Students

MKTG8051 – New Product and Service Commercialisation

2022 – Session 1, Online-scheduled-weekday

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Coordinator
John Parker
john.parker@mq.edu.au
Contact via Email
Tuesday 5 - 6 pm.
Credit points Credit points
10
Prerequisites Prerequisites
Admission to MMktg
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

In dynamic business environments, where customers’ needs change rapidly and competition is intense, developing and launching new products and services that create and maintain a superior market position for a firm is a key success factor. Developing and launching new products addresses the commercialisation process within firms. Despite the significant investment in screening and developing new products and services, statistics reflect continuing high new product/service failure rates worldwide. This highlights the need for managing the commercialisation process of new products and services effectively.

The focus of this unit is on developing students’ knowledge of new product and service commercialisation. In this unit, students will develop skills to create new product and service concepts and analyse factors that impact commercialisation decisions and outcomes. The unit will also focus on developing students’ capacity to formulate and apply commercialisation strategies for new products and/or services.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

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

  • ULO1: Analyse and apply theories, models, and concepts underpinning new product and service commercialisation
  • ULO2: Critically evaluate and create new product and service opportunities, ideas, concepts and projects
  • ULO3: Analyse and appraise factors that impact new product and service commercialisation decisions and outcomes
  • ULO4: Formulate and plan effective commercialisation strategies for new products and/or services

General Assessment Information

Late submissions of assessments Unless a Special Consideration request has been submitted and approved, no extensions will be granted. There will be a deduction of 10% of the total available assessment-task marks made from the total awarded mark for each 24-hour period or part thereof that the submission is late. Late submissions will only be accepted up to 96 hours after the due date and time.

No late submissions will be accepted for timed assessments – e.g., quizzes, online tests.

Table 1: Penalty calculation based on submission time

Submission time after the due date (including weekends)

Penalty (% of available assessment task mark)

Example: for a non-timed assessment task marked out of 30

< 24 hours

10%

10% x 30 marks = 3-mark deduction

24-48 hours

20%

20% x 30 marks = 6-mark deduction

48-72 hours

30%

30% x 30 marks = 9-mark deduction

72-96 hours

40%

40% x 30 marks = 12-mark deduction

> 96 hours

100%

Assignment won’t be accepted

 

Special Consideration To request an extension on the due date/time for a timed or non-timed assessment task, you must submit a Special Consideration application. An application for Special Consideration does not guarantee approval.

The approved extension date for a student becomes the new due date for that student. The late submission penalties above then apply as of the new due date.

Assessment Tasks

Name Weighting Hurdle Due
Quiz 15% No Weeks 2-9 & Weeks 12-13.
New product or service (i.e. innovation) recorded pitch presentation 20% No Week 9
Practice-based activities 20% No Weeks 2-11
New product or service commercialisation project 45% No Week 13

Quiz

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 11 hours
Due: Weeks 2-9 & Weeks 12-13.
Weighting: 15%

 

Students will do 10, quizzes during the course of semester. Each quiz last 10 minutes, has 10 questions and each quiz is worth 15 marks. Quizzes will allow students to improve their individual knowledge and get ready for joining the workshops and participate in discussion. The final mark for the quiz would be the average of 10 quizzes during the course of semester.

 
On successful completion you will be able to:
  • Analyse and apply theories, models, and concepts underpinning new product and service commercialisation
  • Critically evaluate and create new product and service opportunities, ideas, concepts and projects
  • Analyse and appraise factors that impact new product and service commercialisation decisions and outcomes
  • Formulate and plan effective commercialisation strategies for new products and/or services

New product or service (i.e. innovation) recorded pitch presentation

Assessment Type 1: Presentation
Indicative Time on Task 2: 18 hours
Due: Week 9
Weighting: 20%

 

This assessment will assess students’ aptitude to formulate and design a feasible innovative product and service concept. This assessment focuses on students’ capability to communicate their new product/service idea and defend it verbally with the support of visual aids. A scenario will be placed on iLearn. Students will follow the scenario. 15 minutes

 
On successful completion you will be able to:
  • Analyse and apply theories, models, and concepts underpinning new product and service commercialisation
  • Critically evaluate and create new product and service opportunities, ideas, concepts and projects
  • Analyse and appraise factors that impact new product and service commercialisation decisions and outcomes
  • Formulate and plan effective commercialisation strategies for new products and/or services

Practice-based activities

Assessment Type 1: Participatory task
Indicative Time on Task 2: 8 hours
Due: Weeks 2-11
Weighting: 20%

 

In-class activities allows students to engage in discussions and share their thoughts, helps them articulate and communicate their point of view, and develop not only their own knowledge, but also assist their classmates to gain a better understanding of the topic. The activities focus on discussions questions, mini-case analysis, critical thinking and problem-solving activities. Length – ongoing

 
On successful completion you will be able to:
  • Analyse and apply theories, models, and concepts underpinning new product and service commercialisation
  • Analyse and appraise factors that impact new product and service commercialisation decisions and outcomes
  • Formulate and plan effective commercialisation strategies for new products and/or services

New product or service commercialisation project

Assessment Type 1: Project
Indicative Time on Task 2: 35 hours
Due: Week 13
Weighting: 45%

 

This assessment is linked with presentation assessment. It assesses students’ skills to build on reliable technical and market-related data and facts, and communicate their new product/service concept in the form of a formal business report. The new product /service commercialisation project focuses on providing students with experience in the new product/service commercialisation process. The project focuses on market/industry analysis, concept generation, design, prototyping, testing, and marketing for the new product or service. Based on their market/industry analysis and opportunity evaluations, students are required to develop a product/service concept and propose commercilisation strategies for their product/service. 2000 words

 
On successful completion you will be able to:
  • Analyse and apply theories, models, and concepts underpinning new product and service commercialisation
  • Analyse and appraise factors that impact new product and service commercialisation decisions and outcomes
  • Formulate and plan effective commercialisation strategies for new products and/or services

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Writing Centre for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

ONLINE DELIVERY: 1-hour online recorded lecture on a weekly basis plus a 2 hour online weekly workshop.

Students are expected to review the lecture material, complete the readings, watch any video content and prepare the discussion questions in advance of the weekly workshop.

TEXTBOOK: Trott, P. (2016) Innovation Management and New Product Development , 6th Edition,  Pearson: ISBN – 9781292133423.

READINGS: Additional Weekly readings are available on ilearn under each weekly module.

Unit Schedule

Please refer ilearn

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Unit information based on version 2022.03 of the Handbook