Students
MKTG8051 – New Product and Service Commercialisation
2023 – Session 1, Online-scheduled-weekday
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Coordinator
John Parker
Contact via Contact via email
Wednesday 9-10am
|
|---|---|
| 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 Assessment Submission Penalty (written assessments)
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Quiz | 15% | No | Weeks 3-10 and Weeks 12-13 |
| New product or service (i.e. innovation) recorded pitch presentation | 20% | No | Week 9 |
| New product or service commercialisation project | 45% | No | Week 13 |
| Practice-based activities | 20% | No | Weks 3-12 |
Quiz
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 11 hours
Due: Weeks 3-10 and 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
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
Practice-based activities
Assessment Type 1: Participatory task
Indicative Time on Task 2: 8 hours
Due: Weks 3-12
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
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 to 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:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
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.
- Workshops
- Chat with a WriteWISE peer writing leader
- Access StudyWISE
- Upload an assignment to Studiosity
- Complete the Academic Integrity Module
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:
- IT Support
- Accessibility and disability support with study
- Mental health support
- Safety support to respond to bullying, harassment, sexual harassment and sexual assault
- Social support including information about finances, tenancy and legal issues
- Student Advocacy provides independent advice on MQ policies, procedures, and processes
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 2023.01R of the Handbook