Innovation is the lifeblood of modern economies and a key competitive advantage for firms. At the same time, the ultimate success of a new offering, whether a product or service, is fraught with uncertainties. The development and marketing of new products and services is therefore one of the most critical challenges and daunting tasks faced by any firm. This course covers different stages of the development and marketing process, from opportunity identification to launch.
Upon completion of the course, students will have knowledge of:
The different stages of the new product development process;
Innovation idea generation and selection in firms and the possibilities of involving consumers in these processes;
Innovation introduction and take-off;
Diffusion of a new product or service among consumers;
Innovation pioneering and entering existing markets with innovations;
Quantitative tools to study new products and services and new markets.
After 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 within the domain of marketing and innovation;
Build an innovative mindset;
Integrate different perspectives to inform a balanced overall decision.
The course consists of three key parts: (1) Innovation Generation and New Product Development, (2) Launching and Positioning Innovations in the Marketplace, and (3) Adoption and Diffusion of New Offerings. As such, the course illustrates recent developments in innovation and marketing and show-cases the possibilities to involve consumers in the process.
Required prerequisite knowledge
Paper (individual) and Portfolio (group)
Form of assessment
A - F
A - F
Students failing the portfolio evaluation will be granted the opportunity of taking a deferred exam. This exam will take the form of new written individual assignments
Presentation and powerpoint submission
70% attendance of all mandatory sessions starting from week 1 of teaching.
Erik Lee Olson
Method of work
Lectures, group work, and independent study. The estimated distribution of ECTS work hours are as follows: