Course Title: Product Innovation
Part A: Course Overview
Course Title: Product Innovation
Credit Points: 12
625H Economics, Finance and Marketing
|Sem 2 2011,
Sem 2 2012,
Sem 2 2013,
Sem 2 2014,
Sem 2 2015,
Sem 2 2016
Course Coordinator: Associate Professor Mike Reid
Course Coordinator Phone: +61 3 99251474
Course Coordinator Email: email@example.com
Course Coordinator Location: 80.11.97
Course Coordinator Availability: Please check with course coordinator
Pre-requisite Courses and Assumed Knowledge and Capabilities
Required Prior Study
008994 – Marketing Management
008995 – Consumer Behaviour
008996 – Marketing Communication Strategy
008997 – Marketing Research
This course provides a comprehensive understanding of product management including, but not limited to, new product development, service innovation, user-interface design, managing the product portfolio, product-line extensions, understanding buyer’s reactions to innovations, and creating an innovative culture. This course will provide you with a basis to improve new product launch rates across different industry contexts, including business-to-consumer and business-to-business, “product” contexts and global contexts.
Objectives/Learning Outcomes/Capability Development
On successful completion of this course you will be able to:
- Use appropriate theoretical frameworks and models to evaluate product innovation situations and develop strategies and tactics.
- Evaluate the important relationship between marketing strategy choices and new product development decisions within an organisational context.
- Critique the role of the marketer in fostering new product development and the ways in which they motivate others in the organisation to contribute to the process.
- Source and critically analyse information about the market environment and consumers and use it to inform product development decisions and strategy.
- Apply creative processes that foster idea generation, concept formation and product launch strategies.
- Apply analytical techniques in assessing the strengths and weaknesses of the new product development process in an organization context.
Overview of Learning Activities
You will have the opportunity to discuss up-to-date theory and practise in a seminar / workshop format. The course is run over a series of five concentrated weekend days.
The intent of this course is interactive and challenging. Formal presentations by the Lecturer will ordinarily be used only to stimulate discussion, not to summarise the reading material. The format of the course is student centric and has been designed to encourage interaction, discussion and self-directed learning. The expectation is that you will come to class prepared to discuss the prescribed reading and case material. To be successful in the course you must participate in each seminar session.
Overview of Learning Resources
Various learning resources are available online through MyRMIT Studies\Blackboard. 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. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.
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. Such resources include: Product Development Management Association (PDMA) resources, Practitioner and theory related journal articles on the management of product innovations and consulting reports and papers on practices associated with product innovation.
Overview of Assessment
The assessment alignment list below shows the assessment tasks against the learning outcomes they develop.
Assessment Task 1: 20%
Linked CLOs: 2, 3, 6
Assessment Task 2: 30%
Linked CLOs: 1, 2, 4, 5, 6
Assessment Task 3: 50%
Linked CLOs: 2, 4, 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.