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Innovation in Marketing and Marketing of Innovation

By Prof. Vinay Sharma   |   IIT Roorkee
Learners enrolled: 2171   |  Exam registration: 691
ABOUT THE COURSE:
This course brings together the fields of marketing and innovation in an integrated subject that enables students, executives, entrepreneurs and all others who are inquisitive about innovation in marketing and marketing of innovation to develop an insight and to practically use it. It is curated to provide conceptual as well as practical knowledge of both ‘innovation in marketing’ and ‘marketing innovation’. The idea is to unfold the intricacies of innovation in the light of marketing and intricacies of marketing in the light of innovation.

INTENDED AUDIENCE: Students and Practitioners who wish to foresee innovative marketing through concepts and examples related to Marketing of Innovation and Innovation in Marketing

INDUSTRY SUPPORT: All the types of Industries
Summary
Course Status : Completed
Course Type : Elective
Language for course content : English
Duration : 12 weeks
Category :
  • Management Studies
Credit Points : 3
Level : Undergraduate/Postgraduate
Start Date : 22 Jan 2024
End Date : 12 Apr 2024
Enrollment Ends : 05 Feb 2024
Exam Registration Ends : 16 Feb 2024
Exam Date : 27 Apr 2024 IST

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.


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Course layout

Week 1: Innovation in Marketing
  • Need of innovation in Marketing?
  • What Is Marketing Innovation? 
  • Innovative perspective about 4Ps for Innovation (Marketing Mix) 
  • The Innovators Dilemma 
  • Go to market strategy
  • Innovative Marketing Strategies 

Week 2: Innovation in Marketing Strategies
  • Targeting: Evolutionary Perspective
  • Changes in Consumer behavior
  • Innovation in positioning techniques. Perspective of positioning.
  • Case Study

Week 3: Innovation in Products and Services (Management of Product and Services)
  • Changing Concept in marketing of products and services
  • Innovation in Services Marketing
  • Innovation in other product elements and Marketing
  • Innovation in Branding, Methods, Value Chain and Evaluation
  • Influence of product and services innovation on marketing mix

Week 4: Innovation in Pricing
  • What is innovation in Pricing?
  • Innovative Pricing strategies
  • Factors affecting Pricing Innovation
  • Influence of pricing innovation on marketing mix
  • Case Study

Week 5: Innovation in Delivering
  • Innovation in Distribution channels
  • Innovation in Channel Management
  • Innovation in Retailing
  • Influence of channel management innovation on marketing mix

Week 6: Innovation in Media and Marketing Communication
  • Innovation in Marketing Communication
  • Innovation lead IMC 
  • Advertising Trends
  • Integrated Marketing Communication: Media Advertising, Direct Marketing, Sales Promotion, Public Relations, Telemarketing, Personal selling and other Support Medias.
  • Digital Marketing: Search Engine Marketing, Online Marketing, Web 2.0 and Web 3.0 Technologies, Viral Marketing, Mobile marketing, Search Advertising Marketing, Marketing in Virtual reality Environment (AR &VR)
  • Website Development: Web Design, Building Site Traffic, Geo-Mapping
  • Influence of IMC innovation on marketing mix
  • Case Study

Week 7: Innovation in Value Creation
  • Co–creation of value and value co-creation
  • Innovation and value chains 
  • Beyond the business world
  • Case Study

Week 8: What is Marketing of Innovation?
  • Is it the new products/new usage/new services/new perspective?
  • What Does Marketing Research say about Marketing of Innovations?
  • Does it require a fundamental change of thought process?
  • Does marketing of innovation always requires a foreseen role of IT/AI?

Week 9: Introduction to Innovation 
  • What is Innovation?
  • Enablers of Innovation
  • Principles of Innovation  
  • Strategy & Innovation 
  • Why great innovation needs great marketing?
  • Marketing and innovation -inseparable 

Week 10: Understanding consumers
  • Consumer behavior
  • Theory of diffusion of Innovation 
  • Consumer Adoption Patterns
  • Consumers resistance to innovation

Week 11: Product Innovation 
  • Product Life Cycle
  • Innovation in Product Design
  • New Product Development
  • Marketing of innovative products
  • Branding of innovation
  • Marketing of innovation in service industry
  • Targeting the right consumers and positioning innovative products

Week 12: Monetizing and Delivering innovation 
  • Monetizing innovation 
  • Success stories 
  • Overall visualization of Marketing of Innovation

Books and references

1. Kotler, Philip. ( 2000). Marketing management. Upper Saddle River, N.J. :Prentice Hall
2. Kotler, P., & Keller, K. L. (2012). Marketing Management, 14e, Global Edition. Inggris: Pearson.
3. Kartajaya, H., Kotler, P., & Hooi, D. H. (2019). Marketing 4.0: moving from traditional to digital. World Scientific Book Chapters, 99-123.
4. Kotler, P., Kartajaya, H., & Setiawan, I. (2021). Marketing 5.0: Technology for humanity. John Wiley & Sons.
5. Kotler, P., Keller, K. L., Manceau, D., & Dubois, B. (2016). Marketing Management, 15e édition. New Jersy: Pearson Education.
6. De Bes, F. T., & Kotler, P. (2011). Winning at innovation: the A-to-F model. Palgrave Macmillan.
7. Trott, Paul (2011). Innovation Management & New Product Development, Prentice Hall, Pearson
8. Mohr, J. (2011). Marketing of high-technology products and innovations. Pearson Education India.
9. C.K. Prahalad, M.S. Krishnan, C.K. Prahalad, M.S. Krishnan (2008), The New Age of Innovation: Driving Cocreated Value Through Global Networks, McGraw Hill Education

Instructor bio

Prof. Vinay Sharma

IIT Roorkee
Prof. Vinay Sharma is a Professor with the Department of Management Studies and a Joint Professor with Department of Design at Indian Institute of Technology (IIT) Roorkee, a 177 Years globally known Institution. He has around 30 years of Experience, in the areas of Strategic Management, Business Opportunity Development, Market Development, Marketing, Integrated Marketing Communication, Product and Brand Management, Innovation and Design Thinking, Brand Development, IT enabled Services, Spiritual Orientation for Market Prosperity Development, Forest Bio residue-based Energy as a practitioner and Teaching for past Twenty-two years.

His recent book “Stop Predicting – Revisit Life: Lessons from Covid-19" published by Bloomsbury India, was a global release and has been received very well. His other book publications include 'Masters Speak on Management Education' in India, published by Bloomsbury India and ' Affordability for the Poor and Profitability for the Provider' wherein he has designed and proposed a specialized model acknowledged at various platforms. 
He has guided 12 PhDs, and a Post-Doctoral Research and 8 PhDs are being pursued. He has considerable experience of working with various organizations in the fields of Media, Information Technology and Social Development along with having worked with one of the largest read newspapers. One of his recent PhD projects, wherein he guided an IFS officer for developing a forest bio-residue briquetting machine to develop a value chain for household energy generation for the forest users of North-West-Himalayan region is in the phase of implementation and has been considered as a success story by NMHS (the project funding organization). Vinay Sharma has been teaching Strategy, Marketing and the allied subjects, at various prestigious institutions. He has contributed an Appendix on Rural Marketing in the 13th edition of Philip Kotler's Principles of Marketing.

He was an associate and a member of the founding group of the Network of Asia Pacific Schools and Institutes of Public Administration, and Governance constituted by Asian Development Bank in December 2004. He has published and presented around 85 papers, Chaired sessions at National and International platforms, developed and published 16 case studies based on primary research and has conducted more than 150 workshops, seminars, FDPs and MDPs for CEOs and MDs along with senior executives. He is a member of the Editorial Board of several prestigious journals and is also a member of academic and advisory councils and Board of Management of prestigious institutions and bodies. He has also been a working group member of Ganga River Basin Environment Management Plan, a Pan IIT project.

He has three courses floating on NPTEL platform, wherein “Integrated Marketing Communication” and “Product and Brand Management” have been received well and a joint course titled “Innovation, Business Models and Entrepreneurship” has been running for several years with around 50,000 registrations in totality. He has recently launched a new course in the platform titled “Innovation in Marketing and Marketing of Innovation”.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.
The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).
Date and Time of Exams: 27 April 2024 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.
Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 8 assignments out of the total 12 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Roorkee. It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team


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