School of Management, Unit Catalogue 2007/08 |
MN50262 Developing and launching new brands |
| Credits: 6 |
| Level: Masters |
| Semester: 2 |
| Assessment: CW 100% |
| Requisites: |
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Aims: The main aim of the unit is to bridge marketing theory on new product development with the practical application of concepts by using real case studies. Specifically the aims are:
* to create an understanding of the new product development process from a marketing perspective; * to create awareness of the main marketing strategies and decisions involved in the first stages of NPD; * to explore the main market research methodologies and approaches in the creation and development of new brands; * to create an understanding of the main challenges involved in the process of launching new offerings. Learning Outcomes: By the end of this unit students should have: * Competence with a set of tools and methodologies for new product development decisions. * Knowledge of the main marketing concepts pertaining to new product development. * Understanding of marketing's role in the new product development process. * Confidence in abilities to create and launch a new product. Skills: * Ability to apply theory to practice (T, F, A); * Critical thinking and creativity (F); * Problem-solving and analytical skills for new product development situations (T, A); * Presentation skills (A). Content: This elective is divided into two parts. The first part is designed to explore the role of marketing in the early stages of the new product development (NPD) process. The emphasis is on developing and assessing new product concepts. The focus is on the main strategic decisions involved in the development of products that vary in their degree of 'newness'. We also examine the use of market research information and a variety of ways of hearing the voice of the customer and then translating it into specific brand decisions. The second part of the elective is designed to explore the main challenges involved in the process of launching new brands and to explore the tensions between the classical branding paradigm and the "hit marketing" paradigm. The emphasis is on the appropriateness of NPD processes and the framing of brands. The unit is case-study based, that is, real-life case studies will be discussed and analysed in each session. |