Innovation and Marketing

Interested in innovation, new markets and entrepreneurship? Than this is a must-take minor for you!
Innovation is the engine for growth in most modern firms. However, many organizations fail when bringing innovations to the market. The development and marketing of new market offerings is therefore arguably one of the most critical and most difficult challenges faced by any organization.
We will go through each stage of the new product development process, from opportunity identification until product launch. Throughout the lecture series, we will use business cases, simulation games, recent articles from the academic literature, and many practical examples to illustrate recent developments in innovation and marketing and the possibilities to involve consumers in the process.

This minor covers topics related to innovation, new markets and entrepreneurship. We discuss the different stages of a new product development process, and identify the challenges and dynamics in each. The learning method of the minor involves lively class discussions in the study of conceptual academic models, business case analyses, simulation games, and examples from practice.

This minor will train “both sides of your brain”, because you will need to show creative and analytical skills at the same time. We will build on case studies, conceptual frameworks and a simulation game to make the course applied and rigorous.
The objectives of the course are to:

• Provide you with an understanding of the specific nature of innovation-related marketing by going through the entire cycle from having a great new business idea to taking that idea to commercial success.
• Equip you with conceptual frameworks to help you make better marketing decisions regarding the marketing of innovations.
• Let you apply this knowledge to real world business problems.

Please be aware that we recommend anyone taking this minor not to also take the seminar “Developing and Marketing New Products” (FEM11177) in the master program Economics & Business.

Plenary lectures combined with student's participation, Group work.

Modules

• Innovation and New Product Development

• Adoption and Diffusion of New Products

• Simulation

• Launching and Positioning Innovations in the Marketplace

Teaching material
Reader and case studies

Examination
There will be one written exam at the end of the minor that evaluates the different modules of the course. Students must pass the exam in order to pass the course.

In addition, students will have to actively participate during the lectures, work on, and pass, individual case assignments, and contribute to, and pass, all group assignments and the simulation (including the final presentation) in order to pass the course.

To qualify for 15 ECTS students have to work on additional case assignments (in comparison to students opting for 12 ECTS). The extra assignment involves class presentations.

For 12 credits course:

Written exam (individual) 40%
Simulation performance & learnings presentation: 30%
Class Participation (individual): 30%

For 15 credits course:

Written exam (individual) : 30%
Simulation performance & learnings presentation: 20%
Class Participation (individual): 30%
Case session chairing: 20%

Students must pass the exam in order to pass the minor.