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Marketing Innovation
Submitted by escs on 22 July 2024
Scientific area

EPM

Advertising and Marketing

Hours
2
ECTS
5
Responsible teacher
Teachers who teach
Objectives

The course “Marketing Innovation" aims to provide students with an understanding of marketing innovation and the so-called "innovator's dilemma," along with methods to
overcome it. Additionally, students will explore alternative strategies in marketing innovation, such as the Blue, Red, and Purple Ocean Strategies for launching new,
differentiated products and services. They will be guided through the stages of the innovation and market launch process, incorporating consumer insights, feedback,
experimentation, and cross-departmental teamwork to achieve rapid, ethical, and sustainable growth. Moreover, students will learn about alternative market launch
approaches based on product positioning, as well as methods for evaluating the efficiency and effectiveness of the innovation post-launch, including relevant Key Performance Indicators (KPIs) and Return on Investment (ROI).

Skills

- Understand the concept of innovation in marketing and its applicability to enable organizational growth.
- Overcome barriers and challenges that may hinder innovation within the organization, particularly the "innovator's dilemma."
- Familiarize themselves with the various stages of the innovation process from ideation to delivering a new and differentiated offering to the target consumer.
- To know how to choose the most suitable innovation strategy based on market conditions, considering both the consumer and the competition
- Understanding the challenges of launching an innovation in the market, exploring positioning alternatives and marketing mix options to create the perception of a
differentiated value proposition.
- Utilize key tools for assessing the efficiency and effectiveness of innovations entering the market.