10983 (v.3) Innovation and Product Development 650

Area:	School of Marketing
Credits:	25.0
Contact Hours:	3.0
Lecture:	1 x 3 Hours Weekly
Prerequisite(s):	5766 (v.6) Advanced Marketing 650 or any previous version
Syllabus:	Product innovation strategy - introduction to product innovation, strategy and managerial perspectives on proactive innovation. New product opportunity identification - market targeting, idea identification and screening. Designing and testing new products - product design and positioning, design for quality, sales potential and testing. Implementing innovation - organisational design options and customising the new product development process.

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. Prepared for a productive involvment in product design, to develop 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 role of 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. California, The Scientific Press. Crawford, C.M. New Products Management. Homewood, McGraw Hill. 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. Columbus, 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.