Innovative Business / Product Plan Custom Paper

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(make a new product or business plan >and please fellow the Question Paper and the example
uploaded )
This assignment will assess your systematic understanding of issues relevant to Creativity Innovation
and Entrepreneurship. It will encourage and develop your entrepreneurial skills, self-motivation and
analytical abilities through the creation of a new product/service, an investigation of a specific
market, and the production of a professional business/product plan. This will help you to develop
the skills necessary to engage in entrepreneurial / intrapreneurial activity.
1) PITCH (25%): As a Team of approximately 4 members, you will have 15 minutes to pitch your
Product and business idea to your peers. Together you must create an innovative product or
service opportunity. From this you are required to create a scenario that clearly describes the
Product, Organisation, Market and Marketing Strategy for your Business start-up (entrepreneurship),
or for an existing organisation (intrapreneurship).
• Description of the business (Trading Name, Logo, Slogan, Legal classification, Mission statement
& Objectives).
• Description and illustration of the Product/service idea (what exactly are you offering, How is it
different to other offerings USP).
o Be creative with your pitch, you can use a Poster, flyers, prototype, audio or video to support
your presentation.
• Explain the Target Market and justify the need for the product/service.
• How will you reach the Market (4ps).
• How will the product be produced and distributed.
• Potential investors and partners.
• Personnel required.
o Respond to questioning from the audience (5mins).
2) REPORT (75%): Individually you are asked to write a Business/Product-plan that describes in
detail your own commercial idea. This will be different to the Group concept and will allow you to
express your own creative and innovative spark.
The business plan should include details relating to issues such as:
1. Description of the Product/Business opportunity
Trading name & Logo, Legal classification, Mission Statement & Objectives, Values.
Product / Service (what exactly are you offering? How is it different to other offerings?).
Product Design (Model sketch / drawing, Graphic illustration and description).
2. The market and competitors (based on primary and secondary market research)
Industry description, market size, growth potential, etc. Who are your competitors, products, price,
USP?
Analysis of the macro/micro environment using frameworks such as SLEPT, SWOT, Porter’s 5
forces.

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