You need to demonstrate the innovative and e?ective development of a new product/service concept.

Task Description Assessment 2 (practical assessment) and Assessment 3 (report) are related. Assessment 2 was the development and presentation of the two new product/service concepts for two competing brands based on customers’ reviews. Assessment 3 (report) requires you to consider one of the two new product/service concepts you developed for Assessment 2 and prepare the brand’s promotional plan for its ?rst-year entry in the global market. The promotional plan should include: • competitive strategies based on Porter’s competitive theory/framework, • importance/performance framework, • BCG portfolio matrix analysis and • product lifecycle theory/strategy analysis. N.B.: You can use the importance-performance framework you developed for Assessment 2 and develop hypothetical data/?gures and construct a BCG portfolio matrix and a product lifecycle curve (PLC), and position against the competing brands. Place your new concept brand, which is about to enter the market, in that BCG matrix and on PLC to demonstrate your intended position and to formulate and analyse relevant strategies. You need to demonstrate the innovative and e?ective development of a new product/service concept and brand management strategies. Where applicable, data related to the BCG matrix, market share (if known), product life cycle (PLC), importance-performance framework etc. can be hypothetically developed. This is applicable if you do not ?nd relevant data in various secondary sources. In these cases, simply write “source: assumed and prepared for this assessment task only”. It is expected that the report will be based on the concepts, theories, tools introduced in this unit and your own research ?ndings. You are encouraged to include recent journal articles, published since 2013, and relevant theories and research ?ndings, where appropriate. Use of data and information from the Australian Bureau of Statistics, Austrade, relevant and authentic Web sites, textbooks etc. will enrich your report. You are strongly suggested to attend the lecture, tutorial, and discussion sessions. Please also follow the study resources available on the Moodle site and/or on the Web. Please remember that the data/information that is readily available on the Web or in other published resources cannot be ‘assumed’ for this assessment task. Please cite and reference relevant data and information, where applicable. Your examiners expect authentic citations/references using the APA referencing. Notes for your assessment task The word limit of this individual report is 2500 words (maximum) between the start of the introduction and the end of conclusion sections. The Executive Summary should be no more than 1 page in length. The assessment must be uploaded as a .doc or .docx ?le (word ?le). Use Times New Roman size 12 with a 1.5 line spacing. ________________________________________


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