Innovation Marketing
Position in the Curriculum Module
Type Project Seminar
Term Winter term
Language English
Credit Points 6 ECTS
Target group Global Technology and Innovation Management & Entrepreneurship and International Management and Engineering
Level Master's course
StudIP Link
Contact person Amanda Baum

General description and course goals

The aim of the course is to give students an insight into the practice of technology exploitation and innovation marketing. The technologies and product concepts are provided by so called idea providers. These idea providers may be, among others:

  • Researchers at universities and project teams working in research institutions with a technical invention
  • Entrepeneurs/ StartUps
  • Corporates/ Consulting firms with an innovative business challenge or data project

Within the course the students are split in small teams. Each team is allocated an idea provider for whom it will analyzethe market potential of technology-based inventions or business ideas. They will , for instance, define potential target customers in the market. Another important question to answer might be, whether the market is still receptive for a given invention, or whether competitors have already exploited the full market potential. Finally, the student teams will also develop first ideas for the design of the marketing mix and write a report that is also handed and presented to the idea providers. Due to the practical orientation there is no exam

Tools

Tools depend on case of idea providers however, can vary from market analysis frameworks to data analytic tools (e.g. SPSS, R etc.)

Contents

The students will find answers to the following fundamental questions:

  • What are the key features of the invention?
  • What is the unique selling proposition?
  • What is the most attractive application field?
  • Who are the target customers?
  • What are their needs and how can they be met?
  • What is the market potential of innovations?
  • What resources are necessary to exploit this market potential?
  • How can/should they enter the market?

Selected Literature

  • Gruber, Marc, Ian C. MacMillan, and James D. Thompson (2008): Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms. Management Science, 54(September), 1652-1665.
  • Danneels, Erwin (2007): The Process of Technological Competence Leveraging. Strategic Management Journal, 28(February), 511-533.