MRKT13014 - New Product Development and Branding

General Information

Unit Synopsis

This unit aims to introduce theories and strategies of new product development and product management over its life cycle. In an increasingly competitive global market, the importance of developing and improving an existing or new product with a greater brand value is challenging. A new product development and its branding strategies require a substantial budget, time, institutional resources and collaboration. In this unit, you will learn the new product development processes, market appraisal and cost-benefit analysis of new product development and implementation. You will examine effective brand management processes and strategies to launch a new product. This unit will introduce a number of proven models and frameworks to analyse each of the stages of new product development processes, life cycle strategies, social challenges, brand equity models and brand strategies.

Details

Level Undergraduate
Unit Level 3
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2023

Term 1 - 2023 Profile
Brisbane
Melbourne
Online
Sydney

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).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Case Study 20%
2. Practical Assessment 40%
3. Report 40%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University’s Grades and Results Policy for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2022 : The overall satisfaction for students in the last offering of this course was 71.43% (`Agree` and `Strongly Agree` responses), based on a 19.44% response rate.

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.

Source: Unit evaluation
Feedback
Some students would like to communicate with the unit coordinator through scheduled weekly Zoom workshops that address weekly learning activities and to spend time discussing assessments.
Recommendation
Offer weekly Zoom workshops to address the weekly learning activities and to discuss assessments. All Zoom sessions are to be recorded and uploaded within 24 hours to the unit Moodle site for the benefit of those students who cannot participate.
Action Taken
A weekly Zoom workshop was run for DST and overseas students. These workshops were recorded and uploaded to the unit Moodle site within 24 hours.
Source: Unit evaluation
Feedback
Some students were receptive to the provision of assessment guidelines, marking rubrics, marking sheets, and exemplars.
Recommendation
Provide students with additional assessment support in the form of assessment guidelines, marking rubrics, marking sheets, and exemplars on the unit Moodle site.
Action Taken
Assessment guidelines, marking rubrics, mark sheets, and exemplars were made available to students through the unit Moodle site.
Source: Unit evaluation
Feedback
Some students requested additional weekly learning resources on the unit Moodle site.
Recommendation
Continue to add relevant and current case studies, readings, and videos to the weekly modules on the unit Moodle site.
Action Taken
Case studies, readings, and videos were added to each of the weekly modules on the unit Moodle site.
Source: Unit evaluation
Feedback
Some students were seeking additional weekly learning resources on Moodle.
Recommendation
Add relevant and recent case studies, readings, and videos to the weekly modules on the unit Moodle site.
Action Taken
Nil.
Source: Unit evaluation
Feedback
Some students wanted assessments with feedback returned sooner so that they can learn from it and improve before the next assessment is due.
Recommendation
All marked assessments with feedback to be returned to students within two weeks of submission.
Action Taken
Nil.
Source: Unit evaluation
Feedback
Some students valued having access to weekly recorded Zoom sessions.
Recommendation
Offer weekly Zoom workshops to address the weekly leaning activities and to discuss assessments. All Zoom sessions to be recorded and uploaded within 24 hours to unit Moodle site for the benefit of those students who cannot participate.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Assess the social and business challenges of new product development, and the importance of socially innovative products/services in an organisation
  2. Evaluate new product development processes, including product portfolio analysis, marketing planning models, cost-benefit analysis, and brand equity concepts
  3. Critically examine the factors contributing to success and failure of new product development
  4. Develop a new product development plan and branding strategies.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Case Study
2 - Practical Assessment
3 - Report
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
8 - Ethical practice
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Case Study
2 - Practical Assessment
3 - Report