Summary Overview Product innovation in marketing 2023/2024
51 views 1 purchase
Course
Product innovation in marketing (2118TEWMKT)
Institution
Universiteit Antwerpen (UA)
This document contains all questions and answers for the exam in June 2024 for Product innovation in marketing (by Prof. dr. Annouck Lievens). It is structured by chapter (from 1 to 7) and ends with the answers to the guest speakers. You may DM me for a lower price as well, I respond fast.
, Chapter 1: Introducing Product Innovation for Marketing
Question 1
Explain how innovation theory forms a new approach for marketing on the one hand
and elaborate on how marketing theory can fuel innovation success.
Innovation theory as a new approach for marketing: traditionally… employed by businesses/
scholars to describe and understand the extent to which innovations can be successfully
managed and engaged within an organization facing environmental changes.
Includes:
ð Innovation classifications (radical vs incremental)
ð DiAusion of innovations
ð Life cycle & adoption of innovations
Marketing theory fuels innovation success: Businesses need marketing insights to manage
emerging technologies (like social media, AR, AI, mobile apps…) that can address consumers’
desire to enjoy more engaging experiences in omnichannel environments (shopping,
product/brand & service).
Challenges:
ð Select innovative eAicient solutions/stimuli that fit consumers’ expectations and
organizational purposes.
ð Designing new, more cost-eAective, customized and superior customer experiences,
handling multiple channels.
ð Willingness to accept as a marketing focus should be extended to an innovation
process perspective.
ð …
Examples:
• Well-known uses of AI: Siri, Tesla (self-driving), Netflix, Google Nest (uses generative AI
& improves itself continuously), Alexa…
• Biofeedback technologies: Those technologies that are able to automatically recognize
psychophysical, physiological and direct brain activity, such as electrodermal activity,
pupil size, brainwaves, etc.
• Neuromarketing: The intersection of marketing, economics, psychology and
neuroscience through the development of more scientific measurements to be used by
marketers to take uncertain strategic decisions.
Written by Rani Boons pag. 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller raniboons. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.83. You're not tied to anything after your purchase.