Ideation, Business Model, Road Map & Launch Plan

Learning Outcomes: Knowledge and Understanding tested in this assignment:

• Develop a critical understanding of the role and processes of strategic marketing planning in the creation of value and/or competitive advantage for an organisation.
• Evaluate how marketing tactics should be adjusted depending on context of the organisation, factors in the environment, segmentation, customer personas and consumer behaviour.
• Critically appraise the role and processes of innovation and business model development to create new ventures, products and services in response to grow the opportunities.
• Synthesize evidence within the market environment in the context of contemporary issues including digital transformation, marketing ethics and sustainability

Learning Outcomes: Skills and Attributes tested in this assignment:

(Please note that this individual report must build on/ link to the group market report already submitted.  Although you are expected to use the group report to write this report, this report is individual.  That means its contents must be your own work – you may not discuss or share work for this individual report with anyone.  Your product/ service idea must be your own and cannot be the same as any of your group members – or anyone else on the module.  It is expected that this new product/ service will be based on your group’s chosen company (Group Market Report).

Description of the assignment:

• Integrate and apply academic concepts and literature, and secondary research in the context of a strategic marketing plan.
• Evidence a range of entrepreneurial skills through a new venture or new product/service development project including team working, ideation, innovation, evaluation, communication and persuasion.
• Justify financially viable business models, launch plans and roadmaps that will deliver sustained growth in response to clearly identified market opportunities.
• Critically evaluate key issues using academic concepts and literature.

Feedback /Marking criteria for this Assignment

Performance will be assessed using HBS Grading Criteria and Mark scheme.
Guidance for improvement will be given in writing on the Assessment Feedback Form or on the StudyNet Feedback Form within 4 weeks of submission. For each day or part day up to five days after the published deadline, coursework relating to modules submitted late will have the numeric grade reduced by 10 grade points until or unless the numeric grade reaches 40 for levels 4, 5 and 6 or 50 for level 7 (PG).  Where the numeric grade awarded for the assessment is less than 40 for level 4, 5 and 6, or 50 for level 7, no lateness penalty will be applied.  However, if a submission is more than 5 working days after the published deadline, a grade of zero will be awarded.

Use your group’s market report to construct and facilitate your individual ideation process, collect results, and write up an individual report on a new product/service and the existing company within the UK social enterprise industry/ third sector.  This must be a brand-new product/ service that does not already exist within the chosen company.  Please note that the Tutors will check to see if your chosen product/ service already exists or not.  So, the product/ service cannot be something that the company already has.

Decide on which tools and techniques you wish to use to help with your ideation process:

• Mind-mapping
• Mood boards etc
• Collect research, literature, and evidence.

Think about the organisation:

• Company values
• What makes the brand?
• What is your competitive advantage?
• Innovations
• What have other companies in your sector done? What does your research show?
• You will be expected to write up your ideation process and evaluation using relevant theory and frameworks.

Data collected as part of your evaluation can be added as a referenced appendix to your submission.

Next, you will be expected to develop your business model, detail the launch plan and recommend the method which you will use to pitch for investment.

You must show how you will monitor and measure success of the launch.

Within this section you may wish to consider some of these headings:

• Business Model: what is your business model canvas (this will be a new product service plan rather than a full business plan)
• Value Creation: how are you planning to achieve this?
• Detailed Launch Plan: explain & detail your plan using marketing frameworks.
• Investment Pitch: who will you pitch to/how much will you ask/do you have the evidence to back up your claims. Detail the pitch – but make it new product/ new service specific.