Course Title: Product Innovation and Management

Part A: Course Overview

Course Title: Product Innovation and Management

Credit Points: 12.00

Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
MKTG1092	City Campus	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Sem 1 2006, Sem 1 2007, Sem 2 2007, Sem 1 2008, Sem 2 2008, Sem 1 2009, Sem 2 2009, Sem 1 2010, Sem 2 2010, Sem 1 2011, Sem 2 2011, Sem 1 2012, Sem 2 2012, Sem 1 2013, Sem 2 2013, Sem 1 2014, Sem 2 2014, Sem 1 2015, Sem 2 2015, Sem 1 2016, Sem 2 2016, Sem 1 2018, Sem 2 2018, Sem 1 2019, Sem 2 2019, Sem 1 2020, Sem 2 2020, Sem 1 2021, Sem 2 2021, Sem 1 2022, Sem 2 2022, Sem 1 2023, Sem 2 2023, Sem 1 2024
MKTG1270	Singapore Inst of Management	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Offsh 1 09, Offsh 1 10, Offsh 1 11, Offsh1 12, Offsh3 12, Offsh1 13, Offsh3 13, Offsh1 14, Offsh3 14, Offsh1 15, Offsh3 15, Offsh1 16, Offsh3 16, Offsh3 18, Offsh1 19, Offsh3 19, Offsh1 20, Offsh3 20, Offsh1 21, Offsh3 21, Offsh1 22, Offsh3 22, Offsh1 23, Offsh3 23, Offsh1 24
MKTG1322	RMIT University Vietnam	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Viet3 2012, Viet1 2013, Viet2 2013, Viet3 2013, Viet1 2014, Viet2 2014, Viet3 2014, Viet2 2015, Viet1 2016

Flexible Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
MKTG1092	City Campus	Undergraduate	625H Economics, Finance and Marketing	Internet	JanJun2024 (All)

Course Coordinator: Professor Mike Reid

Course Coordinator Phone: +61 3 99251474

Course Coordinator Email: mike.reid@rmit.edu.au

Course Coordinator Location: Building 80, Level 11, Room 97

Course Coordinator Availability: By appointment via email

Pre-requisite Courses and Assumed Knowledge and Capabilities

Required Prior Study
008953 - Marketing Principles
008963 - Buyer Behaviour
008961 - Market Research
008956 - Marketing Communication
008964 - Service Quality
 

Course Description

The development of new products, including goods and services includes significant risk. This course draws on industry experiences and academic research to give you a balanced view of theory versus practice in the management and successful commercialisation of new products. The course highlights the importance of product innovation, especially for companies wanting to regain and retain competitive advantage within their industry. The new product development process will be covered with reference to past new product successes and failures. The course also considers the planning, development and implementation of new products within the context of a competitive and dynamic marketing environment, the fast pace of technology development, the convergence of industries and the increasing sophistication of the consumer. The course aims to instil a passion for innovative products whilst providing skills to examine the likely market success of these products.

This course includes a Work Integrated Learning (WIL) experience in which your knowledge and skills will be applied and assessed in a real or simulated workplace context and where feedback from industry and/or community is integral to your experience.

Objectives/Learning Outcomes/Capability Development

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On the successful completion of this course you will be able to:

1. Use appropriate theoretical frameworks and models to evaluate product innovation situations and develop options and recommendations for new product investments.
2. Recognise the important relationship between marketing strategy choices and new product development decisions in an organisation and apply these in new product choices.
3. Understand the role of the marketer in developing new product development strategy and the ways in which they motivate others in the organisation to contribute to the process
4. Source and critically analyse information about the market environment to make product development decisions
5. Apply tools to foster creative idea generation, concept formation and product launch strategies.
6. Analyse and evaluate the strengths and weaknesses of the new product development process in an organizational context to improve its effectiveness and efficiency.

Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.

Overview of Learning Resources

Various learning resources are available online through myRMIT/Canvas. These may include topic notes and slides, a study schedule, assessment details, links to relevant internet information, readings and communication tools to facilitate collaboration with your peers and sharing of information.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period.

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 20%
Linked CLOs: 1, 2, 4, 5, 6   Assessment Task 2: 30%
Linked CLOs:1, 2, 3, 5, 6   Assessment Task 3: 50%
Linked CLOs: 2, 3, 6
Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.