Develop a NEW product or service
Reflective Essay:Assessment criteria
| ASSESSMENT 1 | Develop a NEW product or service |
ASSESSMENT |
| Weighting: | 20% |
1 |
| Length: | 1500 words min. to 2500 words maximum | |
| Reflective Essay: New Concept Testing Based on knowledge acquired so far in the subject, develop a NEW product or service, and explore its potential by conducting some preliminary research. The essay should be no more than 2500 words, typed or word-processed,(12 point, Arial font, 1.5 line spacing). The essay should outline specific details of:
· the product/service concept, · broad target market and the unmet customer need that is satisfied, and · points of differentiation (what other alternatives and substitutes already exist and why is your product/service better?). |
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| New concept
Product/service concept clearly defined Brief analysis of existing alternatives and substitutes Identification of unmet customer need Selection of broad target market Essay format & presentation |
4 4 4 4 4 |
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| TOTAL |
20 |
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STRUCTURE:
(12 point, Arial font, 1.5 line spacing, Assignment coversheet attached, Softcopy uploaded to BB, Hardcopy to Lecturer (Melbourne only))
- Introduction (150 words)
- Describe the NEW product/service (what is your idea?)
- Identify the unmet customer need (is there a need for your product/service?)
- Describe the target market (who will you sell to specifically?)
- Describe any existing alternatives and substitutes (what other alternatives and substitutes already exist and why is your product/service better?)
- Marketing Plan – the four P’s
- Describe Political, Economic, Social, Technology influences (P.E.S.T. Analysis)
- Conclusion (150 words)
