You are required to identify, categorise and critique a marketing innovation of your choice. You will write up your findings in the form of a 2000-word report (references, tables, figures and appendices are excluded) that summarises your research findings and a critique of your named marketing innovation. 5 The report should describe the marketing innovation you have chosen (this could be a contemporary or historical innovation), company background (very brief, if necessary). You also should discuss the context of the chosen marketing innovation; that is, why and/or how this innovation can be considered as a marketing innovation. You then need to evaluate how the chosen marketing innovation was/is practiced and managed. Your report should be concluded by the managerial recommendations.
We suggest you choose a marketing ‘innovation’ where a clear innovation form(s) can be identified.
You should explain how the chosen marketing innovation was put into practice supported by theories (no more than five) and critique this practice to raise pertinent recommendations for a manager who wants to know how to manage a sound marketing innovation for his/her business today.
You are encouraged to use all resources at your disposal to carry out your research, including the internet, business press and library resources.
The rationale behind this continuous assessment is to provide you with the experience of identifying and researching marketing innovation ideas and managerial practices. This requires you to frame and pursue a process of inquiry that is of interest to you and to write up your inquiry and findings in a formal report format that can be used by a manager wishing to develop his/her own innovation strategy. Your workshops will provide you with the opportunity to work on this coursework and your reports analysis section will provide you with the opportunity to apply the theory covered in the course and to critique the concepts and managerial practices of your chosen marketing innovation. Finally, examples will be provided and discussed in lectures and seminars.
Academic Year 2021/22 Lent term (Term 2)
MKTG 315 (Part II):
Managing Marketing Innovation
Course Leader: Dr. Rebecca Liu
Contact Details: Room C06, Charles Carter, [email protected]
Office Hour: Mondays, 14.15 15.15 (pre-booking through email is recommended)
Other Staff: Ms. Bev Moss ([email protected])
Credits: 15
Communications URL: https://modules.lancaster.ac.uk/course/view.php?id=28792
INTRODUCTION/OVERVIEW
This course begins by exploring what marketing innovation is and why firms succeed or fail in business and the relevant issues associated with managing marketing innovation. From here, students will be encouraged to explore the changing business environments within which firms must survive. The course is organised into three major parts: (A) recognizing marketing innovation (B) managing marketing innovation and (C) exploring marketing innovation frontier, around six themes:
1.Marketing, innovation and marketing innovation
2.Marketing Innovation Strategies
3.Marketing Innovation Managing Process
4.Marketing Innovative Organization: Leadership and Culture
5.Marketing Innovation Governing: Open Innovation, Networking and Business Model
6.Marketing Innovation Frontier: Digitalization, Social and Sustainability-led
COURSE AIMS:
?To provide students with an introduction to the knowledge, understanding and skills required to manage marketing innovation at both the operational and strategic level.
?To provide students with an understanding of how the management of market, technological and organisational change integrate to improve competitiveness.
?To provide students with the experience of applying and adapting existing theoretical frameworks through real-world scenarios.
LEARNING OUTCOMES
By the end of this course students (you hereafter) should be able to:
?Draw on a variety of theoretical frames to analyse firms and markets to identify opportunities for marketing innovation;
?Identify and explain the management routines and practices that create innovation culture within a firm and with a wider business network;
?Identify and explain the managerial tools and practices used in managing a marketing innovation project;
?Conduct a process of inquiry that identifies and critiques marketing innovation development and implementation.
EMPLOYABILITY SKILL
In each course that you study in the Marketing Department you will learn subject specific knowledge (in this course that will be about the tools and management practices of innovators and market transformers) and more general, transferable skills which are applicable beyond your specialism and are thought valuable by employers. There are many of these skills being put into practice by you across your programme of study but this course will focus on developing three core employability skills:
?An essential expertise: This module is designed for those who are seeking for a contemporary expertise in todays business world. It aims to develop your understanding of key theories, concepts and models in innovations from a marketing view; to guide you with the development and execution of marketing innovation from a managerial perceptive; and to develop your skills to critically analyse existing research and theory as it relates to managing marketing innovation
?Report writing skills: As part of your coursework submission you are required to present your work in a formal report format. Presenting your work in a concise, structured and well-ordered format is a valuable skill in the workplace as it enables discussion and decision between different groups of people that you may want to mobilise into some form of coordinated action.
?Conducting a process of inquiry: As part of your coursework submission you are required to research and classify an innovation. In the work place you will be expected to find things out and organise your findings in an accessible and meaningful format.
?Analysing and synthesising data: Once you have collected your data for your coursework you will need to explain and justify what it means and why this information is important. Using theory to help you make sense of your data will develop your skills of analysis and synthesis so that you can make recommendations for future action is a well-argued and clearly articulated fashion.
