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Welcome to the course Innovation Marketing and New Product Development. In this course , we will explore the fascinating science of managing innovations in marketing. A lot of new products fail and such failures result in huge consequences for the organizations.But despite the risk of failure, no firm can afford to ignore innovation. In competitive markets, innovation alone creates huge value to the firms . If only we could improve the chances of success for new products, a lot of risk and uncertainty will be removed from business. Innovation in practice therefore is a high risk high return activity.
This course basically addresses the following themes.
- What is innovation and what are the different types of innovation?
- What is strategic innovation? What prevents organizations from being innovative?
- How do consumers adopt innovation? How can we understand and model Innovation adoption?
- What is the process of New Product Development? What research methods and techniques help use to learn about consumers and develop consumer insights?
- How do we manage the process of New Product Development and create a culture of innovation in organization?
- How do we manage the marketing of an innovation to induce trial and gain marketing acceptance among consumers?
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