units

MKF5801

Faculty of Business and Economics

18 September 2017 24 November 2024

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This unit entry is for students who completed this unit in 2016 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

Monash University

6 points, SCA Band 3, 0.125 EFTSL

Postgraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Faculty

Business and Economics

Organisational Unit

Department of Marketing

Coordinator(s)

Dr Samir Gupta

Offered

Caulfield

  • Second semester 2016 (On-campus split block of classes)

Synopsis

The ability to bring a steady stream of innovations to the marketplace is the underpinning of business success. Doing so with a firm focus on customers and emphasis on building strong, memorable brands underlines a marketing perspective on innovation. Such market-oriented innovation has to be pervasive and consistent in an organisation. This unit focuses on how innovation and new product development adds continuous value to organisations for it to be competitive in the dynamic markets. It will discuss the nuances of innovation from a marketing perspective and will provide tools and frameworks to tackle market-based innovation challenges. Students will have the opportunity to gain practical, real world experience through a project. Finally, the unit will enhance your ability to communicate (written and verbal) ideas and solutions in business market environment.

Outcomes

The learning outcomes of this unit are to:

  1. explain the theoretical concepts and processes of innovation
  2. assess the impact of networks in the innovation process
  3. apply the concept of value co-creation for new products/services
  4. develop a marketing plan for a new product/service based on co-creation concepts.

Assessment

Within semester assessment: 60%
Examination: 40%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)

Dr Samir Gupta

Prerequisites

Students must have completed at least 24 credit points of study before undertaking this unit.

Co-requisites

Students must be enrolled in course 2276, 4431 or 0105 to undertake this unit.