|Position in the Curriculum||Module|
|Type||Lecture and Problem-Based-Learning|
|Credit Points||6 ECTS|
|Target group||Students of Industrial Engineering Management, Logistik, Infraktruktur und Mobilität, Medical Engineering and Global Innovation Management|
|Contact person||Emil Herrling|
The winter semester has just come to an end, but the next semester is just around the corner. We would therefore like to invite you to apply for the Module Marketing that our institute is offering next semester to IWI, MEM, GIM and MedIng students. Since the module will be restricted to 30 students, you need to apply for access (see information below).
The Module Marketing will provide the opportunity to broaden and deepen your know how in the market-oriented management of innovations both, in product and service markets. You will learn about how to make appropriate strategic decisions, how to forecast future market developments, how to use the creative power of users, how to use data about customers and competitors available in the internet, how to develop innovations according to customer needs, and how to introduce and sell innovations successfully.
The module will offer a balanced mix of lecture elements and interactive elements. You will have the opportunity to solve real marketing problems, to understand how academic research on marketing topics works, to discuss with guest speakers from industry, and to present your ideas about real business cases. The module also consists of two longer PBL-sessions. The first is on scenario planning and the second PBL will give you the opportunity to do a computer-based marketing simulation in teams. The module exam makes 50% of the final grade. The rest is defined by your participation!To ensure a high coaching quality, the Module Marketing (SoSe 2020) is restricted to 30 students. In order to participate, you have to apply by sending the following documents/information:
- Name, matriculation number, study program, semester, B2B grade (if attented)
- Please write a one-page text on the following task:
Digitalization is affecting all industries and all business functions. Marketing and Sales is of course no exception.
a. Please outline what you consider as the most attractive and promising applications and use cases of digitalization in the field of marketing and sales. Where do you see the biggest potential for the implementation of digital technology?
b. Please identify a company that is very advanced and innovative in the area of application you described before and describe how they are exploiting the potential of digital solutions.
You will get further information about the all dates and content as soon as we have more information.
We are looking forward to your application!
General description and course goals
The challenges for innovating firms in dynamic markets are tremendous. An increasing heterogeneity of demand and a rapid change of preferences redefine the business everyday. In order to reduce the risk of failure, researchers and practitioners concordantly recommend to better aligning design and marketing activities with the needs of actual and potential customers. In this sense, staying innovative means continuously adjusting and adapting your customer approach to meet changing and heterogeneous market expectations.
The first objective is to familiarize students with the challenges inherent in generating and launching substantial innovations on the basis of proactive market orientation. The second objective is to equip participants with a variety of contemporary methods and tools to develop deeper insights into promising customer value propositions and to transform these insights into concepts, prototypes and products that meet the demand of future markets. The third objective is to increase the participants’ knowledge with respect to effective market launch and sales of new products and services. This refers to communicating, pricing and selling new market offers. The fourth objective is to enhance the participants’ practical skills in making appropriate market-related decisions (particularly segmentation, managing the marketing mix) and developing plans for market research, market entry and/or market campaigns.
Students will gain a good overview of the following topics:
- Strategic marketing (importance of innovative products and services, model, objectives and examples of innovation marketing)
- Patterns of industrial development, patent and technology portfolios
- Objectives and challenges of strategic foresight, scenario analysis, Delphi method
- Perceptual Maps, Gap Model
- User innovation (role of users in the innovation process, user communities, user innovation toolkits, lead users analysis)
- Concept Development (Conjoint, Kano, QFD, Morphological Analysis, Blueprinting)
- Basics of Pricing, Price Window, Pricing of new Products
- Basics of Sales Management, Assessing Customer Value, Planning Customer Visits
- Diffusion of Innovations, Communication Objectives, Communication Grid
- Anderson et al. (2006): Customer value proposition in business markets. Harvard Business Review. 84 (March).
- Chesbrough, H. / Vanhaverbeke, W. / West, J. (2006): Open Innovation: Researching a New Paradigm. Oxford University Press, Oxford.
- Churchill, G. / Ford, N. / Walker, O.. (2010): Sales Force Management. 10th Edition, McGraw-Hill, Berkshire.
- Gruenwald, G. (1997): How to create profitable new products – from mission to market. McGraw-Hill, Berkshire.
- Hair, J. F. / Bush, R. P. / Ortinau, D. J. (2009): Marketing research. Fourth Edition, McGraw-Hill, Berkshire.
- Lovallo, D., Kahnemann, D. (2003): Delusions of Success: How Optimism Undermines Executives' Decisions. Harvard Business Review, 81 (July), p. 56-63.
- Lovelock, C. / Wirtz, J. (2009): Service marketing. Sixth Edition, Pearson, London.
- Mohr, J. / Sengupta, S. / Slater, S. (2010): Marketing of High-Technology Products and Innovation. Third Edition, Pearson, London.
- Schilling, M. (2008): Strategic Management of Technological Innovation. Third edition, McGraw-Hill Higher Education, Berkshire.
- Von Hippel, E. (2005): Democratizing Innovation. MIT Press, Cambridge.
- Von Hippel, E. (2017): Free Innovation. MIT Press, Cambridge.