- Department: Electronic Engineering
- Module co-ordinator: Dr. Bidyut Baruah
- Credit value: 20 credits
- Credit level: M
- Academic year of delivery: 2023-24
The role of engineers has evolved a lot in recent times. Today engineers are required to be ingenious and have a good understanding of the various aspects of business acumen. They need to understand how to generate and process innovative ideas, understand the market and customer segment for these ideas and drive the commercial viability to make their ideas successful. This module is designed to introduce the various concepts of idea generation techniques and applications within an organization and the importance of marketing tools for the success of any innovation. It looks at organizational creativity and how innovative employees can be facilitated by using a variety of approaches for idea refinement and selection. Students will work on the development of a new business idea in the field of engineering, create a marketing plan and branding strategies for its intended customer segment and explore its overall commercial prospects by using an innovative concept testing tool.
|A||Semester 1 2023-24|
Subject content aims:
To introduce students to the various idea generation and analysis techniques.
To provide students with an understanding of marketing tools and strategies used for branding and promoting new technologies.
To explore the commercialisation of a new business concept in the field of engineering and produce a detailed business plan.
To conduct market research including data collection and testing on a new business concept.
To communicate a new business idea through an ‘elevator pitch’.
To explore and analyse the resources required, including finances, so as to exploit a potential market for this new business idea.
Graduate skills aims:
To develop skills in testing, critically evaluating and synthesising new information based on researched information and writing concise business portfolios and marketing plans appropriate for the target audience.
To develop Public Speaking skills – through formative workshop presentations/activities and through a summative elevator pitch.
To develop the ability to work in a team.
Subject content learning outcomes
After successful completion of this module, students will be able to:
Describe the importance of innovative marketing techniques in the field of engineering.
Use idea conception, development and communication – be able to generate, develop and communicate ideas to relevant stakeholders.
Use knowledge of, and experience using, relevant marketing tools to exploit the commercial prospects of a new business idea.
Analyse the competitive market environment and understand the critical issues of commercial exploitation of a new business idea including Intellectual Property Rights.
Understand and be able to construct cash flow forecasts, profit-loss and balance sheets.
Extract and critically evaluate information from reliable sources to construct a business plan for a specified audience.
Graduate skills learning outcomes
After successful completion of this module, students will:
Have an improved capacity for analysis and synthesis
Be better able to communicate their ideas
Be more creative in identifying opportunities
Be able to apply research outputs to real-world engineering issues
Understand the principles of innovation and marketing in the field of engineering
Be able to critically assess market gaps and apply innovative solutions
Apply techniques for strategic planning and creative thinking to a variety of situations
Have developed skills in problem solving, decision making, and entrepreneurship
Introduction to Marketing
Approaches to Marketing Research
New Product Development
Intellectual Property in Business
Financial accounting in new business
Power of Branding
Business Concept Testing and Analysis
Professional Business Plan
Sustainable Marketing Strategies
|Task||Length||% of module mark|
Essay : Individual report
There are three components in the module assessment:
As part of the ideation workshops, students will work in groups to create a creative poster on a topic
Students will work in groups to develop a new business idea in the areas of engineering and will present a group pitch.
This will be followed by an individual report which will be a detailed business plan on this business idea.
|Task||Length||% of module mark|
Essay : Individual report
Regular workshops allow you to engage with the course material and receive verbal help and feedback on the development of your new business idea.
Weekly activities/homework on the business development platform will help you to gain feedback on your understanding of the key module material covered in the lectures.
Emails to the Module Coordinator with Questions / Comments will be answered as soon as possible.
You will receive a customised feedback sheet, showing the marks breakdown for each of the key areas being assessed in this module along with a personalised feedback and suggestions for improvement. The School of PET will also endeavour to return all coursework feedback within 25 working days of the submission deadline. The School would normally expect to adhere to the times given, however, it is possible that exceptional circumstances may delay feedback. The School will endeavour to keep such delays to a minimum. Please note that any marks released are subject to ratification by the Board of Examiners and Senate. Meetings at the start/end of each term provide you with an opportunity to discuss and reflect with your supervisor on your overall performance to date.
P.Kotler, Marketing Management
J. Fahy and D. Jobber, Foundations of Marketing
G. Drummond and J. Ensor, Introduction to marketing concepts