The development, innovation and commercialisation of new products and services are crucial business functions for most organisations. New products are developed to explore new market opportunities and existing products are revised and innovated to exploit existing market opportunities. This unit builds on knowledge of marketing concepts and complements this knowledge by developing a deeper understanding of new product development, research and competency development, innovation management and marketing strategies in transforming markets and businesses for new and existing products and services. Organisation resources and practices that foster innovation through strategic alliances and research are examined alongside investigating the value creating activities through strategic usage of a firm's assets and knowledge.
On successful completion of this unit, students will be able to:
This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.