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Riara University School of Business and Law *

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BDT 021

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Marketing

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Nov 24, 2024

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Page 1 of 7 Assignment 1A Marketing and Innovation Assessment Type Portfolio A: Report Submission details/form 1,200 word document + 10% Purpose This assignment asks you to: Demonstrate analysis of innovations and examination of its parts using existing frameworks as the theoretical lens Critically examine information and make judgements about recent market innovations. Overview & Tips You will need to choose one innovation from several alternatives, then present an analysis that examines its parts and explore relationships between them Please do Innovation: Bed Timber bed Base from EVA Mattress. Overview of EVA in Good Design: https://good-design.org/projects/eva-timber- bed-base/Links to an external site. Video of EVA (9th Finalist): https://youtu.be/Fog0Links to an external site. You will then need to present an analysis of the innovation’s marketing mix, and compare it to other players in the market it currently competes in You will need to conclude by identifying priority challenges and potential opportunities The next assignment (1B) will focus on analyzing the consumers of your chosen innovation, so choose wisely.
Assessment details In this assignment, we will look at dissecting innovations that were recently launched in the Australian market. You will be given a choice from several recent innovations in Australia. You must choose one, and complete the following tasks: Task 1: Analyse the innovation using the innovation mapping framework - Introduce the innovation, its place within the company’s portfolio, and key information relating to the industry it competes in - Apply the Innovation Space framework to analyse your chosen innovation Figure 1. The Innovation Space framework Task 2: Audit the innovation’s marketing mix and identify competitors - Apply the relevant marketing mix framework to analyse how your chosen innovation has marketed itself - Create a positioning map that charts the innovation and its main competitors in the market, with justifications and a summary profile of each competitor Task 3: Analyse key challenges and potential opportunities - Assess and judge the most up-to-date status of the innovation in the market using the BCG Matrix - Apply the micro-macro environmental analysis framework to create a SWOT analysis of the innovation. Figure 2. The micro-macro environmental analysis framework
Assessment progression The innovation you pick will carry over and be the basis for the whole semester, including any group assignments. To ensure even distribution, there will be a quota of how many students can choose each innovation in a class. You will be required to register your chosen innovation with your class teacher. Assignment Structure and Ingredients Below is the recommended structure of the assignment and what should be included in each section. We encourage you to be creative and you are welcome to insert images, figures, and graphs to support your document. Introduction Start with a short summary of the chosen (or assigned) innovation, the company that launched it, and (if relevant) the innovation’s position within the company’s product portfolio Provide key information and/or data about the industry where the innovation competes in. We expect to see robust usage of data and/or statistics from reliable and reputable industry reports in this section Innovation Space Present your analysis of the innovation using the “4P Innovation Space” framework. Marketing Mix Present your findings on the innovation’s most current marketing mix using the appropriate framework (4P for goods, 7P for services) This section should be supported by strong evidence including (but not limited to): links, pictures, screenshots, references, etc. Competitor Report Present a positioning map that lists at least two other main competitors of your chosen innovation. Present a justification/analysis about the chosen X and Y axis of your positioning map. Note that your chosen competitors may not even be from the same industry depending on the axis you choose Present a summary report on each competitor to your innovation and more importantly, your judgment why you think they are your innovation’s main competitors As always, we expect to see strong reasoning, evidence, and justification for your judgment Innovation Analysis Open with the BCG matrix relating to your innovation and a S.W.O.T table containing key summaries. Follow with sections that justify the placement of the innovation in the matrix Then elaborate and/or justify each of the four sections of your SWOT table
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We expect you to use any of the relevant 12 micro-macro environmental factors to frame your analysis. These factors should be mentioned explicitly, but presented as a synthesis, instead of separate discussions. References (excluded from the word count) Use APA system of referencing. In addition to APA style, you must include a link at the end of any online references. o Do this : Sembada, A. (2018), "The two sides of empowering consumers to co-design innovations", Journal of Services Marketing, Vol. 32 No. 1, pp. 8- 18. https://doi.org/10.1108/JSM-02-2017-0062 o NOT this: Sembada, A. (2018), "The two sides of empowering consumers to co-design innovations", Journal of Services Marketing, Vol. 32 No. 1, pp. 8- 18. Appendix (excluded from the word count) You should place key evidence (graphs, screenshots, etc) in the main body of the document.
Page 5 of 7 EXCEEDS STANDARD MEETS STANDARD YET TO ACHIEVE MINIMUM STANDARD Grade >>>> High Distinction (HD)/80-100 Exemplary/exceeding high standard Distinction (D)/ 70-79 Very good/ Exceeds expectations Credit (C)/60-69 Good/Well done Pass (P)/ 50-59 Acceptable Fail (N) /0-49 Requires further development/needs improvement Performance Indicators Work that exceeds expectations and may serve as a guide to others as an example of “best practice” Very good work. Purposefully and logically developed. Thoroughly addresses all aspects of the task. Shows evidence of sound understanding and thoughtful examination. Good work. Generally clear, accurate and relevant. Adequately addresses all requirements of the task. Development is generally logical, facts generally correct. Satisfactory. Shows basic understanding with minimal evidence of reflection or thoughtful analysis. Merely complies with the basic requirements. Unsatisfactory work. Does not address the topic in a meaningful way. May be extremely brief, inaccurate, illogical or undeveloped. Criteria for Assessment (below) Introduction Does the section show understanding of: - The chosen/assigned innovation? - The innovation’s position within the company’s portfolio? - The industry/context where the innovation competes in? All of: - All components present in a way that shows mastery beyond what can be expected from learners at this level - Shows comfort and skill in synthesizing different sources of credible evidence to arrive at deep insights - Uses credible evidence from data gathered beyond cursory research - Show authentic and convincing “voice” in conveying the results All of: - All or most components present in a way that shows excellent understanding - Shows sparks of insights from synthesizing different sources of credible evidence Either: - Most components present in a way that shows more than surface-level understanding - All components present but analysis was done using questionable assumptions unsupported by reasonable evidence. Either: - Only two of three components present or done in a way that is of minimum expected standard. - All components present but shows minimum effort, or does not use concepts and theories that demonstrate learning At least two out of three components are missing or done in a way that is significantly below the expected standard Does not sufficiently show understanding of the instructions (e.g does not link trend with theme) Innovation space Does the section: - Explains what innovation space the chosen product occupies? All of: - All components present in a way that shows mastery beyond what can be expected from learners at this level - Shows comfort and skill in synthesizing different sources of credible evidence to arrive at deep insights - Uses credible evidence from data gathered beyond cursory research All of: - All or most components present in a way that shows excellent understanding - Shows sparks of insights from synthesizing different sources of credible evidence Either: - Most components present in a way that shows more than surface-level understanding - Components present but (1) does not go beyond the basics of what was given and/or (2) done using questionable assumptions unsupported by reasonable evidence. Either: - Only two of three components present or done in a way that is of minimum expected standard. - All components present but shows minimum effort, or does not use concepts and theories that demonstrate learning At least two out of three components are missing or done in a way that is significantly below the expected standard Does not sufficiently show understanding of the instructions (e.g inaccurate understanding of concepts)
Marketing Mix Does the section: - Use the appropriate framework? - Show accurate and detailed reporting of the marketing mix? - Use rich and convincing evidence in its reporting? All of: - All components present in a way that shows mastery beyond what can be expected from learners at this level - Shows comfort and skill in synthesizing different sources of credible evidence to arrive at deep insights - Uses credible evidence from data gathered beyond cursory research All of: - All or most components present in a way that shows excellent understanding - Shows sparks of insights from synthesizing different sources of credible evidence Either: - Most components present in a way that shows more than surface-level understanding - Components present but (1) does not go beyond the basics of what was given and/or (2) done using questionable assumptions unsupported by reasonable evidence. Either: - Only two of three components present or done in a way that is of minimum expected standard. - All components present but shows minimum effort, or does not use concepts and theories that demonstrate learning At least two out of three components are missing or done in a way that is significantly below the expected standard Does not sufficiently show understanding of the instructions (e.g inaccurate understanding of concepts) Competitor report Does the section: - Provide a robust and thorough reporting of competitors? - Justify its selection of the positioning map axis? - Provide compelling argument and justifications about the innovation’s main competitor. - Use rich and convincing evidence in its reporting? All of: - All components present in a way that shows mastery beyond what can be expected from learners at this level - Shows comfort and skill in synthesizing different sources of credible evidence to arrive at deep insights - Uses credible evidence from data gathered beyond cursory research All of: - All or most components present in a way that shows excellent understanding Shows sparks of insights from synthesizing different sources of credible evidence Either: - Most components present in a way that shows more than surface-level understanding Components present but (1) does not go beyond the basics of what was given and/or (2) done using questionable assumptions unsupported by reasonable evidence. Either: - Only two of three components present or done in a way that is of minimum expected standard. All components present but shows minimum effort, or does not use concepts and theories that demonstrate learning At least two out of three components are missing or done in a way that is significantly below the expected standard Does not sufficiently show understanding of the instructions (e.g inaccurate understanding of concepts) Innovation analysis Does the section: - Provide a clear and compelling summary of relevant factors? - Draw from a rich selection of micro & macro factors in its analysis? - Use robust and convincing evidence in its reporting? All of: - All components present in a way that shows mastery beyond what can be expected from learners at this level - Shows comfort and skill in synthesizing different sources of credible evidence to arrive at deep insights - Uses credible evidence from data gathered beyond cursory research All of: - All or most components present in a way that shows excellent understanding - Shows sparks of insights from synthesizing different sources of credible evidence Either: - Most components present in a way that shows more than surface-level understanding - Components present but (1) does not go beyond the basics of what was given and/or (2) done using questionable assumptions unsupported by reasonable evidence. Either: - Only two of three components present or done in a way that is of minimum expected standard. - All components present but shows minimum effort, or does not use concepts and theories that demonstrate learning At least two out of three components are missing or done in a way that is significantly below the expected standard Does not sufficiently show understanding of the instructions (e.g inaccurate understanding of concepts)
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Presentation and Expression General elements of: - Does it adhere to word count? - Are the references done according to requirement? - Does it use appropriate and understandable language? - Does it use appropriate grammar, and structure? - Does it show effort to produce a professional and/or creative submission? A work that can be confidently be referred to as ‘best practice’ in this category if we need to display it to external observers. Most except one or two elements are done in a way that sits on the top range of the standard that can be expected at this level. Some elements are done in a way that is comfortably within the standard that can be expected, while one or two others require improvement Either: - More than half of the elements are done in a way that meets the minimum standard - Some elements are done well while other elements are glaringly below standard, but none has crucial mistakes Either: - Half or more of the elements missing or significantly below standard - Some elements show crucial mistakes (e.g more than 40% the allocated word limit; using thesaurus to trick Turnitin), even though other elements are done well