Delivered at:: Department of Educational Programmes

Course type:: Elective course

When:: 2 year, 1 module

Abstract

The course introduces the basic theories and concepts underlying the state of the art marketing. Marketing Innovation is a 21st century topic with a rapidly developing instrumental framework. In the rapidly changing economic environment, and the growing interdependence of market players, the market resistance to innovation becomes only stronger. In the process of innovation management, companies sometimes underestimate the role of product marketing and further product development based on anticipated demand. As the market becomes more consumer-centric, the companies face constant challenges to develop new instruments of bringing innovations to market. The course thus provides insights to students how innovative companies can adopt the comprehensive approach to their go-to-market techniques, develop relationship-based marketing instruments, and processes of value co-creation in order to shape consumer experience. It indicates marketing innovation as the key element of innovation management and justifies the need for companies to respond to changing consumer demands and expectations. The course is a major component of the concept of innovation. The learners get to know the basic theories and instrument of the diffusion of innovations and understand its key drivers - including the technology push, the market pull as well as economic, social and institutional factors.

Learning Objectives

Up to date knowledge on marketing innovations
Training of market analysis
Training of interdisciplinary and systemic thinking
Training of problem identification and solution

Expected Learning Outcomes

Ability to analyze problematic situations applying the system approach, work out a strategic plan
Ability to apply modern communicative technologies, in a foreign language as well, for academic and professional interactions
Ability to develop and implement corporate, business units, functional and regional strategies and complement with respective communication strategies
Ability to recommend up to date business development activities, design manage corporate entrepreneurship
Ability to review existing business models and develop new business
Able to manage project and process activities in an organization using modern management practices, leadership and communication skills, identify and assess new market opportunities, develop strategies for the creation and development of innovative activities and the corresponding business models of organizations
Able to solve professional problems based on knowledge (at an advanced level) of economic, organizational and management theory, innovative approaches, generalization and critical analysis of management practices

Course Contents

The Meaning of Marketing Innovation
Market Research and Customer Development in Technological Markets
Market Strategy Framework for Innovations
Marketing Mix for Innovative Products

Assessment Elements

Exam
Interim tests
Group projects

Interim Assessment

2021/2022 1st module
0.5 * Group projects + 0.1 * Interim tests + 0.4 * Exam

Bibliography

Recommended Core Bibliography

Cooper, B., & Vlaskovits, P. (2016). The Lean Entrepreneur : How Visionaries Create Products, Innovate with New Ventures, and Disrupt Markets (Vol. Second edition). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1179810
Osterwalder, A., Clark, T., & Pigneur, Y. (2010). Business Model Generation : A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=335366
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2015). Value Proposition Design : Entwickeln Sie Produkte und Services, die Ihre Kunden wirklich wollen. Die Fortsetzung des Bestsellers Business Model Generation! Frankfurt: John Wiley & Sons, Inc. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1166970
Osterwalder, A., Smith, A., Bernarda, G., & Pigneur, Y. (2014). Value Proposition Design : How to Create Products and Services Customers Want. Hoboken: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=945730
Ries, E. (2011). The Lean Startup : How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Currency. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=733896
Trott, P. (2017). Innovation Management and New Product Development (Vol. Sixth edition). Harlow, Enlgand: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419855

Recommended Additional Bibliography

Christensen, C. M. (2016). The Innovator’s Dilemma : When New Technologies Cause Great Firms to Fail (Vol. [Third edition?]). Boston, Massachusetts: Harvard Business Review Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1917647
Christensen, C. M., & Raynor, M. E. (2013). The Innovator’s Solution : Creating and Sustaining Successful Growth. Boston, Massachusetts: Harvard Business Review Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=675243
Keeley, L. (2013). Ten Types of Innovation : The Discipline of Building Breakthroughs. Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=571813
Slywotzky, A. J., & Weber, K. (2011). Demand : Creating What People Love Before They Know They Want It (Vol. 1st ed). New York: Crown Business. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=733888

Master’s Programme 'Science, Technology and Innovation Management and Policy'

Marketing Innovation

Course Syllabus