Develop a comprehensive understanding of product management, including—but not limited to—new product development, service innovation, user-interface design, managing the product portfolio, product-line extensions, understanding buyer's reactions to innovations and creating an innovative culture.
This course will provide you with a basis to improve new product launch rates across different industry contexts including business-to-consumer and business-to-business, 'product' contexts and global contexts.
The intent of this course is interactive and challenging. It has been designed to encourage interaction, discussion and self-directed learning.
Associate Professor Mike Reid - School of Economics, Finance and Marketing
On successful completion of this course, you will be able to:
- Use appropriate theoretical frameworks and models to evaluate product innovation situations and develop strategies and tactics;
- Evaluate the important relationship between marketing strategy choices and new product development decisions within an organisational context;
- Critique the role of the marketer in fostering new product development 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 and consumers and use it to inform product development decisions and strategy;
- Apply creative processes that foster idea generation, concept formation and product launch strategies; and
- Apply analytical techniques in assessing the strengths and weaknesses of the new product development process in an organisation context.
Assessment for this course will occur at various times across the seven-week teaching period. In most cases, assessment should follow a similar structure to the below:
- A short assessment may occur in the first couple of weeks, driven mostly by peer-assessment or objective feedback as is the case of a survey quiz or contribution to discussion.
- Assessments that occur mid-study period (approximately week 2 to 5) will have a highly formative purpose, like an extended case study or a scenario role play. These are intended to provide an indication of performance and occur at this time to enable positive changes to future performance.
- Final assessments are usually summative, and generally draw the course's threshold concepts together. Your previous assessments will have directly prepared you for a summative-style assessment.
Rich, online feedback will be provided to you throughout the teaching period on practical exercises and by individual consultation, ideally within five business days.
Please note, unit structure and content are subject to change. Contact your RMIT Student Enrolment Advisor on 1300 701 171 for more information based on your particular circumstances.