New Product & Innovation Management (MSB106)

Innovation constitutes the core competence for firms. At the same time, the ultimate success of a new offering, whether a product or service, is fraught with uncertainties. For example, 30,000 new consumer products are launched every year and 95% of them fail. Thus, innovation and marketing of new products, services, and processes is one of the most critical challenges and daunting tasks faced by any firm. This course covers different stages of the new product development and marketing process, from opportunity identification to launch, and making strategic decisions on various activities essential to managing new products.


Course description for study year 2023-2024. Please note that changes may occur.

Facts

Course code

MSB106

Version

1

Credits (ECTS)

10

Semester tution start

Spring

Number of semesters

1

Exam semester

Spring

Language of instruction

English

Content

Students will have the opportunities to

(1) learn and apply important concepts and theories in managing new products and innovation:

  • Innovation Generation and New Product Development
  • Launching and Positioning Innovations in the Marketplace
  • Adoption and Diffusion of New Offerings

(2) make strategic marketing decisions on critical activities of innovation management in a simulated environment

(3) analyze the market opportunities and strategic mistakes in new product development.

As such, the course illustrates recent developments in innovation and marketing and showcases the opportunities to involve consumers in the process (eg, co-creation, crowdsourcing).

Learning outcome

Knowledge

On completion of this course, students will have knowledge of:

  • Innovation idea generation, the selection in firms and the possibilities of involving consumers (eg, co-creation, crowdsourcing) in these processes;
  • Innovation introduction and take-off;
  • Diffusion of new products or services to consumers;
  • Innovation pioneering and entering existing markets with innovations;
  • Quantitative tools to study new products and services and new markets.

Skills

On completion of this course, students will be able to:

  • Apply different conceptual frameworks for marketing decisions in the context of innovation;
  • Apply acquired theoretical knowledge to real-life business problems in the field of marketing and innovation;
  • Design strategic plans to deal with and participate in systematic product development and improvement initiatives;
  • Develop innovative solutions and mindsets in response to market opportunities.

Required prerequisite knowledge

None

Exam

Assignment and Portfolio (group)

Form of assessment Weight Duration Marks Aid
Assignment 1/2 1 Semesters Letter grades
Portfolio (group) 1/2 1 Semesters Letter grades

Students failing the portfolio evaluation will be given the opportunity to take a deferred exam. This exam will take the form of new written individual assignments.

Coursework requirements

Presentation and powerpoint submission, Attendance 70%
70% attendance at all mandatory sessions starting from week 1 of teaching in the course.

Course teacher(s)

Course teacher:

Shuai Yan

Course coordinator:

Shuai Yan

Study Program Director:

Yuko Onozaka

Method of work

Lectures, group work, and independent study. The estimated distribution of ECTS hours are as follows:

1. Lectures and student seminars: 50 hours

2. Group work: 110 hours

3. Independent study of course material 120 hours

Overlapping courses

Course Reduction (SP)
Developing and Marketing Innovations (MØA106_1) 10

Open for

Admission to Single Courses at UiS Business School
Master of Science in Accounting and Auditing Business Administration - Master of Science Business Administration - Master of Science (5 years)
Exchange programmes at UIS Business School

Course assessment

There must be an early dialogue between the course coordinator, the student representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital course evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.

Literature

The syllabus can be found in Leganto