Innovation Marketing Strategies (3cr)

Objective

This course is targeted towards students aiming for successful careers in marketing and management at innovation focused companies.

Competing in innovation-focused markets requires dealing with complex customers, intense competition and constant product evolution. Innovation-focused marketing strategy lives in a state of permanent change, and needs instruments to let the company react quickly.

However, traditional strategic skills focus on stable environments. There is a lack of tools for dealing with ongoing strategic change. Highly skilled managers are often unprepared for these situations, and many companies lose the race. This course will serve that need, with a very real-life approach, covering only the innovation-related marketing strategic concepts and tools.

Students will understand how innovation markets function. They will learn to identify the key customer types, the dynamics of these customers and markets, the marketing actions to be assessed and decided, and the elements to implement simultaneously the portfolio of strategic decisions.

Content

Overview: Key Elements of an Effective Innovation Marketing Strategy
Innovation Marketing vs. Traditional Marketing
The Big Picture of Innovation Marketing: An Strategic Portfolio Management Approach
Innovation Customer Clusters: Understanding Innovation Customer Types and Needs.
Innovation Market Dynamics: Competition Frameworks, Success Factors, Customer Value Assessment, Strategic Marketing Actions
Innovation Risks and Failures: Inventoritis, Innovation Fatigue, Innovation Value Loss
Innovation Turnaround: Strategies for Extracting Maximum Value and Profitability from Innovations
Lessons to Learn: Innovation Marketing Successes and Failures, Best Practices

Qualifications

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Assessment criteria, satisfactory (1)

The students will be assessed based on the capability they show in understanding the key concepts and tools covered by the course, and on their participation and commitment to the course activities