Assessment 1 Details: Market Opportunity Report (50

This assessment requires you to outline your idea, present details of the market opportunity that exists and design an action plan for Semester 2. You should first concisely explain your idea and your value proposition. You should persuasively outline the market research you have conducted across Semester 1 and demonstrate how the results of this research suggest there is value in pursuing your idea. You must also include an action plan for Semester 2. This will involve setting 3 SMART Goals –1 which is founder specific and 2 which are business specific. Your action plan should include a short reflective rationale which demonstrates strong self-awareness of your development to date.

NCL3100: Semester 1 Assessment Criteria

Value Proposition

(20%) Fail 0-39 Third 40-49 2:2 50-59 2:1 60-69 70-79

1st

80+

There is no evidence of an attempt to create a value proposition. Your value proposition attempts to outline your idea, but this is not concise and may be confusing. There is an attempt to communicate why a customer should engage with your business, but this is long-winded and unclear. Your value proposition outlines your idea and attempts to communicate why a customer should engage with your business. It may be unclear or longwinded.

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Your value proposition is focused and manages to succinctly communicate your idea and why a customer should engage with your business.

There has clearly been a consideration of your target market’s pains, gains and jobs. Your value proposition is written with flair and manages to succinctly communicate your idea and why a customer should engage with your business.

There has clearly been an in-depth consideration of your target market’s pains, gains and jobs and how yourvalue proposition will sufficiently differentiate you from your competitors. In addition, your value proposition makes it clear to the assessors that your idea is highly original.

Market Research

(40%)

There will be highly limited evidence of market research conducted and as such the potential value of your idea will be missing. There will be evidence of market research, but this will be lacking in detail and will fail to justify the value of your idea.

There will be secondary or primary research.

Your research may have been poorly designed or conducted with an inappropriate audience who do not match your target market. There will be evidence of both secondary and primary market research, but this will be lacking in detail in some respects and as such fail to justify the value of your idea.

Your secondary research will include a consideration of the market size and your potential target market. There will be a competitor analysis, but it may be lacking in detail or incomplete.

The primary market research may be limited, poorly designed, or conducted with an inappropriate audience who do not match your target market.

If will be obvious that further research would be needed to validate the need for this idea but this is not recognised.

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You will outline detailed market research analysis which demonstrates the value of your idea to the assessors.

This will include secondary research outlining the size of the sector and your potential target market. There will be a competitor analysis and a consideration of your USPs.

There will also be primary research such as analysis from surveys, interviews or focus groups. There may also be evidence collected through prototype testing or potential traction testing.

Your research will have been conducted with an audience which is relevant to your target market.

If it is obvious that further research would be needed to validate the need for your idea then this will be recognised and research aims for You will persuasively outline comprehensive market research analysis which clearly demonstrates the value of your idea to the assessors.

This will include detailed secondary research outlining the size of the sector and your potential target market. There will be a comprehensive competitor analysis and a strong consideration of your USPs and market positioning.

There will also be multi-level primary research such as analysis from surveys, interviews or focus groups conducted with your desired target market. There may also be evidence collected through prototype testing or potential traction testing.

Your research will have been conducted with your In addition, you will include analysis from primary research which has been conducted with all relevant stakeholders for your solution e.g. customers, users, suppliers, competitors.

Action Plan

(30%)

There will be no clear attempt at creating 3 SMART goals for Semester 2. You will explain your 3 goals of choice but they may all be personal or business specific. There will be an attempt at a short reflective rationale for each goal, but this may simply outline what has happened to date rather than include a reflective element. You will explain your 3 SMART goals of choice –1 founder/personal development specific and 2 business development specific. There will be an attempt at a short reflective rationale for each goal, but this may simply outline what has happened to date rather than include a reflective element. You will use the SMART framework but not all elements may be SMART, and your goals may Semester 2 will be outlined. You will explain your 3 SMART goals of choice –1 founder/personal development specific and 2 business development specific. There will be a short reflective rationale for each goal which includes a critical evaluation of your progress to date and why you would like to set a goal in this area. You will include a reflective example of why it is necessary to set each goal. You will use the SMART framework successfully. desired target market.

If it is obvious that further research would be needed to validate the need for your idea then this will be recognised and clear research aims with a concise action plan for Semester 2 will be

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outlined. You will explain your 3 SMART goals of choice –1 founder/personal development specific and 2 business development specific.

There will be a short reflective rationale for each goal which includes a critical evaluation of your progress to date and why you would like to set a goal in this area. You will include a reflective example of why it is necessary to set each goal. This will demonstrate strong self-awareness in In addition, your SMART goals will be insightful and realistic to achieve within Semester 2.

Structure and Fluency

(10%)

The essay will be incoherently structured and written in such poor English that it is hard to understand.

It will include no references, or have many references missing.

There will be many major grammatical, spelling, or proofreading errors. The essay will be poorly structured and will contain many written English errors. It will have many references missing. There will be many minor grammatical, spelling, or proofreading errors. seem unrealistic to achieve in Semester

2. The essay will be coherently structured and will contain few written English errors.

It will include references but there may be some inconsistencies in the referencing system used.

There will be few minor grammatical, spelling, or proofreading errors. The essay will be well structured and written in fluent English.

It will include appropriate references with only a few minor errors.

There will be few grammatical, spelling, or proofreading errors. relation to business/personal development and will refer to learning activities conducted thus far.

You will use the SMART framework successfully. The essay will be very well structured and written in fluent English.

It will include appropriate references, some of which are from material outside of the course.

There will be no grammatical, spelling, or proofreading errors. In addition, the essay will include manyreferences which go beyond the material of the course.

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