Product and Service Innovation Management
Duration
- One Semester or equivalent
Contact hours
- 36 contact hours
On-campus unit delivery combines face-to-face and digital learning.
Prerequisites
Corequisites
NilAims and objectives
To remain competitive, corporations must create superior value to their target market through the development and management of innovative products and services that are perceived to be superior by customers as compared to the competitors’ offerings. Students will build on the foundational marketing concepts by developing a deeper understanding of the steps involved in the development of new products and services, and the strategies used to manage product and service innovation in order to deliver superior value to customers.
Students who successfully complete this unit will be able to:
1. Describe the product (goods and services) management and innovation context with reference to roles, structures and processes
2. Describe the New Product Development process related to a selected product and plan a launch program
3. Critically appraise the economic viability of a new product
4. Explain the differences and similarities between goods and services
5. Review various options for the marketing and management of product innovation and management using both theoretical and practical approaches
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
(Weekly): Scheduled hours: Lectures (12 x 2 hours), Tutorials (12 x 1 hour),
Other Student workload: Other activities including independent study and assessment tasks for a total of approximately 150 hours
Online:
Students are expected to spend 12 hrs per week in engagement online with learning activities and discussion boards; and other activities including independent study and assessment tasks for a total of approximately 150 hours
Online (SOL):
Students are expected to spend 4 hrs per week in engagement online with learning activities and discussion boards; and other activities including independent study and assessment tasks for a total of approximately 150 hours
Assessment
Minor assignment (Individual) 15 - 25%
Major assignment (Individual/Group) 30 - 40%
Final exam (Individual) 35 - 55%
Major assignment (Individual/Group) 30 - 40%
Final exam (Individual) 35 - 55%
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
• analysis skills
• communication skills
• ability to tackle unfamiliar problems, and
• ability to work independently and in teams
Content
• The meaning, importance and function of the product management role in business today
• The impact of management practices on the development of goods and services based products
• The range of concept-generating techniques used for new product and service development
• The means of evaluating new product and service ideas
• Preparation of a product/service, a product/service launch plan and its importance as a marketing control tool for new products and services, product/service maintenance and product/service 're-launches'
• The importance of product positioning within the target marketing process, branding, packaging and the importance of successful working relationships with advertising, marketing, research, promotion agencies, etc. in the product management process
• The dimensions and measurements of service quality and customer satisfaction
• International aspects of product and service management
• The importance of successful working relations within the organisation, particularly with sales, production, supply and research and development, in the product and service development process
• The impact of management practices on the development of goods and services based products
• The range of concept-generating techniques used for new product and service development
• The means of evaluating new product and service ideas
• Preparation of a product/service, a product/service launch plan and its importance as a marketing control tool for new products and services, product/service maintenance and product/service 're-launches'
• The importance of product positioning within the target marketing process, branding, packaging and the importance of successful working relationships with advertising, marketing, research, promotion agencies, etc. in the product management process
• The dimensions and measurements of service quality and customer satisfaction
• International aspects of product and service management
• The importance of successful working relations within the organisation, particularly with sales, production, supply and research and development, in the product and service development process
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.