Assignment 2: Developing a Product or Service - Requirements and Grading Scheme

Assignment 2 is an individual assignment. You have to present your research in the form of a POSTER in one powerpoint slide and 500 words�explanation of your Poster and research along with a reference list.You will submit your work by turnitin on weblearn by.

For this assignment you are required to develop a �product or service and need to focus on the following aspects:

• You need to have clear aims and objectives of the business idea and product/service and justify your idea
• You are required to demonstrate your understanding of �the 4 P�s of Marketing and other marketing strategies�(target market,customer buying behaviour and market research) to demonstrate your business idea and advertise your product/service
• You need to show understanding and application of the relevant factors and processes in developing your product (For Example, Operations Management;supply chain etc.)
• You also need to highlight the unique selling point (USP) of the product/service and the innovation and how you have made it different and creative from other products or services.

You need to have minimum 4 academic references from books and journal articles using Harvard referencing. Wordcount can be 10% up or down.

The assignment will be submitted on weblearn in On Monday 7th�June�by 4 pm

Grading Scheme for Assignment 2 for MN4001QA

The extent to which the work shows evidence of EXCELLENT RESEARCH:

• You have undertaken EXCELLENT�research demonstrated by your clear aims and purpose. �
• Clear aims and purpose of the business idea and product and justify your idea
• You have justified your business idea very well �and �have an innovative and creative product and unique selling point.
• Thorough Understanding and application of the operations Management process in developing the product
• Excellent Analysis and research based on the application of marketing tools i.e.4P, Target market, Customer buying behaviour, Market research. You have undertaken good research demonstrated by your organisational knowledge.
• Excellent Level of professionalism with presentation with in text referencing and reference list using the Harvard referencing system
• Harvard Referencing
• Evidence of wide reading, application and referencin

The extent to which the work shows evidence of VERY GOOD RESEARCH:

• You have undertaken very good�research demonstrated by your clear aims and purpose. �
• Clear aims and purpose of the business idea and product and justify your idea
• You have Justified your business idea and �have an �innovative and creative product and Unique selling point
• Very Good Understanding and application of the operations Management process in developing the product
• Very Good Analysis and research based on the application of marketing tools i.e. 4P�s, Target market, Customer buying behaviour, Market research. You have undertaken good research demonstrated by your organisational knowledge.
• Level of professionalism with presentation with in text referencing and reference list using the Harvard referencing system�
• Harvard Referencing: Good referencing. �

The extent to which the work shows GOOD/REASONABLE RESEARCH:

• You have undertaken good research demonstrated by your clear aims and purpose. �
• You need to �Justify your business idea, you should �have an �innovative and creative product and Unique selling point
• Reasonable Understanding and application of the operations Management process in developing the product
• Good/Reasonable Analysis and research based on marketing tools and economy. Application of marketing tools i.e. 4P�s, Target market, Customer buying behaviour, Market research. You have undertaken good research demonstrated by your organisational knowledge.
• Level of professionalism with presentation with in text referencing and reference list using the Harvard referencing system
• Harvard referencing needs improvement. �

The extent to which the work shows adequate, but limited and weak research:

• You have undertaken limited�research demonstrated by your clear aims and purpose. �
• You have not Justified your choice of the piece of art, you do not have an �innovative and creative product and Unique selling point
• Limited Understanding and application of the operations Management process in developing the product
• Weak Analysis and research based on marketing tools and economy. Application of marketing tools i.e. 4P�s, Target market, Customer buying behaviour, Market research. You have undertaken good research demonstrated by your organisational knowledge.
• Inadequate Level of professionalism with presentation with in text referencing and reference list using the Harvard referencing system
• Some evidence of reading, that is, Harvard referencing needs improvement

Does not address the assignment criteria. Presents minimal material related to the topic. �Little evidence of understanding of the theory. Poor structure. �Evidence of poor teamwork. ��Little evidence of scholarship and Harvard referencing

Does not address the task set. Little evidence of understanding either the task or the subject matter. No evidence of scholarship. No evidence of teamwork.

Learning Outcomes not met /Non-attendance and non-engagement. �

What is the new grading scheme?

The scheme uses a 12-point letter grading, replacing the previous continuous percentage scale, as above. This grading scheme applies to all assessment components on all UG modules which would previously have been marked using the percentage scale � exceptions are marking of numerically based work or a pass/fail assessments. ����This grading scheme is to be used for all UG students who are new enrolments on modules in 2017/18 � whether this is their first attempt at the module or a retake of the module. �Students doing reassessments only�in 2017/18 should be marked as for their original assessment.

When an assignment or exam is based on numerical work (such as online multiple choice tests which generate a specific number of correct answers, or where there are a series of questions with a set number of marks assigned to each answer) the full range of marks from 0 to 100 should be used, that is, they should not be �translated� into a letter grade). ��Assessments which are marked on a pass/fail basis such as placements) should continue to be marked on a pass/fail basis.

Using the grading scheme

The process for marking work under the new grading scheme is as follows:

Assign the appropriate letter grade by considering the criteria specified on the table under each category.

Students should be given their letter grade along with their feedback. �It should be clear to the students how the criteria have been applied to assess their work.

The mark entered onto Evision should be the spot percentage which corresponds to the letter grade on the table (e.g., a grade of A should be entered as 85%, a grade of C as 53%).

If a module is assessed by more than one unit of assessment, the percentage marks should be averaged (with appropriate weighting) to produce the module result. �As the module result is calculated by averaging marks, it will not necessarily be one of the fixed percentages on the scale.

To justify the idea, the entrepreneur or business owner should conduct market research to assess the viability of the product or service, identify potential customers, and evaluate the competition. They should also consider the financial feasibility of the venture, including start-up costs, ongoing expenses, and potential revenue streams.

Additionally, the entrepreneur should consider the potential social and environmental impact of their business idea and product/service. Consumers are increasingly conscious of the ethical and sustainability implications of their purchasing decisions, and businesses that prioritize these values may have a competitive advantage.

Overall, a successful business idea and product/service should align with the needs and desires of the target market, offer a competitive advantage, and be financially and socially responsible. By focusing on these aims and objectives, the entrepreneur can increase their chances of creating a successful and sustainable venture.