10832 (v.3) Innovation and Product Development 421

Area:	School of Marketing
Credits:	25.0
Contact Hours:	3.0
Lecture:	1 x 3 Hours Weekly
Other Requisite(s):	Admission: Requisite upon acceptance into commerce honours program
Syllabus:	Product innovation strategy, introduction to product innovation, the managerial perspective on a proactive innovation process. New product opportunity identification, market targeting and idea identification and screening. Design and testing new products, product design and positioning, design for quality, forecasting sales potential, financial analysis, product testing, and marketing test. New product introduction, launching and commercialisation of new products.

Unit Outcomes:	On successful completion of this unit students will have- Understanding of the complexity of the new product development process and an appreciation of the need for a disciplined approach to it. Developed skills needed for a proactive new product strategy, including the concept generation and screening. Become prepareed for a productive involvment in product design, developed competence in product positioning, and expertise in design of integral marketing program for new products Discussed decision making tools for new product sales forecasting throughout product concept testing, pretest and test marketing. Built skills in measurement of the market reaction on new product features, and developed expertise for necessary adjustments in product attributes,packaging and all elements of the marketing programme during the period from test market to national introduction and commercialism. Provided expertise for an active involvment in the multifunctional product innovation process. Become exposed to the roleof analytical support tolls and give them a hands on experience in their use in applied class projects.
Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.
Unit References:	Clarke, D.G. (1993). Marketing Analysis and Decision Making: Text and Cases with Spreadsheets. South San Francisco, The Scientific Press. Gruenwald, G. (1992). New Product Development. Lincolnwood, NTC Business Books. Hendon, D.W. (1992). Classic Failures in Product Marketing. Lincolnwood, NTC Business Books. Hisrich, R.D. and Peters, M.P. Marketing Decisions for New and Mature Products. Ohio, Merril Publishing. Link, P. (1987). Marketing of Technology: An Australian Perspective. Melbourne, Nelson. Wind, Y.J., Mahajan, V. and Cardozo, R. New Product Forecasting. Lexington, Heath and Company.
Unit Texts:	Urban, G.L. and Hauser, J.R. (1993). Design and Marketing of New Products. New Jersey, Prentice Hall.

Unit Assessment Breakdown:	Mid Semester Examination 30%, Presentation 20%, Participation 10%, Applied Project 40%. This is done by grade/mark assessment.