24223 Product Innovation Marketing
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 24108 Marketing Foundations OR 24109 Marketing and Customer Value
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
This subject provides future new product managers, project managers and team leaders with a comprehensive set of knowledge and skills to manage new product development processes including how to develop an effective development strategy, and generate and evaluate concepts. It offers a managerial focus, with an emphasis on understanding the issues and solving the problems by implementing a variety of state-of-the-art methods and perspectives, and integrates marketing, R&D, production engineering, and financial aspects of new product design and marketing.
Subject learning objectives (SLOs)
| 1. | contribute to the management of the new product development process |
|---|---|
| 2. | critically assess the appropriateness of different market research techniques in the context of new product management |
| 3. | apply practical frameworks and tools taught in class to help develop market ready products |
| 4. | use cooperative and teamwork skills in planning, management, leadership and peer support of a new product team |
| 5. | communicate effectively in an informal and formal manner, recommendations and findings to decision makers |
Contribution to the development of graduate attributes
This subject provides students with the necessary skills to successfully conceptualize and execute the process of bringing new products and services to the market. The subject develops skills linked to the Faculty's graduate attribute that looks at applying evidence, creative and critical thinking by performing an analysis of innovation opportunities, as well as developing and evaluating new offerings for a business. Students will be addressing these tasks by working in groups and conducting primary and secondary research, thereby enabling real-world experience. The group assessment will allow students’ to develop communication and collaboration skills and also requires them to reflect on the ethical implications of their proposed new offering.
Summarising, this subject contributes to the development of the following graduate attributes:
- Intellectual rigour and innovative problem solving
- Communication and collaboration
- Social responsibility and cultural awareness
- Professional and technical competence
Teaching and learning strategies
The subject is based on interactive lecture and tutorial sessions. Each week the three hour subject allocation will be made up of a one hour tutorial and a two hour lecture. Students are expected to attend both the allocated tutorial class and the lecture. The lectures are where theory is presented and the tutorials are built around in-class exercises, case discussions and presentations of group work designed to provide experience applying the theory. Active participation in the tutorials will be an integral part of learning new product theory, concepts and their application to real world examples. All of these activities will take place in an atmosphere of active discussion and debate.
The classes will be supplemented with both printed and electronic learning materials and resources. The UTS Learning Management System will be used to share information and encourage interaction between staff and students. Students are expected to review the assigned lecture readings as well as the tutorial slides before coming to the lectures and tutorials Students will also use appropriate computer software such as spreadsheets and word processors to complete assigned tasks. Students will be encouraged to undertake research, study the literature and monitor the media on subjects related to new product management. By creating a broader perspective on the topic, class debate and student learning should be made more effective than if it was confined only to text material.
All students will be provided with the opportunity for initial feedback on their performance in the subject during the first four weeks of the semester through tutorial exercises and in-class quizzes. Further feedback will be provided in relation to submitted assessment tasks. In addition, student groups will collaborate and engage in active learning tasks such as case study analysis, problem solving exercises and group discussions, to discuss their learning with their peers and they will receive constructive feedback on the assigned tasks.
Content (topics)
- Strategic planning for new products
- Concept generation, evaluation and testing
- Product design, evaluation and testing
- Product launch planning and management
Assessment
Assessment task 1: Mid-session exam (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1 and 3 |
|---|---|
| Weight: | 20% |
| Criteria: |
*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Group Report (Group)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 4 and 5 |
|---|---|
| Weight: | 25% |
| Length: | 1000 words equivalency (+/- 10%). Submissions will comprise of a Storyboard and a short written summary. |
| Criteria: |
|
Assessment task 3: Individual Report (Individual)
| Intent: | Draft Report 20% |
|---|---|
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 5 |
| Weight: | 55% |
| Length: | Word count equivalency: Draft Report: 1000 (+/- 10%) |
| Criteria: | Draft Report
Final Report
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Crawford, M., Di Benedetto, A. (2020). New Products Management. McGraw-Hill Education: New Zork, 12ed. ISBN 978-1-260-57508-8
It is expected that students prepare the tutorial content before attending the tutorials.
Other resources
Literature references
Students who are keen to further extend their knowledge of this area should also conduct their own original literature and media searches. Journals of particular focus are: Journal of Product Innovation Management; Journal of Marketing; Journal of Marketing Research; European Journal of Marketing; and The Journal of Brand Management.
Special Note: Richness of new thinking and research comes forth in the literature of journals and publications. Students wanting to achieve good grades in this subject must expect to spend considerable time researching, reading and integrating ideas into their own thinking and material from the textbook and lectures.