Unit 2: Innovative Marketing 

Learning Outcomes The learner will:

Assessment Criteria The learner can:

Indicative Content

3. Apply principles of innovation throughout the marketing function

3.1 Assess how the marketing function can develop innovative approaches to current market challenges

• Cross-functional and self-managing teams
• Learning, training and development
• Information sharing
• Support of innovative business models
• Adaptive/flexible approaches
• Use of appropriate market research techniques and sources of information
• Use of innovation networks

3.2 Determine how innovative approaches can lead to enhanced product/service development

• Generating ideas
• Screening
• Business analysis
• Development of a small-scale trial (usually technology supported)
• Testing techniques
• Commercial launch
• Effective exit routes for unsuccessful ventures

3.3 Determine how stakeholder relationships can be better leveraged through innovative approaches

• Customer relationships – eg, conducting user trials, involving leading practitioners and other forms of co-creation
• Engagement of suppliers and wider networks
• Managing different types of innovation networks including ideagoras, crowdsourcing, online forums and other open platforms

Learning Outcomes The learner will:

Assessment Criteria The learner can:

Indicative Content

4. Develop a business case for a marketing related innovation

4.1 Evaluate the options for innovation

• Product/service/process/programme
• Business model
• Out-sourced vs internally implemented
• Adaptable/flexible/agile
• Benchmarking
• Collaborative/partnerships
• Assessing acceptability, feasibility or suitability

4.2 Analyse the risks and benefits of an innovation proposal

• Risks and benefits of the proposal
• Strategic/operational/tactical
• Financial
• Reputational
• Competition

4.3 Develop a business case for change

• Factors driving change
• Scope of change required
• Recognition of need for change and commitment from stakeholder groups
• Structure the business case
  • Project proposal