Discuss How Innovation Is Impacting The Market Within Which Your Chosen Organisation Operates

Task 1 – Report

Learning Outcomes covered in Task 1:
LO1, LO2 Please refer to the module specification for Learning Outcome details.

In line with the theme you have selected for this assignment, you are required to carry out the following.

(a) Provide a background to your chosen organisation, including:
• organisation name
• organisation information – to include type of organisation, size of organisation, range of products and services, customer base and main competitors
• a summary of the organisation’s macro environment
• key customer segment – an overview of the selected key customer segment
• theme chosen and detailed rationale for choice.

(b) Discuss how innovation is impacting the market within which your chosen organisation operates, and THREE challenges it faces in developing innovative strategies.AC1.1, AC1.2, AC1.3

(c) Assess whether your chosen organisation meets the requirements of an ‘innovative organisation’. AC2.1, AC2.2

Task 2 – Business Case

Learning Outcomes covered in Task 2:
LO3, LO4Please refer to the module specification for Learning Outcome details.

Innovative Marketing
In line with the theme you have selected for this assignment, you are required to carry out the following.

(a) Analyse how the marketing function within your chosen organisation can use market research techniques to support the development of innovative approaches and meet the stated objective of your selected theme. AC3.1, AC3.2

(b) Recommend, with justification, ONE option for innovation that should be adopted by your chosen organisation to achieve the stated objective of your selected theme. AC4.1

(c) Develop a business case to convince key stakeholders to support the innovation you have recommended in Task 2

(b). The business case must include:
• the risks and benefits of the option for innovation (including how risks will be managed and benefits realisation will be tracked)
• analysis of relevant stakeholders, their needs and how they will be engaged with
• the resources required (human, equipment, technology)
• detailed financial analysis, including a budget and return on marketing investment
• critical success factors
• Gantt chart showing clear start and end dates and key milestones. AC3.3, AC4.2, AC4.3

Task 3 – Marketing Plan

Learning Outcomes covered in Task 3:
LO5, LO6 Please refer to the module specification for Learning Outcome details.

Innovation in Action
Building on your responses to Tasks 1 and 2, and in line with your selected theme, you are required to carry out the following.

(a) Develop a marketing plan to support the innovative approach put forward in Task 2 (c). This plan must:
• adopt a recognised marketing plan format, including activities and considerations for communications
• include key messages, tools and channels for both internal and external audiences
• focus on meeting the stated objective of your selected theme
• include full details of metrics to be used to measure the success of the plan. AC5.1, AC6.1, AC6.2

(b) Recommend with justification ONE change to the current culture of your chosen organisation that will encourage more participation in innovation from employees in support of your selected theme objective. AC5.2