Cx770015 Managing For Growth: Assessment Answer

The first part of the assessment involves writing up an individual report on a business development idea, while the second part of the assessment is to undertake a group presentation for 15 minutes on a fully developed business plan. The second part of the assessment is undertaken in groups of 4 or 5 depending on class size.

Part 1:  Business Idea Development

Using secondary information and relevant marketing concepts assess the market with the objective of launching a new or improved product offering for New Zealand. Your discussion of the business idea must show how your new / improved offering fills a gap in the New Zealand market. The marking criteria document for the individual business idea development report is found below.  

Part 2: Business Development Plan Group

In groups, prepare a presentation to show how your product offering can be developed and managed over the growth and maturity stages of the product life cycle. To do this you either take the perspective of a new entrant to the industry, or one of the established players. You must consider appropriate objectives, develop a business strategy and the marketing mix strategies you will need to achieve the objectives and strategy. Maybe you could consider a new product line, a new variety, new distribution methods, and/or new advertising initiatives. For example, If you wish to reach a new consumer group, then you need to show that they exist (potentially, at least). If you believe that a lower (higher) price is a key factor then you need to show that there is a trend to lower prices, or evidence of economic pressures, that make the strategy sensible. Your presentation must show sound rationale and logic, and be supported by good quality secondary information.

For your presentation, imagine you are presenting your business plan idea to potential investors. You have 10 minutes to present your business idea/concept and five minutes for questions. All members are required to contribute to the presentations.

Some Brief guidelines group may use to prepare the group presentations.

(Please note this list is not a comprehensive list but merely some guidelines. Each group may adapt and draw on relevant issues that would enable the successful management of the product offering over the stages of the product lifecycle). 

Present an overview of the product offering.  
Justify the choice of your new / improved business offering. Provide the logic to show how the idea fits a gap in the market.
Do you have a competitive advantage? Identify your main competitors (at least 2). Justify your choice.  
What are the advantages or benefits of the idea?  
Is there a real need for it?  
Is the market ready for your new offering?
Who are your target customers?
How your company can generate organic growth?  
How will you manage the growth of your offering over the different stages of the product life cycle (introduction, growth and maturity stages of the PLC)
Explain if there are any potential problems the idea might create (in relation to financial, marketing, or  
Human resource aspects? How might you overcome these problems?
Discuss how simple or complex will be the idea's execution or implementation.