Individual Written Report
Assessment: Individual Report
Individual Written Report 2000 Words – Summary
Students will be required to identify and critically characterise an entrepreneurial new product in either the
1. entertainment/event or
2. CPG/FMCG industries, or
3. a service innovation within the Hospitality sector.
The report will detail the
1. the characteristics of the service/product, the market targeted,* a critique on the providers of this product or service,
*full details of the targeted market are required
2. and discuss its sustainability within the current business environment.
3. The new product/service should already be commercialized and should have been launched in the recent past, i.e. within the approximate timeframe of the past 4 years, but in any event, no examples of the above that have been introduced to the market less than 3 years ago and no new product/services that were launched more than 5 years ago.
After selecting the product or service based on the criteria above students are required to address the three sections below:
Section A 30% of Final Mark CONCEPT : Description, analysis and critique of the Product/Service discussed, including unique value proposition, branding, positioning, differentiation efforts, marketing mix and marketing research and insight
Section B 35% of Final Mark Industry Market Analysis (discuss using entrepreneurial secondary literature the importance of an Industry Market analysis then answer the questions below regarding the chosen product or service)
1. Discuss the target market for the new product/service using established market segmentation methods.
This also requires commenting on whether any competitors targeted their offering to the same or a different target market.
Targeting may have a significant effect on an innovations performance in the market.
How did the product/service differentiate itself from competitive offerings?
2. Critique the marketing of the product/service.
This can include, but is not limited to, distribution channels, marketing communication channels selected (online, offline or both) chosen for the launch of the product/service, pricing, timing of the launch, etc. How well was the products/services unique value proposition communicated to consumers, using appropriate distribution and marketing communication channels and did consumers clearly recognize the value of the innovation? If yes, why and if no, why not?
Section C 35% of Final Mark
Product/Service Analysis (discuss using entrepreneurial secondary literature the importance of The Product/Service analysis then answer the questions below regarding the chosen product or service) 35% of final mark
1. Further, discuss the sustainability of the innovation, i.e. how well or how poorly was it received by target market, i.e. was the resulting growth (revenue) sustainable and how does the innovation continue to add value to ALL stakeholders today?
2. What if any, barriers to entry did the providers create to prevent early imitators?
3. What are/were the characteristics responsible for the innovations long-term success or failure? Please discuss the key factors that contributed in important ways to the ultimate success or failure of the innovation?
General Guidelines Students are required to present their work according to the prescribed Report writing guidelines contained in the Core Academic Skills Guide available on Moodle. The instructor will then provide constructive feedback to enable students to improve their draft/outline prior to formal and final. submission.
