Course overview
The aim of this course is to equip students to demonstrate advanced and integrated understanding in the complex field of entrepreneurial commercialisation, to demonstrate the ability to analyse and evaluate commercialisation situations, and to plan and execute professional project-based research in this field, with the aim of developing a realistic commercialisation and marketing plan for a new venture, whether in the for-profit sector, or in the field of social entrepreneurship. Students will be able to interpret and transmit knowledge relating to practical commercialisation to specialist and non-specialist audiences. Commercialisation models and processes; models of marketing for new-to-the-market ventures; evaluating the product or service idea and identifying possibilities for product or service development; investigating potential market demand; developing a distribution and pricing framework for commercialising the product or service into a new market; creating a communications program with a particular emphasis on Internet-based technologies and social media; putting together a credible commercialisation and marketing budget and plan to enter the new market.
Course learning outcomes
- Explain at an advanced level the principles and practices of entrepreneurial commercialisation
- Analyse and evaluate business and market changes to identify and develop entrepreneurial commercialisation opportunities
- Analyse and present solutions to complex problems faced in the development of a commercialisation and marketing plan for a new venture
- Present knowledge, skills and ideas contained in a commercialisation and marketing plan both verbally and in writing
- Engage in self-directed work in exploring new commercialisation possibilities