Subject TitleFashion Brand Management & Innovation
Subject CodeFBM 201
 
Assessment TitleBrand Innovation & Management Plan – Shark Tank
Graduate Capabilities     
Learning Outcome/s (found in the Subject Outline)A, B, C & D
Assessment type (group or individual)Individual
Weighting %40%
Word count1300 +/- 10% (show total word count less cover page, references / appendix)
 
Due dayShark-tank during class of WK11.  Turnitin at 23:55 the Saturday following the WK 11 lecture
Submission type    ☒ – Tutorial ☒ – Submit to Moodle      
 
Format / Layout of Assessment  Report: ICMS Cover Page Table of Contents Introduction Findings Conclusion /Recommendations Reference List Appendices                                                     
Assessment instructions   
Readings for the assessment  Lectures 5 & 6, Posner Chpt. 6, Keller Chpt 6
Grading Criteria / RubricDevelop a creative, new ‘fashion’ product applying some of the innovation strategies discussed in class (consider new technologies, materials, services, etc.) Prepare a brand management plan for this product. This new product can be part of an existing company or of a new company. Post a visual summary of your revolutionary product innovation on Moodle / Zoom for review by peer assessors in “shark tank” type conditions. Vote on the top three brand innovations in class! Introduction : approx. 250 words a) Briefly describe your new brand (include a visual sketch of the product.) What market sector is it in? Importantly, what is unique about it? b) Describe two trends or forecasts you have sourced and the idea generation methods you have used to base your innovation on. Body: Brand Elements Section 1-3, approx. 200 words 1. Briefly describe the identity and essence of your brand. Then prepare a mood board to help illustrate this identity / essence. 2. Illustrate some of the brand’s intended elements: the type of name you have chosen and the logo. Provide short reasoning for your choices. 3. Briefly describe your STP strategy: Who is your target (focus on psychographic and behavioural characteristics) and prepare a positioning map to illustrate your positioning in the market vs your main competitors? Brand Marketing Program Plan Section 4 approx. 500 words 4. Prepare a marketing program plan overview: Product: Prepare a differentiation table to highlight your USP Place: Describe your sales outlets (use visual representations to illustrate the type and feel, rather than words) Promotion: Describe 3 tools of the promotional mix that you plan to use in the first year. (again use visual illustrations) Price: Discuss the price and pricing strategy you will apply (include discussion of main competitor). CSR: How will you demonstrate your corporate social responsibility? Brand Growth Section 5 approx 350 words  5. Recommend potential extension opportunities for your new brand in the future. Include both line and category extensions. Provide one short term and one long term opportunity for each extension type. (i.e. 4 extensions all together) Support your recommendations with trend forecasts you have sourced. 6. In the effort to expand your geographical boundaries in the future, recommend one potential new country market to launch your product into. Discuss market size i.e. potential target customers, growth predictions, and potential product adaptations required to suit the cultural consumer differences. Shark Tank Submission Prepare a one-two page visual summary of your brand idea for a Padlet posting in wk 11. Make sure you label it with a brand name. Include: a brief description of the brand and why you believe it is revolutionary and suitable for upcoming trends, the essence of the brand, visuals of the key elements, who you are aiming the brand at, some marketing program highlights and the potential growth opportunities in terms of extensions      
Readings for the assessmentAll Lectures