Innovation marketing

EM4R5M23

Program
PGE
PGE 3A - Operational and Strategic Marketing (SOMKT)
UE
Innovation and Value Creation
Semester
A
Discipline
Marketing
Contact hours
27 Hof which 5 is/are e-learning
Number of spots
45
ECTS
5
Open to visitors
Yes
Language
Coordinator
Martin KAISER


Pedagogical contribution of the course to the program

LEARNING GOAL 1 : Students will master state-of-the-art knowledge and tools in management fields in general, as well as in areas specific to the specialized field of management.

Students will identify a business organization’s operational and managerial challenges in a complex and evolving environment.
Students will understand state-of-the-art management concepts and tools and use them appropriately.
Students will implement appropriate methodologies to develop appropriate solutions for business issues.
LEARNING GOAL 2 : Students will develop advanced-level managerial skills.
Students will work collaboratively in a team.
Students will participate in a decision-making process in a critical way.
Students will communicate ideas effectively, both orally and in writing, in a business context.
LEARNING GOAL 4: Students will study and work effectively in a multicultural and international environment.
Students will demonstrate written and oral competency in two foreign languages.
Students will analyze business organizations and problems in a multicultural and international environment

Description

The marketing of innovative products and services is a fairly new multidisciplinary field where different types of innovation (i.e. technology, business model or usage / experience driven) are merging with strategic and tactical marketing technics in order to create new value propositions for new markets. The firm conviction of this course consists in the fact that both, innovation and marketing methods need to evolve and be applied in harmony by companies in order to successfully commercialize new offerings. Recent organizational tendencies - i.e. diminished strategic marketing organizations vs. data and analytical intelligence driven capacities - as well as the reduction of product & branding marketing functions being replaced by tactical functions of acquiring and retaining customers (i.e. campaign management) have gained ground and make the argument for less marketing, rather than more. Similar misconceptions exist in the field of innovation where “advanced engineering”, “research & development” as well as isolated “start-up investments” are dominating more fundamental, disruptive innovations that modify the value-chains, eco-systems and business models of historically successful markets and business organizations. Hence, in order to improve our comprehension of ‘innovation marketing’ we first need to revisit modern foundations of innovation as well as present-time tools of strategic and operational marketing. This should allow the participants of this class to develop new insights on new target customer’s fundamental needs and drivers, to develop new business models, end-to-end experiences or entire go-to-market and usage ecosystems, that are essential to create new markets. Concrete illustrations of such powerful synergies between innovation and marketing will be given in the fields of B2C and B2B environments and the students should apply these given technics on concrete business cases that are worked through by multi-disciplinary groups ideally. Potentially, depending on the student profiles, the class could develop are fictious new product or service offering for a new market segment.

Teaching methods

Face-to-face

- Lectures

In group

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Interaction

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Others

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Learning objectives

Cognitive domain

Upon completion of this course, students should be able to
  • - (level 3) Apply fundamental marketing tools adapted for identifying new market segments, value propositions and go-to-market ecosystems
  • - (level 4) Analyze the foundations of innovation and innovations types.
  • - (level 4) Analyze the logic of test markets, and progressive roll-out & promotion technics
  • - (level 6) Evaluate the key organizational success factors for driving and commercializing innovative marketing projects

Affective domain

Upon completion of this course, students should be able to
None affective domain have been associated with this course yet

Outline

A.) Twelve hours serving to build an academic foundation for marketing innovative products & services – synchronized (physically present or via video-conference Zoom – can be filmed) 1. Introduction : structure & resources for the course. Building of working groups for the semester Presentation of modern innovation types (technology, business model, experience driven), degrees of innovation& adoption curve. Product & service development technics and adapted development methods (i.e. design thinking, agile, etc) and organizations. (2 hours) 2. Presentation & illustration of 10 fundamental marketing tools adapted for identifying new market segments, value propositions and go-to-market ecosystems. (2 hours) 3. Ideation and Development Phase: Key organizational success factors for driving and commercializing innovative marketing projects Illustration & tools for ideation & development (2 hours) 4. Commercialization Phase: Business Plan vs. Business Canvas Pitching the offer Minimum viable products, test markets and progressive roll-out & promotion technics (2 hours) 5. Illustration of Business Case for innovative marketing (1 hour) Preparation for group assignments. Presentation and in-depth analysis of four B2B and B2C examples of innovation marketing initiatives that were successful or that failed. Examples: vanmoof electrical bike (www.vanmoof.com ) ; peloton home training experience / service (www.peloton.com ) 6. Presentation of the two business cases by the student working groups : 5 groups of 7 people (3 hours)

No prerequisite has been provided

Knowledge in / Key concepts to master

none

Teaching material

Mandatory tools for the course

- Computer

Documents in all formats

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Moodle platform


- Other :

Software

No items in this list have been checked.

Additional electronic platforms

No items in this list have been checked.

Recommended reading


Frugal Innovation: How to do more with less, , Navi Radjou and Jaideep Prabhu, The Economist Books, 2015, 2016 - Navi Radjou is a Silicon Valley based innovation and leadership thinker, fellow at Cambridge Judge Business School - Jaideep Prabhu is Professor of Marketing and Jawaharlal Nehru Professor of Indian Business at Judge Business School, University of Cambridge. Reinventing the Product, Eric Shaeffer and David Sovie, Accenture, 2019 - Eric Schaeffer is a Senior Managing Director at Accenture, focused on helping industrial organizations harness connected innovation to digitally transform their business for growth - David Sovie is a Senior Managing Director at Accenture and the Global Lead for High Tech Industry. He focuses on shaping and executing large-scale digital transformation and business reinvention programs. Subscribed – Why the Subscription Model Will Be your Company’s Future – and What to Do About It, Tien Tzuo, Founder and CEO of Zuora, former Strategy Director of Salesforce Inc. Tien Tzuo presenting the subscription economy : https://www.youtube.com/watch?v=80_PhJE6rUo Driving Digital Strategy, Sunil Gupta, Harvard Business Review Press, 2018 - Professor Sunil Gupta is the Edward W. Carter Professor of Business Administration and co-chair of the executive program on Driving Digital Strategy at Harvard Business School. He served as the head of the Marketing Unit from 2008-2013 and was the Chair of the General Management Program from 2013-2019. Escape Velocity,, Geoffrey A. Moore, Harper Collins Books 2011 Crossing The Chasm, Geoffrey, A. Moore, Harper Collins Books 2013 The Lean Startup, Eric Ries, Portfolio Penguin, 2011 - Eric Ries, after graduating for Yale University, moved to Silicon Valley in 2001 as a software engineer with There, Inc.[1] He worked with the firm until the 2003 launch of its web-based 3D Virtual World product, There.com.[1] The company soon failed. - The Three Box Solution, Vijay Govindarajan, Harvard Business Review Press, 2016 - Vijay Govindarajan (born 18 November 1949), popularly known as VG, is the Coxe Distinguished Professor (a Dartmouth-wide chair) at Dartmouth College's Tuck School of Business and Marvin Bower Fellow, 2015–16 at Harvard Business School. He worked as General Electric's first chief innovation consultant and professor in residence from 2008–10. He is a New York Times and Wall Street Journal best-selling author and a two-time winner of the prestigious McKinsey Award for the best article published in Harvard Business Review. Value Proposition Design, Alex Osterwalder, Yves Pigneur, Greg Bernarda, Alan Smith, John Wiley & Sons, 2014 BLUE OCEAN STRATEGY : How to Create Uncontested Market Space and Make the Competition Irrelevant W. Chan Kim and Renee Mauborgne PLATFORM REVOLUTION , Geoffrey Parker is a Professor of Engineering at Dartmouth College and Faculty Fellow at the Massachusetts Institute of Technology (MIT) Center for Digital Business. For more on this author watch this video : https://www.youtube.com/watch?v=fIgq6vaN3O0


No reading material has been provided.

EM Research: Be sure to mobilize at least one resource

Textbooks, case studies, translated material, etc. can be entered
No reading material has been provided.

Assessment

List of assessment methods

Intermediate assessment / continuous assessment 1Class no. nc
Written and oral (30 Min.) / Group / English / Weight : 50 %
Details : Business cases presenation
This evaluation is used to measure LO1.1, LO1.2, LO1.3, LO2.1, LO2.2, LO2.3, LO4.1, LO4.2
Intermediate assessment / continuous assessment 2Class no. nc
Written (30 Min.) / Individual / English / Weight : 25 %
Details : Individual book reading and presentation
This evaluation is used to measure LO1.1, LO1.2, LO1.3, LO4.2
Intermediate assessment / continuous assessment 3Other (date, pop quiz, etc.) : all the sessions
Oral (1 Min.) / Individual / English / Weight : 25 %
Details : participation
This evaluation is used to measure LO4.1
No assessment methods have been attributed to this course yet.