Marketing and Innovation

By Prof. Smitha Girija | IILM Institute for Higher Education

Learners enrolled: 2089

This is a course from IILM Institute for Higher Education, delivered by Prof.Smitha Girija and is developed under the guidance of Prof. Jagdish Sheth, Charles H. Kellstadt Professor of Marketing, Goizueta Business School, Emory University, Atlanta GA

This course will make participants leverage marketing concepts to influence the outcomes of new products and innovations and will help students understand the basics of innovation, types of innovation, diffusion of innovation and barriers to Innovation. They will also learn about how to evaluate market attractiveness, think about the design and management of distribution channels and understand pricing architectures to market innovation and innovative products. This strategic approach is applied to real world examples to help technical executives learn to identify the right product for the right market opportunity.

Learning Objectives

Develop a strategic framework for assessing market opportunities
Anticipate and take advantage of the customer decision process with consumer insight
Leverage innovation and design thinking to capture value for customers
Choose marketing channels best suited for their product and market
Communicate more effectively with the marketing team
Link between Innovation, marketing and meaning of customer value

Summary

Course Status :	Completed
Course Type :	Core
Duration :	8 weeks
Category :	Management Studies
Credit Points :	3
Level :	Postgraduate
Start Date :	15 Jul 2019
End Date :	31 Oct 2019
Exam Date :	09 Nov 2019 IST

Note: This exam date is subjected to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1: Innovation as key source of Business

Why is it hard to innovate?
What Makes Innovators Different?
Types of Innovation
Innovator’s Dilemma – the essence of marketing to resolve the dilemma
The link between innovative ideas, innovation and Marketing

Week 2: How to Succeed in Marketing

Marketing Remix- Introducing 4A’s
Think like a customer
Managing Acceptability
Managing Affordability
Managing Accessibility
Managing Awareness
Applying 4 A Analysis

Week 3: Understanding Consumer Behavior

Do Consumer really have a Hierarchy of Motivations?
Why we buy, what we buy?
Consumer Decisions and Relationships
Climate Consumption and Culture
Online Consumer Behavior

Week 4: Setting New Product Development Goals

Introduction to New Product Development
A framework for successful New Product Development
The factors of success for new product development
Product Development Methodologies and Organization
Opportunity Identification and Selection

Week 5: Design Thinking Process for Product development

Building Capabilities for Execution
Applying design thinking to drive innovation
Improving product development and innovation strategy
Examining the best practices in prototyping and experimentation

Week 6: Managing Innovation

Why do most innovations fail?
How to Develop Affordable innovations?
Disruptive Innovation Model

Week 7: New Product Adoption

Diffusion of Innovation Theory
Assessing the drivers of new product adoption
Consumer Adoption Patterns
Determining promotional strategy
Considering overall product positioning
Factors of the success of Product innovation

Week 8 - Topic: Linking Innovation strategy to Product Launch

Bringing Innovations to Market
The Innovators License
Network Externalities or Effects
The trajectory of buzz
Go-to Market Campaign
Targeting revenue leaders instead of Influencers

Books and references

Four A's of Marketing- Creating Value for customers by Prof Jagdish N Seth and Rajendra S Sisodia
Consumer Behaviour- A Managerial Perspective by Dheeraj Sharma, Jagdish Sheth and Banwari Mittal
Marketing management by Kotler and Keller.
The Innovators Dilemma by Clay Christensen

Instructor bio

Prof. Smitha Girija

Professor Marketing

IILM Institute for Higher Education

Prof. Smitha Girija is a PhD in Retail Management with 17 years of experience. Her areas of interest includes Retail Management, Marketing Research and Advertising Management. She has been associated with IILM since 2012 and is currently the Director, PG Programme.

She is also actively involved in the curriculum development, faculty development programmes, Placements and other activities involving students. She has conducted workshops for junior and middle level managers of SME's in Customer Relationship Management and Integrated Marketing Communication. Her research work has been published with journals of national and international repute.