Overview
This unit aims to introduce theories and strategies of new product development and product management over its life cycle. In today's competitive global marketplace, the challenge of developing and enhancing new or existing products is significant. Successful new product development and marketing require a considerable investment of budget, time, resources, and collaboration. Throughout this unit, you will explore the social and business challenges associated with new product development and understand the vital role of socially innovative products and services within an organisation. You will also engage in market appraisal and conduct cost-benefit analysis for new product development and implementation. Additionally, you will analyse effective marketing strategies for launching new products. This unit will present a variety of established models and frameworks to evaluate each stage of the new product development process, as well as life cycle strategies and innovative marketing approaches.
Details
Pre-requisites or Co-requisites
Pre-requisite: MRKT11029 Fundamentals of Marketing.
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2027
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Academic Progression Policy and Procedure
- Student Refund and Credit Balance Policy and Procedure
- Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Unit evaluation
Some students appeared to lack an understanding of the knowledge and skills they would gain in the unit, as well as its relevance to their degree.
Emphasise the knowledge and skills that will be gained in the unit, as well as its relevance to their degree, in the welcome message on the unit Moodle website before the term begins.
Feedback from Unit evaluation
Some students stated they would like to see more updated unit content on the Moodle site.
Recent journal articles, readings, and industry case studies will be added to the unit Moodle website to replace older, outdated content as needed.
Feedback from Student feedback
Some students appreciated interacting with the unit coordinator during scheduled weekly Zoom workshops that focused on weekly learning activities and provided an opportunity to discuss assessments.
Schedule at least one weekly Zoom workshop to cover the learning activities and discuss assessments. All Zoom meetings will be recorded and made available on the unit Moodle website within 24 hours. This will assist students who are unable to attend.
Feedback from Student feedback
Some students were receptive to the provision of assessment guidelines, exemplars, marking rubrics, and mark sheets.
Provide students with additional assessment support in the form of assessment guidelines, exemplars, marking rubrics, and mark sheets through the assessment tile on the unit Moodle website.