GRA 6440 Marketing Innovation Management

GRA 6440 Marketing Innovation Management

Course code: 
GRA 6440
Department: 
Marketing
Credits: 
6
Course coordinator: 
Fred Selnes
Course name in Norwegian: 
Marketing Innovation Management
Product category: 
Master
Portfolio: 
MSc in Strategic Marketing Management
Semester: 
2017 Autumn
Active status: 
Active
Level of study: 
Master
Teaching language: 
English
Course type: 
One semester
Introduction

How companies communicate their value proposition has huge impact on sales and brand building.  Recent changes in communication technologies, related to this, customer information search and buying behavior, is changing how companies can effectively communicate with their customers. The ongoing digitalization of markets and marketing, provides vast opportunities, and has accentuated the need for companies to re-invent their marketing.  With new technologies, companies also acquire more data about customers and their information search behavior. Such data is increasingly being used to target and personalize communication, bridging the creative and analytical competencies.

Marketing innovation management is about developing and implementing new concepts for communicating to acquire new customers, to increase sales with existing customers, or to strengthen their preference (i.e. loyalty) for the brand. The innovation process starts with defining the business problem. This will clarify what value the new concept will create for the company. The next stage is a creative process where a number of concept ideas are developed and evaluated. This stage relies heavily on various forms of marketing research. A business-case is needed before a decision to invest in development.  of a new communication concept. A projection of the expected cash-flow effect, the risk elements and plan for implementation are key elements of a business case. When the new concept is developed a detailed plan for implementation is required. As most innovations have a slow adoption phase, companies need diagnostic information about leading indicators to know if a new concept is being successfully implemented.

In this course, students will develop a marketing innovation on their own. They will employ methodology for defining business problems, creation of ideas and concepts, testing, and projections of expected cash-flow effects. Guest lectures will provide examples and give inspiration to studying marketing innovations.

Learning outcomes - Knowledge

The course is designed to provide you with a comprehensive overview of the topic of marketing innovation and hands-on innovation project in a team with other students and in close collaboration with a company and/or an advertising agency.

More in detail, the course shall give you:

  • Overview of trends driving opportunities and challenges in marketing innovation
  • Understanding of managerial challenges in organizing marketing innovation
  • In depth understanding of creativity and the marketing innovation process
  • Ability to collect, analyze and use market and customer data in marketing innovation
  • Ability to design and lead marketing innovation projects
Learning outcomes - Skills
  • Conduct a concept test
  • Estimate expected revenues and cost of a marketing innovation
  • Develop a business case
Learning Outcome - Reflection
  • Deep thinking in marketing innovation
  • Have deep thoughts on the origin of really good marketing ideas
Course content

The course is divided into 5

(1) Marketing innovation theories and trends

(2) Managing innovation development processes

(3) Creativity in marketing innovation

(4) Developing a business-case

(5) Managing implementation of marketing innovations
 

A detailed schedule with dates will be distributed during the first class.

Learning process and requirements to students

A course of 6 ECTS credits corresponds to a workload of 160-180 hours. This course is very interactive allowing you to develop a common understanding of all concepts. This requires that everyone has prepared the relevant materials in advance of each session. Students will work in groups with their marketing innovation project, and are expected to report, and discuss their projects during the semester. Please devote significant time to do so and come prepared!

If you have to miss class on a particular day, it is your responsibility to get notes from a classmate. Let me know as soon as possible if you have to miss a class. During the semester, if you experience any problem(s) with the class or any of the classmates I expect you to report any problem(s) that you are not able to resolve yourself to me as soon as possible.

This is a course with continuous assessment (several exam components) and one final exam code. Each exam component is graded by using points on a scale from 0-100. The components will be weighted together according to the information in the course description in order to calculate the final letter grade for the examination code (course). Students who fail to participate in one/some/all exam elements will get a lower grade or may fail the course. You will find detailed information about the point system and the cut off points with reference to the letter grades when the course start.

At resit, all exam components must, as a main rule, be retaken during next scheduled course.

Software tools
No specified computer-based tools are required.
Additional information

For fulfilling the assignments, you will need to conduct a real marketing innovation project. Students work in groups of 2-3 students. Grades are given to the group.

Specific information regarding student assessment will be provided in class. The final grade for the course is based on the aggregated mark of the course components. Each component is weighted as detailed in the course description. Students who fail to participate in one/some/all exam components will get a lower grade or may fail the course. You will find detailed information about the points system and the mapping scale in the student portal @BI. Candidates may be called in for an oral hearing as a verification/control of written assignments.

Qualifications

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Required prerequisite knowledge

All courses in the Master of Science programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression.

For double degree and exchange students, please note that equivalent courses are accepted.

 

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Activity
Form of assessment:
Presentation
Exam code:
GRA64401
Grading scale:
Point scale
Grading rules:
Internal examiner
Resit:
All components must, as a main rule, be retaken during next scheduled course
30No 1 Semester(s)Group ( 2 - 3) Presentation of business-case in class
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA64401
Grading scale:
Point scale
Grading rules:
Internal and external examiner
Resit:
All components must, as a main rule, be retaken during next scheduled course
70No1 Semester(s)Group ( 2 - 3)Term paper (15-20 pages) - Marketing innovation project
Exams:
Exam category:Activity
Form of assessment:Presentation
Weight:30
Invigilation:No
Grouping (size):Group (2-3)
Duration: 1 Semester(s)
Comment: Presentation of business-case in class
Exam code:GRA64401
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Exam category:Submission
Form of assessment:Written submission
Weight:70
Invigilation:No
Grouping (size):Group (2-3)
Duration:1 Semester(s)
Comment:Term paper (15-20 pages) - Marketing innovation project
Exam code:GRA64401
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Exam organisation: 
Continuous assessment
Grading scale: 
ECTS
Total weight: 
100
Sum workload: 
0

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.