| Unit name | Marketing and New Product Development |
|---|---|
| Unit code | EFIM20030 |
| Credit points | 20 |
| Level of study | I/5 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Dr. Simon Blyth |
| Open unit status | Not open |
| Pre-requisites |
None |
| Co-requisites |
None |
| School/department | School of Economics, Finance and Management |
| Faculty | Faculty of Social Sciences and Law |
In this unit you will explore the changing marketing environment and the challenges this poses for marketers. You will learn to recognise the distinctive characteristics of products and services and understand the components that comprise their anatomy. You will explore the processes associated with innovation and new product development and apply those concepts to specific challenges posed by changes in the wider marketing environment as well as evolving consumer needs and wants.
In particular you will look at opportunities generated by advances in technology and advances in the areas such as digital marketing, sustainable marketing and social responsibility, developments and uses of marketing outside of commercial organisations (for example social marketing) and opportunities for entrepreneurial marketing.
This is a fast-changing field. You are encouraged to contribute by raising contemporary issues of particular interest to you, or by bringing in examples of latest developments or trends you have noticed.
On completion of this unit, students will be able:
LO1: Select appropriate methods in order to undertake a situational analysis of a given market.
LO2: Critically analyse the competitive, technological, environmental and other challenges that force companies to seek new, innovative, marketing techniques.
LO3: Demonstrate a knowledge of the structure and anatomy of products and services and distinguish betrween them; recognising their unique characteristics and attributes.
LO 4: Formulate an appropriate marketing response given a set of environmental opportunities and challenges and changing market needs.
LO 5: Demonstrate the capacity to implement the required processes needed to develop a new product or service in response to an identified challenge or opportunity in the market.
The learning process will be based upon a combination of pedagogical approaches, the use of each will be determined by what is most appropriate to achieve the session/unit learning outcomes. This unit will make use of case studies, problem solving activities, discussions (both structured and unstructured) and the evaluation of online and documentary resources. There will be an emphasis on shared knowledge, developed in dialogue and based on practice. For those less acquainted with practice issues more emphasis will be placed on research, case studies and other problem-solving activities. Some of these sessions may be hosted by guest lecturers from industry or other academic institutions.
You will be expected and directed to read from a range of sources including academic journals. You will interact and communicate within group activities enhancing practical leadership skills, including team, negotiating and influencing skills. You will work autonomously as well as interactively within group exercises.
Assessment on this unit is comprised of two components: A situation analysis in the form of an individual report (30%) and a portfolio that contains a new product development proposal and supporting evidence. (70%)
Situation Analysis (30%)
Students will be required to analyse a selected market environment and, in the context of a given organisation, undertake a TOWS analysis and identify critical success factors – 1000 words (LO1, LO2, LO3)
New Product Development Portfolio and Proposal (70%)
Using their critical success factors, students will then engage with each of the stages of the new product development process, creating a portfolio of evidence at each stage that culminates with a new product/service development proposal of no more than 2500 words. (LO3,LO4,LO5)
Students are encouraged to read extensively around their subject to inform their knowledge. Students should draw from a range of sources which may include academic texts and papers, practitioner books and journals, market reports and online sources.
Core Text for this Unit
Baines, P., Fill, Chris, & Rosengren, Sara. (2017). Marketing / Paul Baines, Chris Fill, Sara Rosengren. (Fourth ed.).
Supplementary Texts for this Unit
Chaffey, D. (2012). Emarketing excellence : planning and optimizing your digital marketing, Taylor & Francis
Lee, N. & Kotler, P. (2015). Social Marketing: Changing Behaviors for Good, London: Sage
Peterson, M. (2013). Sustainable Enterprise: A Macromarketing Approach, London: Sage
Brownlie, D., & Tadajewski, M. (2008). Critical Marketing: Issues in Contemporary Marketing. New Jersey: Wiley.
Andreasen, A. R. (Ed.). (2006). Social marketing in the 21st century. Sage.
Sloan, P., Legrand, W., Chen, J. C., & Chen, J. S. (2013). Sustainability in the hospitality industry: Principles of sustainable operations. Routledge, Oxon: UK.
Young, S. T., & Dhanda, K. K. (2012). Sustainability: essentials for business. Sage Publications Inc., Thousand Oaks: CA.
Academic & Practitioner Journals
Journal of Marketing
Journal of the Academy of Marketing Science
Journal of Business Ethics
European Journal of Marketing
Journal of Marketing Research
Tourism Management
Journal of Public Policy and Marketing
Business Horizons
Journal of Social Marketing
