General description of course content and course goals

The aim of the course is to give students an insight into the practice of technology exploitation and innovation marketing. The technologies and product concepts are provided by so called idea providers. These idea providers may be, among others, researchers at universities and project teams working in research institutions with a technical invention or (prospective) entrepreneurs with a business idea.

Within the course the student teams will analyze the market potential of technology-based inventions or business ideas. They will define potential target customers in the market. Another important question to answer is, whether the market is still receptive for a given invention, or whether competitors have already exploited the full market potential. Finally, the student teams will also develop first ideas for the design of the marketing mix and write a report that is also handed to the idea providers.

Summarizing the most important contents

The students will find answers to the following fundamental questions:

• What are the key features of the invention?
• What is the unique selling point?
• What is the most attractive application field?
• Who are the target customers?
• What are their needs and how can they be met?
• What is the market potential of innovations?
• What resources are necessary to exploit this market potential?
• How can/should they enter the market?

Professional Competence

Knowledge

Students can...

• understand the process and the tools of market analysis for innovations (e.g. market potential, market growth, market segmentation)
• explain the concepts of target customers, market definition and market growth
• select the appropriate approach for leading a competitive analysis
• explain the key market-related issues (strengths and weaknesses) of technology-based business opportunities

Skills

Students are capable of...

• analyzing the market potential of inventions and innovative business ideas by using appropriate methods.
• investigating whether a market is still open for a given innovation and develop a first concept for the market entry strategy and the marketing mix.
• searching for relevant information (primary and secondary market data).
• analyzing, aggregating, and interpreting the gathered data and giving well founded recommendations based on the findings.
• writing a scientific report that includes the literature background as well as the development of their methods, their results, conclusions and recommendations.

Personal Competence

Social Competence

Students can...

• provide appropriate feedback and handle feedback on their own performance constructively.
• enter into a dialogue with formerly unknown fellow students, participate in discussions, and present well-grounded arguments.
• constructively interact with their team members and lead team sessions and group work processes.
• develop joint solutions and come to decisions in mixed teams and present the results to others.

Self-Reliance

Students are able to...

• assess possible consequences of their own decisions.
• define required tasks to find a solution for a given problem.
• make elaborated decisions in an real-world innovation context.
• assess their own performance in a team.