Course Title: Product Innovation and Management
Part A: Course Overview
Course Title: Product Innovation and Management
Credit Points: 12.00
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Course Coordinator: Professor Mike Reid
Course Coordinator Phone: +61 3 99251474
Course Coordinator Email: email@example.com
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
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
On the successful completion of this course you will be able to:
- Use appropriate theoretical frameworks and models to evaluate product innovation situations and develop options and recommendations for new product investments.
- Recognise the important relationship between marketing strategy choices and new product development decisions in an organisation and apply these in new product choices.
- 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
- Source and critically analyse information about the market environment to make product development decisions
- Apply tools to foster creative idea generation, concept formation and product launch strategies.
- 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: 30%
Linked CLOs: 1, 2, 4, 5, 6
Assessment Task 2: 50%
Linked CLOs:1, 2, 3, 5, 6
Assessment Task 3: 20%
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.