MKF5801 - Customer focused innovation - 2019

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.

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.

Within semester assessment: 60% + Examination: 40%

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