REPORT DESCRIPTION AND PROPOSED STRUCTURE

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