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.
Semester tution start
Number of semesters
Language of instruction
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).
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.
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
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.
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
|Developing and Marketing Innovations (MØA106_1)||10|