Task 1 Generate ideas for an innovative product or service. Focus on the following key steps: a) Idea generation b) Opportunity evaluation and SWOT c) New product/service planning d) Market research for the new idea [Unit: Entrepreneurship and Innovation: Learning Outcome (LO): 1] Task 2 a) Select a target market for the new product/service b) Analyse the target market and select an app

Task 1

Generate ideas for an innovative product or service. Focus on the following key steps:

1. Idea generation

1. Opportunity evaluation and SWOT

1. New product/service planning
2. Market research for the new idea

[Unit: Entrepreneurship and Innovation: Learning Outcome (LO): 1]

Task 2

1. Select a target market for the new product/service

1. Analyse the target market and select an appropriate market segment

1. Identify one main customer group for your new product/service and explain each element of their consumer decision-making process

1. Explain how ethical issues can affect the relationship between your organisation’s marketing mix for the new product or service and the behaviour of its consumer
2. Evaluate the impact of the marketing mix’s 4 Ps on consumer behaviour for your selected market

[Unit: Entrepreneurship and Innovation; LO2. Unit: Consumer Behaviour; LO2 and LO3]

Task 3

Develop a marketing and integrated promotional plan for the new product/service to meet the needs of your organisation’s global target markets. This plan must clearly show:

1. Communication processes and current trends in advertising and promotion, including the impact of ICT and the internet

1. Measurable goals and objectives
2. Strategies for monitoring and control of the marketing and promotional plan

[Unit: Marketing Communications:; LO1 and LO3]

Assignment Word Count

Max. 6000 words across all tasks.

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				Page 5 of 7
Criteria and Mark Scheme
	Performance Criteria	Marks	Comments		Mark
		allocated			Given
Task 1		27
Generate ideas for an innovative
product or service. Focus on the
following key steps:
a)	Idea generation
b)	Opportunity evaluation and SWOT
c)	New product/service planning
d)	Market research for the new idea
EI: LO1
Task 2		36
a)	Select a target market for the new
b)	product/service
	Analyse the target market and
	select an appropriate market
c)	segment
	Identify one main customer group
	for your new product/service and
	explain each element of their
d)	consumer decision-making process
	Explain how ethical issues can affect
	the relationship between your
	organisation’s marketing mix for the
	new product or service and the
e)	behaviour of its consumers
	Evaluate the impact of the
	marketing mix’s 4 Ps on consumer
	behaviour for your selected market
EI: LO2. CB: LO2 & LO3
Task 3		27
Develop a marketing and integrated
promotional plan for the new
product/service to meet the needs of
your organisation’s global target
markets. This plan must clearly show:
a)	Communication processes and
	current trends in advertising and
	promotion, including the impact of
b)	ICT and the internet
	Measurable goals and objectives
c)	Strategies for monitoring and
	control of the marketing and
	promotional plan
MC: LO1 & LO3

 

 

 

 

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Structure and Format (2 marks)

10

• Relevance to the tasks,

 

	professional tone and format
	of response
Harvard Referencing (8 marks)
•	In-text citation
•	Bibliography, listed correctly
	and correlates to references
	made
•	Accurate, correctly-formatted
	footnotes
•	Integration of: supporting
	concepts, frameworks, critical
	thinking
Total Mark		100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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			Page 7 of 7
Assessment Criteria for all Assessments
Marks			Criteria
70-100	•		The answer submitted has an outstanding result with negligible amount of mistakes.
	•		The answer shows an appreciative level of knowledge and clear understanding of related models,
			theories and frameworks. Analytical techniques used show the wide area of knowledge the learner
			has.
	•		The ability to apply and contextualise the models, theories and frameworks are clearly
			recognisable.
	•		The analysis and the use of research data, as well as the ability to use the data to reach acceptable
			and accurate conclusions is exceptional.
	•		Answers show independent thought and clarity of the learner answer has led to an overall focused
			and evaluative answer.
	•		The answer has followed proper Harvard referencing.
60-69	•		The answer shows an above average standard with few errors.
	•		The answer shows a decent level of knowledge and fairly clear understanding of related models,
			theories and frameworks. There is a very good level, and use of, analytical techniques that is
			obvious throughout the answer.
	•		The ability to apply and contextualise the models, theories and frameworks are of a good
			standard.
	•		The analysis and the use of research data, as well as the ability to use the data to reach acceptable
			and accurate conclusions is above average level.
	•		Answers show independent thought and clarity of the learner answer has led to an overall focused
			and evaluative answer with little inconsistency.
	•		The answer has followed proper Harvard referencing.
50-59	•		The answer shows an above average standard with errors.
	•		The answer shows a general level of knowledge and a fairly clear understanding of related models,
			theories and frameworks. There is a good level, and use of, analytical techniques that is obvious
			throughout the answer.
	•		The ability to apply and contextualise the models, theories and frameworks are of a reasonable
			standard. However, the link between theory and practical knowledge appears to be
			restricted/limited.
	•		The answer shows more assumptions than conclusive deductions/evidences and valid arguments.
			However, the ability to interpret and evaluate is evident.
	•		Answers show independent thought and clarity of the learner answer has led to an overall focused
			and evaluative answer with some inconsistencies.
	•		The answer has followed Harvard referencing at an acceptable level.
40-49	•		There are several shortcomings throughout the answer.
	•		The knowledge level reflected in the answer is limited, especially in understanding of related
			models, theories and frameworks.
	•		The case material has been repeated instead of evidencing knowledge.
	•		The use of analytical techniques is inadequate.
	•		A certain level of relevance is evidence in Harvard referencing.
30-39	•		Answer submitted is quite weak and lacks proper focus.
	•		The answer shows a number of spelling errors and/or poor grammar/syntax.
	•		The lack of understanding in subject knowledge, related models, theories and frameworks is
			evident.
	•		Contextualisation, interpretation, and evaluation are of a poor standard.
	•		Reflects only basic levels of Harvard referencing.
0-29	•		Requires more work on answering skills; overall output is well below the required standard.
			Answer has little relevance to the assignment briefs. Spelling/syntax poor.
	•		Little or no evidence of appropriate subject knowledge.
	•		Use of models, theories and frameworks is quite poor.
	•		Little to no evidence of, and/or unacceptable mistakes in, Harvard referencing.
The overall Pass Mark for this Assignment is 40%.
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