Innovation in Marketing and Marketing of Innovation

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 MarketingINDUSTRY SUPPORT: All the types of Industries

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