Innovation has been highlighted by CEOs in top companies as the most important contributor to long-term survival and success of an organisation. This module provides marketing students with specialist knowledge in how to best manage innovation process via which new product development activities can be optimised.
This module has two parts. The first part is innovation management which is strategic in nature and covers different types of innovation including but not limited to product innovation, service innovation, process innovation and business model innovation. The second part is new product development which is a key subset of innovation management. In this part both tangible and intangible products will be covered.
This specialist module will cover a wide spectrum of theories, concepts and techniques so that students choosing this optional module will be well-equipped to get involved in innovation management and new product development activities of the organisation they are working for after graduation.
Learning Outcomes
By the end of the module students should be able to:
Explain the five stages of innovation process and the characteristics, theories, concepts and techniques under each of these stages.
Explain the theories, concepts and techniques for new product development activities.
Apply established and newly emerging knowledge in innovation and new product development to inform strategic marketing decisions and the resulting management of the marketing resources mix.
Solve marketing-related innovation and new product development problems based on a wide variety of information sources and critical thinking.
