Professor Douglas Stayman is an associate professor at the Johnson Graduate School of Management. His teaching and research interests are in the areas of advertising and consumer decision making. He came to Johnson from the University of Texas at Austin. His research has focused on the study of emotional responses to advertising and the role of affect in decision making. His work has involved methodological and measurement issues in studying emotions. He is also interested in theoretical accounts of the effects of emotions on people’s preferences. His research has been supported by grants from the Ogilvy Center for Research and Development, the Marketing Science Institute, and the American Academy of Advertising. He is currently involved in research into the future of professional, most specifically management, education.
You begin this course by considering the importance of new products and services to the overall health of a firm, and you look at some of the risks these products entail. Why do so many otherwise good products fail to achieve broad market diffusion? You analyze the significance of product characteristics such as complexity and communicability on customers' decisions to adopt new products. Then you consider innovations in terms of a continuum.
In the second part of the course, you look at new products through the lens of the product diffusion process. This process shows how different customer segments enter the market at different times and why. Finally, you learn how the diffusion process is related to the overall product life cycle.
You are required to have completed the following course or have equivalent experience before taking this course:
- Essentials of Marketing Strategy
Key Course Takeaways
- Evaluate why new products or services that you are familiar with have failed
- Explore how the innovation continuum can help you develop an effective marketing program for new product or service
- Examine your customer base and consider how to adjust your strategy for each segment of that base
- Develop an action plan to encourage the early majority to adopt your new product or service
How It Works
Who Should Enroll
- Marketing managers
- Project and product managers
- Anyone responsible for producing or executing a marketing plan
- Non-marketing professionals and business leaders looking to develop marketing strategy