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New products are developed to explore new market opportunities, and existing products are revised and updated to exploit existing market opportunities. These product-related exploration and exploitation activities are an important value-driver for organisations as markets become price competitive and saturated. In this subject, the management process of positioning, developing and promoting new and existing products is studied. Analytic methods that can reduce development risk and improve innovation are also considered. Strategies for how to combine a suite of products that complement each other in product portfolios are also examined.
Intended learning outcomes
Apply the basic tools used in product management
Students will develop the following generic skills through the activities designed into this subject (essay, group presentation, comprehensive case analysis, participation in tutorial discussions, note taking and participation in lectures); critical thinking about product strategies in marketing settings; oral and written communication; problem solving and collaborative learning and synthesis of data and other information
Last updated: 7 September 2023