.
We are a business force.
Unparalleled IDEAS THAT PEOPLE WHO CREATE
Intellectual FUNDAMENTALLY LASTING VALUE
curiosity, honesty, SHAPE MARKETS
exchange, and rigor AND BUSINESSES
Program Outline
New Product Development and
Strategic Marketing
n Strategic analysis of company, customer, and competitor
n Product, price, distribution, and promotion strategy
n Key decisions in marketing mix based on marketing
objectives
Developing a New Products System
n Barriers to effective new product development
n Components of an effective innovation system
n 7P New Product Development System: priority, policy,
platforms, problem orientation, process, platoons,
payback metrics
Develop an Innovation Strategy
n Developing a new product strategy: growth gap, strategic
arenas, spending splits, screening criteria
n Strategic goals
n Product portfolio management
n Firm innovativeness
New Product Development
Best Practices
n Results from a “first-of-the-kind” benchmarking study
on marketing research practices to build voice of
the customer
n Characteristics of “The Best” versus “The Rest” innovators
across all industries on new product/service performance
n Three cornerstones of new product success
n Top reasons for new product failures
n Effects of success factors on new product performance
metrics
n Frameworks and tools to prioritize marketing activities
Identifying “Breakthrough”
Customer Needs
n Resource-based approach: linking
strategic vision to core capabilities
n Market-based approach: market profile analysis
n Identifying competitors:
– level of competition: product form, product category,
generic, or budget
– methods to identify close competitors
– determining the basis of competition
n Techniques for uncovering articulated and unarticulated
customer needs
Product Development Using
Consumer-based Methods
n Relating consumer/customer needs to design features
– conjoint analysis applications
– data collection methods and analysis
n Assessing customer trade-offs
n Predicting market share changes:
– when new product is introduced
– when competitors make changes in product and
service offerings
– cannibalization versus incremental sales when line
or brand extensions are introduced
n Benefit segmentation of the market
n Making key design decisions
Implementing the New Product Development
Process Using a Customer-Driven Approach
n Clustering development activities into phases
n Determining deliverables from each phase
n Roles of decision points: project review and decision points
n Screening criteria and screening approaches at a
decision point
n Templates for deliverables and examples of screening criteria
n Marketing research techniques to build “voice-of-the-
customer” in the development process
n Management decisions at a decision point: go/kill decisions,
prioritization of projects, resource allocation
Sales Forecasting: Methods for New Product
Development
n Types of models to use at different phases of the new
product development process
n Market potential models for overall sizing of the opportunity
n Sales formation models to predict sales build-up over time
n Types of models for different products and services
n Steps to logically forecast sales
n Test sensitivity of forecast
Developing a New Product
Marketing Launch Plan
n Launch decision framework
n Use of diagnostics
n Determining which segments to target and why
n Product positioning: value proposition
n Sales forecasting and pricing decision frameworks
n Communications strategy
n Distribution strategy
Course Summary and Wrap-Up
Comments from Past Participants

“ This was a great course—very well structured, well taught,
and applicable to my current role.”
Rebecca Ingis, Marketing Manager, Quaker Oats

“ Outstanding instructors! A very useful program. A nice

mix of theory and application. Time well spent. More
comprehensive than I expected. I can’t wait to apply what
I have learned!”
Carol Rossman, Group Product Manager, U.S. Bank

“ Absolutely targeted and relevant to my current position and

career. Most importantly, curriculum of course (depth and
breadth) delivered by experts in product development field.”
Grace Toncich, Director, Business Assessment, Comcast

“ Every single person was completely dedicated to me getting

the most out of this program and having it add practical
value when I returned to my company. I was not left with
a feeling of ‘How can I make this work for me?’ but rather,
‘I can’t wait to get started!’”
Melissa Hall, Director, Service and Product Innovation,
Wellpoint Health Networks (Blue Cross of California)

“ This, by far, has been the most comprehensive marketing

program since my MBA curriculum. I would recommend
this to all of my colleagues.”
David Minning, Director of Marketing and Program
Development, Hill-Rom Company

“ This course did an excellent job of providing the most current

academic information together with practical tools and tech-
Gleacher Center is part of the University of Chicago Booth School
niques that can be implemented at any organization looking of Business. Overlooking the Chicago River, its state-of-the-art
to introduce new products or services to their markets.” classrooms are only steps away from Chicago’s “Magnificent Mile.”
John R. Gilmartin, Mitchell International, VP Product Delivery

Learning, Reflection, Custom Executive

and Action (LRA)
Transform knowledge gained at Chicago Booth
into results for you and your company.
Chicago Booth’s programs provide a web tool
that’s easy to use, intuitive, and encourages
you to:
n articulate your goals,
n specify implementation plans, and
n track your progress toward meeting
these goals.
Extend learning beyond the classroom and turn
your learning goals into concrete results.
Education Programs
Chicago Booth creates custom executive
education programs that capitalize on the
“Chicago Approach,” which is the very best
disciplined approach to conceptual knowledge
and academic theory with practical, real world
application delivered by faculty of one of
the world’s top business schools. These
components of Chicago’s programs are all
keys to driving your corporate competitive
advantage through effective human capital
investments. Through deep thinking and high
impact results, Chicago Booth writes the rules
that business follows. Partnering with us today
will drive your business success tomorrow!
Outstanding Booth Faculty
The University of Chicago Booth School of Business has one of the most highly regarded
faculty of any business school in the world and the most productive researchers in the country.
Rigorous, interactive, and dynamic, they present topics in a variety of ways, including lectures, case studies, and small
group discussions, using a range of media. Accomplished teachers and active consultants, this program’s faculty offer
a blend of academic excellence, rigorous scholarship, real-world relevance, and practical application that provide
participants with unparalleled opportunities to expand their horizons.

Learn from top faculty withArthur

Sanjay K. Dhar real-world experience.
G. Middlebrooks
Faculty Director of the Kilts Center of Marketing
and James H. Lorie Professor of Marketing
The University of Chicago Booth School of Business
Sanjay Dhar has been a Chicago faculty member since
1992. Many sources have recognized Professor Dhar for his
excellence in teaching. He received the 2008 Hillel Einhorn
Teaching Award voted by executive MBA students in Asia, was
honored in 2000 with the prestigious McKinsey Teaching Award
which is awarded once every two years, was cited among the
outstanding faculty in Business Week's Guide to Best Business
Schools (McGraw-Hill, 1997, 1999, and 2001), and in 1994
was awarded the Emory Williams Teaching Award by students
for outstanding teaching performance. In 2006, the Economic
Times (India) identified Professor Dhar as one of 12 “Indians
who have made a global impact on marketing research and
thought.” He currently serves as faculty director of the Kilts
Center of Marketing and was recently rated as one of six
“must-have” professors at Chicago Booth by Veritas Prep in
2010 Annual Report on Chicago Booth.
Dr. Dhar’s research and teaching focuses on advertising
strategy; brand management; marketing strategy; pricing
and promotion strategy; private labels; consumer promotion
evaluation and planning; internet marketing; new product
development, management and strategy; retail management
best practices, loyalty reward programs, every day low pricing
(EDLP); trade promotions; category management; purchase
incidence; and brand choice. He has published widely in
leading academic journals and is also on the editorial board
of several top journals in marketing.
Dr. Dhar is considered a leading expert in marketing and is
regularly interviewed by leading newspapers, news agencies,
and business magazines and has been interviewed by
major television programs. He is frequently invited as a keynote
or featured speaker in company management conferences,
major industry association meetings, and has also conducted
research studies sponsored by major firms and trade associa-
tions. He has also provided consulting to, and conducted
training sessions with, FORTUNE 100 companies and has
served as an expert witness.
He earned his doctoral degree in management from the
University of California at Los Angeles in 1992. Prior to that,
he served in several management positions at Lipton India Ltd.
In Executive Education, Professor Dhar is the academic director
of New Product Innovation, Development, and Implementation
Strategies and Pricing: Strategy and Tactics, and also teaches in
Strategic Marketing Management and the Chicago Management
Institute.
Adjunct Professor of Marketing
The University of Chicago Booth School of Business
Art Middlebrooks specializes in helping service companies
grow profitably through new product and service development,
branding, and effective marketing strategies. He has worked with
companies from a broad range of industries including energy,
telecommunications, information technology services, e-com-
merce, software, financial services, and professional services.
Mr. Middlebrooks’ areas of expertise focus on branding (includ-
ing segmenting and targeting markets, creating a brand vision
and strategy, developing a competitive positioning, determining
brand/sub-brand strategies, creating marketing and communica-
tion plans) and innovation (developing a new products strategy,
conducting customer research, generating and screening ideas,
developing and testing new product concepts, creating finan-
cial business cases, creating product requirements, creating
marketing launch plans, establishing new product development
processes and portfolio management processes).
Mr. Middlebrooks was recently named the executive director of
the Kilts Center for Marketing at the University of Chicago Booth
School of Business. The Center, which sponsors a wide variety of
basic and applied research in marketing, was founded in 1999
by James M. Kilts and the Nabisco Foundation.
He is co-author of two books, “Innovating the Corporation” (NTC
Business Press, 2000) and “Market Leadership Strategies for
Service Companies” (NTC Business Press and American Market-
ing Association, 1999). In addition, he has spoken at numerous
conferences and seminars, including the Product Development
Management Association (PDMA), Institute of International
Research (IIR), Marketing Information Group, and Electric Utility
Consultants. He has published other works in the PDMA Hand-
book of New Product Development, Management Review, Sales
and Marketing Management, and Marketing News.
His clients include Amadeus, American Medical Association,
Andersen Windows, Bank of America, BP/Amoco, ComEd,
General Mills, Hewitt Associates, IBM Consulting Group, Praxair,
S.C. Johnson Wax, Standard & Poors, and U.S. Gypsum.
Mr. Middlebrooks received a BS in economics and computer
science from Duke University and has an MBA in marketing and
finance from the University of Chicago Booth School of Business.
In Executive Education, Mr. Middlebrooks teaches in New
Product Innovation, Development, and Implementation Strategies.
 8&#QEG
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Register Today!
How to Mail Chicago Booth Executive Education
450 N Cityfront Plaza Drive, Suite 514
Call 312.464.8732
Fax 312.464.8731
Register online at
www.chicagoexec.net
register. Chicago, Illinois 60611-4316

YES, I will attend the New Product Innovation, Development, Please print clearly or type on line above:
and Implementation Strategies program.
h #11C58002 September 26 –30, 2011 $7,950 Name: h Mr. h Ms. h Dr.
h #12C58001 May 21–25, 2012 $7,950
Fee includes tuition, books and instructional materials, lunches, and coffee breaks. Name desired on name tag
Fee is subject to change and payable in advance.
Title
NO, I am unable to attend.
h Please provide information regarding future sessions of the program.
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CVV code (3-digit code on back of card) Exp. date h General Management h Operations/Production h Administration
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h Human Resources h Marketing/Sales h Other ___________________
Signature

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Industry Classification:
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h Aerospace h Computer h Energy h Mining h Retail h Textiles ________________________________
h Automotive h Consumer Products h Financial h Nonprofit h Service h Transportation ________________________________
h Bank h Education h Government h Pharmaceutical h Steel h Utilities ________________________________

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Program fee is payable upon notice of acceptance. The following must be dated and signed in order to validate application.

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Program cancellation – Chicago Booth reserves the right to cancel
any program.
Cancellations and transfers are accepted without charge if written
notification is received at least 30 days prior to the program’s starting
date. Cancellations received after that time will be charged 25 percent
of the total program fee.
Transfer requests received within 30 days of the program start will be Substitutions of registrants in a session may be made, without
subject to a $200 transfer fee to cover administrative costs. Any late penalty, any time prior to the program’s commencement.
transfers followed by a cancellation will be charged 25 percent of the
Photo rights – The University of Chicago reserves the right to use
program fee. Transferees will have a period of one year from the date
photos taken during program activities for promotional purposes.
of their transfer to attend a subsequent program offering. After a one-
year period, tuition fees will be forfeited. Transferees will be required
to pay fee increases, should any take place.
 New Product Innovation, Development,
and Implementation Strategies
September 26–30, 2011
May 21–25, 2012

 Cutting-edge content
 World-class faculty
 State-of-the-art facilities
“ This is definitely the best course on the subject area
I have ever attended. If you can’t take home a host
of actual, hands-on tools from this, you never will.”
Bob Pemrenke, Innovation Liason, Smith & Nephew

New products often account for 30 percent of a company’s sales, yet

60 percent of new products fail. Learn how to increase your company’s
success rate with this unique and comprehensive approach to a new
product development system.

We are more than a business school. We are a business force.

For More Information Contact:

Executive Education
The University of Chicago
Booth School of Business
Register today and learn 450 N. Cityfront Plaza Drive, Suite 514
how to ensure your new Chicago, IL 60611-4316
chicagoexec.net
product’s success. Angela Tong
Associate Director of Executive Education
Tel 312.464.8732
Fax 312.464.8731
angela.tong@ChicagoBooth.edu

chicagoexec.net