REPORT DESCRIPTION AND PROPOSED STRUCTURE (DUE 1.12.2020)
For your individual report, you are required to write a 2,000-word report on one source of innovative opportunity for a tourism or hospitality business. Your report should clearly identify the source of your innovative idea, a detailed overview of your product or service, the potential market and competition, marketing strategies and your plans for future growth, development and gaining competitive advantage in the marketplace.
Introduction (300-500 words)
· Demonstrate awareness of the broader context (what are the trends in t&h market)
· Source of innovative idea (existing product/service that you want to innovate)
· Innovation theory and context
· Schumpeter’s framework
Main body (1000-1400 words)
· Describe the product/service you are innovating
· Define your market segment (who they are, what are their characteristics, how their needs
will be met)
· Competition
· Marketing strategies (how will you promote your product/service)
Conclusion (300-500 words)
· Anticipate the conditions in the market in the future
· Discuss plans for future growth of your product or service (expanding to other markets,
establishing collaboration with new stakeholders)
· How will you maintain competitive advantage in the market place
References (don’t count towards the overall word count)
· Harvard referencing style
· Both academic and non-academic sources
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