Product Innovation and Management
RMIT University Vietnam
Ho Chi Minh City, Vietnam
Area of Study
Taught In English
Required Prior Study
008953 - Marketing Principles
008963 - Buyer Behaviour
008961 - Market Research
008956 - Marketing Communication
008964 - Service Quality
Host University Units12
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4.5
Hours & Credits
The development of new products, including goods and services includes significant risk. This course draws on industry experiences and academic research to give you a balanced view of theory versus practice in the management and successful commercialisation of new products. The course highlights the importance of product innovation, especially for companies wanting to regain and retain competitive advantage within their industry. The new product development process will be covered with reference to past new product successes and failures. The course also considers the planning, development and implementation of new products within the context of a competitive and dynamic marketing environment, the fast pace of technology development, the convergence of industries and the increasing sophistication of the consumer. The course aims to instil a passion for innovative products whilst providing skills to examine the likely market success of these products.
Objectives/Learning Outcomes/Capability Development
On the successful completion of this course you will be able to:
Use appropriate theoretical frameworks and models to evaluate product innovation situations and develop options and recommendations for new product investments.
Recognise the important relationship between marketing strategy choices and new product development decisions in an organisation and apply these in new product choices.
Understand the role of the marketer in developing new product development strategy and the ways in which they motivate others in the organisation to contribute to the process
Source and critically analyse information about the market environment to make product development decisions
Apply tools to foster creative idea generation, concept formation and product launch strategies.
Analyse and evaluate the strengths and weaknesses of the new product development process in an organizational context to improve its effectiveness and efficiency.
Overview of Learning Activities
In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.
Overview of Learning Resources
Various learning resources are available online through myRMIT/Blackboard. These may include topic notes and slides, a study schedule, assessment details, links to relevant internet information, readings and communication tools to facilitate collaboration with your peers and sharing of information.
Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT Library website.
Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period.
Overview of Assessment
The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:
Assessment Task 1: 20%
Linked CLOs: 1, 2, 4, 5, 6
Assessment Task 2: 30%
Linked CLOs:1, 2, 3, 5, 6
Final Examination: 50%
Linked CLOs: 2, 3, 6
Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.