Practicum on Innovation and Branding

Catalog description

Innovation is the process by which an organization generates creative new ideas and converts them into viable commercial products. Branding, on the other hand, is the process of creating a unique image for the product in the consumers’ mind. This perception reflects on the organization as a whole. Moreover, branding aims to establish a differentiated presence in the marketplace to attract and retain loyal customers. Thus, innovation and branding are inextricably linked for organizational success, or survival, in today’s hyper-competitive business landscape. This course aims to equip students with knowledge in both the innovation and branding processes. By participating in the International L’Oreal Brandstorm Competition, students will gain practical experience in formulating an idea, develop branding around said idea, and then pitching said idea (innovation and branding) in a competitive forum. Students will also develop an understanding of the role of design and innovation as a collaborative, multidisciplinary group activity; and improve writing and presentation skills. The course incorporates multiple ways of learning including: lectures, case studies, ethnographic research, industry expert feedback on projects and guest presentations, and design activities in the interactive media lab. In essence, the course integrates a project-based learning approach. Prerequisites: None. Fulfillment: IMB Business elective; BUSM Marketing Elective if Intro to Marketing has been taken, otherwise Non-finance/Non-marketing Elective.