Firms are paying more attention to the development of new products and services to enhance their market position. Commercialising innovative products and services on a timely basis is a key to not only profit but in some industries, survival. However, despite the significant investment in screening and developing new products and services, statistics reflect continuing high failure rates. This underscores the need for better management of new product and service commercialisation. This unit will develop your knowledge of how new product and new service development creates value for a firm and its stakeholders. It will focus on new product and service commercialisation from a strategic perspective, emphasising the development of knowledge of the strategic foundations for new product and service development. These foundations comprise the sources for product and service innovation, the timing of market entry, competition and product market issues, market adoption, developing new service bundles, and strategies for marketing new products and services.
|Unit name||New Product and Service Development|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Coordinator||Doctor Gauri Laud|
|Delivered By||University of Tasmania|
|Location||Study period||Attendance options||Available to|
- International students
- Domestic students
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|Study Period||Start date||Census date||WW date||End date|
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2024 are indicative and subject to change. Finalised census dates for 2024 will be available from the 1st October 2023. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
- Critically evaluate the theories and concepts of innovation and new product and service development and apply them to practice.
- Research market opportunity and plan commercialization strategies for a new product and service in context of dynamics of market entry timing and potential trajectory for market development.
- Plan commercialisation strategies and develop implementation plans for new product and service development.
- Develop implementation plans for new product and service launch.
|Field of Education||Commencing Student Contribution 1,3||Grandfathered Student Contribution 1,3||Approved Pathway Course Student Contribution 2,3||Domestic Full Fee 4|
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
PrerequisitesIt is strongly recommended that you complete BMA506 Foundations of Marketing and BMA604 Consumer Decision making before undertaking this unit to ensure you have the necessary level of knowledge to successfully complete assessments.
You cannot enrol in this unit as well as the following:BMA608
Introduction Lecture: 1hr, once in a term
Weekly recorded lecture: 1hr, 13 weeks
Workshop: 3hrs, 4 times in a semester
|Assessment||Essay – New Product Failure (25%)|Workshop activities -Individual and Group (35%)|New Product Pitch and Proposal (40%)|
|Timetable||View the lecture timetable | View the full unit timetable|
You will need the following text: Crawford, C.M. and Di Benedetto, A 2015, New products management, 11th edn, Boston: Irwin/McGraw – Hill Series in Marketing.
Kahn, K.B., 2012. The PDMA handbook of new product development, John Wiley & Sons.
Mohr, J, Sengupta, S & Slater, S 2010, Marketing of high technology products and innovations, 3rd edn. Prentice Hall, New Jersey.
Pervaiz, K.A. and Shepherd, D.C., 2010. Innovation management, context, strategies, systems and processes, England: Pearson Education Limited.
Tidd, J & Bessant, J 2013, Managing Innovation: Integrating Technological, Market, Organizational Change, 5th edn, Wiley, New York.
Trott, P 2012, Innovation Management and New Product Development, 5th edn. Pearson Education Limited, Essex.
|Links||Booktopia textbook finder|
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