MKT 3364 XTIA Innovation Business Plan

MKT 3364 XTIA Innovation Business Plan

PROJECT INSTRUCTIONS

Product & Service Innovation

MKT 3364 XTIA

Troy Online

5-24-21 to 7-25-21

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PROJECT ASSIGNMENT

MKT 3364 XTIA for T5 Summer 2021 requires one individual student project worth a maximum of 120 points. Students have the option to select either a product or a service innovation (or a combination) for their report. The rubric explains the categories of innovations that a student can chose for his or her project. You are required to post your paper in a Word document on the Canvas assignment link provided by the due date.

Written reports must be grammatically correct based on standard English. The required cover sheet must include: (1) The project title in all capital letters; (2) the course name (Product and Service Innovation) and number (MKT 3364 XTIA); (3) the term (T5 Summer 2021); (4) the instructor’s name (Dr. William T. Neese), and (5) the first and last names of the student who will get credit for that work. Do not number the cover page, but do number the rest of your paper beginning with the first page of text. A Table of Contents is not required but can be included at the student’s discretion. Headings, subheadings, tables, exhibits, and appendices must be included at appropriate places throughout the paper when necessary. Use 12-point font, but please avoid unusual, decorative, or odd font styles that are difficult to read. Inconsistencies in margins, fonts, line spacing, indent levels, etc. will be interpreted as a lack of required editing and will result in a grade penalty. In addition to the eight major sections listed below, your grade will be based on the quality of the writing and the quality of the graphics included in the report.

References are mandatory based on standard APA citation rules. Plagiarism will result in a grade penalty up to zero (0) for the project and possible academic discipline as described in The Oracle. According to the Random House Webster’s Dictionary (4th Edition, 2001), to plagiarize something is “to take and use (ideas, passages, etc.) from (another’s work), representing them as one’s own.” (p.548) Copying what somebody else wrote for your paper and changing a few words is plagiarism. It is serious, and many people have lost their jobs due to it. Plagiarism is a legal violation of another person’s copyright, which is the same as stealing or theft of intellectual property. This (in red) is the official course policy for plagiarism from our syllabus: Any term paper, business plan, term project, case analysis, or assignment may have no more than a 3% similarity score of its content quoted from a single source, and that quotation must be done correctly based on APA guidelines. Cutting-and-pasting any amount of material from any source is evidence of plagiarism. Simply adding a source that has been plagiarized to the reference section does not mitigate the plagiarism. Students who need assistance learning to paraphrase should consult the Troy Writing Center. All assignments must be submitted through the appropriate link in Canvas so they can be assessed by Turnitin for plagiarism; that assessment is part of your grade.

I cannot accept any assignment e-mailed to me or delivered in any other manner.

Instructions. Each student is required to conceptualize, research, and explain either a product or a service innovation (or a combination). Your paper is required to be a business plan as discussed in our textbook on pages 57-62. All of the following sections are required as major sections (with their own heading and in this order) for your written report:

(1) Executive summary

(2) Business description

(3) Market analysis

(4) Organization and management

(5) Sales strategies

(6) Funding requirements

(7) Financial projections

(8) Risks and countermeasures

Based on the below rubric, Exceeds Expectations explains what is required to make an A, Meets Expectations translates to a B or C, Below Expectations will earn a D or F, and Incomplete projects will earn an F.

CRITERIA	INCOMPLETE	BELOW EXPECTATIONS	MEETS EXPECTATIONS	EXCEEDS EXPECTATIONS
Product/Service Concept is original and marketable. The description is a clear and detailed explanation of the product/service and how it meets consumer needs and wants.	The product or service concept has not been described or explained in any way.	Product/Service concept is vaguely described or not adequately explained. Little effort is shown to create and describe the product/service concept.	Product/Service concept is adequately described and explained. Good effort has been made to create and describe the product/service concept.	Product/Service concept is described and explained in great detail. An excellent effort has been made to create and describe the product/service concept.
Originality and Innovativeness of the product/service is distinct. There is no other product/service like this on the market.	The originality and innovativeness of the product/service has not been described or explained in any way.	The product/service is only a copy of an existing version or represents only a very minor modification. Little effort is shown to create an original and innovative product or service.	The product/service is original but only represents a modification of an existing version. However, a good effort has been made to create an original product/service.	The product/service is completely original and innovative. An excellent effort has been made to create a product/service unlike anything else on the market.
The Target Market is clearly defined and justified.	The target market has not been described or justified in any way.	The target market is poorly defined with no justification for why it was selected.	The target market is broadly defined with limited justification for why it was selected.	The target market is precisely defined with ample justification for why it was selected.
The Business Plan is well articulated and obviously appropriate for the target market. A detailed explanation of the business tools and techniques to be used is included.	The business plan has not been described or explained in any way.	The business plan is not complete or only an outline of the major steps. Details are weak. It is not appropriate for the target market and does not adequately explain what is necessary for implementation.	The business plan is good with adequate explanation of each major step provided. It is appropriate for the target market and describes most of the tools and techniques necessary for implementation.	The business plan is excellent with a detailed explanation of each major step provided. It is highly appropriate for the target market and describes all of the tools and techniques necessary for implementation.
Functionality of the innovation is obvious. It will contribute to a more efficient and/or effective way of doing things.	Functionality of the innovation has not been discussed.	The functionality of the innovation is poorly described and/or not supported by evidence (i.e. research).	The functionality of the innovation is adequately described and supported by evidence (i.e. research).	The functionality of the innovation is clearly and completely described and supported by evidence (i.e. research).
The Cost Benefits are clear. There is evidence that the innovation will bring value to the organization while at the same time controlling, reducing, or eliminating costs.	Cost benefits of the innovation have not been discussed.	The cost benefits of the innovation are poorly described and/or not supported by evidence (i.e. research).	The cost benefits of the innovation are adequately described and supported by evidence (i.e. research).	The cost benefits of the innovation are clearly and completely described and supported by evidence (i.e. research).

 

 

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