Marketing of Innovative Products

 

Instructor:

Dr. Maria M. Smirnova, Associate Professor (Marketing)

smirnova@gsom.pu.ru

Workload:

6 ECTS,

45 contact hours

Prerequisites:

The course is an advanced interdisciplinary course with the readings which will be advised to students with no previous experience in Marketing. 

Course Description:

Innovations are at the core of our lives. As consumers, we are facing them daily when making decisions. Managers and entrepreneurs embrace unprecedented opportunities for developing new products and solutions, introducing them to the market, revising existing business models and forecasting the success or failure rates. Despite these opportunities, we are far from uncovering “a success algorithm” for innovation.

Applying a multidisciplinary approach, the course aims to develop an understanding of the nature of innovation and the marketing-innovation interface. Business-to-consumers perspective is focused on cognition, perception and biases, affecting the adoption and consumption processes. Business-to-business perspective is centered on the idea of innovation network or ecosystem and the implications for decision making.

Major focus of the course content is placed on:

  • Understanding current trends, challenges and theory of marketing-inspired thinking in the field of innovation and R&D, 
  • Specifying key opportunities and algorithms of market research at various stages of the innovation process (from ideation to after-sales service),
  • Elaborating marketing perspective of the challenges an innovator can face when creating or launching a product or solution, 
  • Developing skills and knowledge for marketing support of the innovation process with the focus at marketing implications for each of the innovation process stages.

This course is relevant to those who are thinking about careers in marketing, new product development, innovation, market research, product and brand management, innovation, R&D, engineering or a position at the marketing-innovation (R&D) interface.

Course Content:

- Innovative product, service, offering and solution. Types of innovations. Service perspective and the service dominant logic. Innovation vs. high-tech products.
- Marketing framework and contingency theory.
- Innovative marketing culture. The role of market orientation. Innovator’s dilemma and marketing answers.
- B2C vs. B2B perspectives. Product adoption in the network economy. Decision making in the innovative context. Bias and opportunities.
- Traditional vs. advanced research approaches. Research philosophy and practice: small-n vs. large-n research. Consumer culture theory. Consumer insights. Modern design research methods.
- Managing categorization: implications for branding.
- 4A framework. Managing adoption gaps.
- Network perspective. Collaborative innovation.

Course Organization:

The course will follow a lecture, discussion, case analysis, and group exercise formats.
Students are expected to attend all classes and be fully prepared and actively participate in class discussions.
Student work in rotating groups along various tasks is a compulsory element.

Course Reading:

Marketing of high-technology products and innovations [Text] / Mohr, Sengupta, Slater. - 3rd ed., Pearson new international edition. - Harlow : Pearson Education, 2014. - II, 542 p. : il. - Includes bibliographical references and index (p. 527-542)
Case studies will be handed in before the class (compulsory).
Academic papers are to be downloaded from the e-databases (compulsory and optional).

Extensive list of supplementary literature is provided separately

Exam format:

Final exam will consist of short essay questions to test the understanding of material presented in class.
In-Class, 90 min.

Grading Policy:

Group Project              300
Group Cases               100
Group Articles             100
Class Participation        50
In-Class Task              50
Final Exam                 400

Total:                       1000

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