MKT350 Product Innovation Management (8)

Innovation is critical for organisations in an era of rapid and continual change. This subject focuses on innovation in goods and services and looks and the risks and returns associated with new product development. Organisation structure and practices that foster innovation are examined alongside a detailed focus on the activities in the new product development process that contribute to success.

Availability

Session 1 (30)
On Campus
Bathurst Campus
Online
Bathurst Campus

Continuing students should consult the SAL for current offering details: MKT350. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Management and Marketing

Assumed Knowledge
Assumed knowledge in this subject is equivalent to that covered in MKT110

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to articulate and reflect on the role of innovation in organisations and the challenges companies face in new product development;
  • be able to apply theoretical concepts of new product and new service development and critically evaluate implementation of these in a variety of contexts;
  • be able to make recommendations on the design, development and improvement of activities required to take a new product from an idea or opportunity through to a successful launch; and
  • be able to examine and critically evaluate current new product activities in the market.

Syllabus

This subject will cover the following topics:
  • The importance of innovation
  • Factors for success in new product development
  • The new product development process
  • Issues in new service development
  • Strategic planning for new products
  • Creativity and idea generation
  • Management evaluation of concepts and concept testing with consumers
  • Product and service design and product testing
  • Organising for innovation
  • Speed in delivering new products to market
  • Launching new products: planning, market testing, implementation and control
  • Product deletion

The information contained in the CSU Handbook was accurate at the date of publication: January 2020. The University reserves the right to vary the information at any time without notice.

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