2306: The SMT has Asked you to Take Responsibility for Improving Customer Loyalty With the Objective of Creating Growth: Creating Entrepreneurial Change Assignment, CIM, Singapore

CIM Level 7 Postgraduate Diploma in Professional Marketing

Theme 1: Customer Loyalty

The SMT has asked you to take responsibility for improving customer loyalty with the objective of creating growth or sustaining existing revenue for a key customer segment.

You will consider the impact of the macro/microenvironment and undertake a competitor, risk and impact analysis to critically assess customer loyalty innovations in the market sector.

You are required to undertake an innovation capability audit and consider approaches for idea generation approaches to support the objectives for improving customer loyalty.

You will also be required to create Value Proposition Canvases for two innovations, consider measurement techniques and move on to recommend a change management strategy to achieve the objectives.

Theme 2: Customer Acquisition

The SMT has asked you to take responsibility for improving customer acquisition with the objective of creating growth or sustaining existing revenue for a key customer segment.

You will consider the impact of the macro/microenvironment and undertake a competitor, risk and impact analysis to critically assess customer acquisition innovations in the market sector.

You are required to undertake an innovation capability audit and consider approaches for idea generation approaches to support the objectives for improving customer acquisition.

You will also be required to create Value Proposition Canvases for two innovations, consider measurement techniques and move on to recommend a change management strategy to achieve the objectives.

Theme 3: New Product/Service Development

The SMT has asked you to take responsibility for developing new products/services with the objective of creating growth or sustaining existing revenue for a key customer segment.

You will consider the impact of the macro/microenvironment and undertake a competitor, risk and impact analysis to critically assess new product/service innovations in the market sector.

You are required to undertake an innovation capability audit and consider approaches for idea generation approaches to support the objectives for new product/service development.

You will also be required to create Value Proposition Canvases for two innovations, consider measurement techniques and move on to recommend a change management strategy to achieve the objectives.

Theme 4: New Markets

The SMT has asked you to take responsibility for new market development with the objective of creating growth or sustaining existing revenue for a key customer segment.

You will consider the impact of the macro/microenvironment and undertake a competitor, risk and impact analysis to critically assess new market innovations in the market sector.

You are required to undertake an innovation capability audit and consider approaches for idea generation approaches to support the objectives for developing new markets for existing products/services.

You will also be required to create Value Proposition Canvases for two innovations, consider measurement techniques and move on to recommend a change management strategy to achieve the objectives.

Disruptive strategies

In line with the theme you have selected for this assignment, you are required to carry out the following.

Provide a background to your chosen organisation, including:

·organisation name

· organisation information – to include the type of organisation, size of the organisation, range of products and services, customer base and main competitors.

· stakeholders – summary of the organisation’s key internal and external stakeholders

·  key customer segment – an overview of the selected key customer segment

·  theme chosen and rationale for the choice.

b. Evaluate, through the use of examples, the TWO aspects of the macro or microenvironment that have had the most substantial impact on your chosen organisation during the past five years.

c. Explain the concept of disruptive innovation and critically assess using competitor, risk and impact analysis how innovation has impacted the market sector.

Entrepreneurial innovation

In line with the theme you have selected for this assignment, you are required to carry out the following

a. Undertake an innovation audit to analyse the organisation’s culture agility, skills, leadership and resources. Using this audit, critically analyse the organisation’s innovation capability for developing and managing change.

b. Evaluate THREE entrepreneurial approaches that could be used to support the objectives. Your answer will include a critical evaluation of idea generation techniques, including mind mapping, creativity techniques and horizon scanning.

Transformational change

Create TWO annotated Value Proposition Canvases that evaluate TWO innovations for adding value and achieving the objectives.

Recommend TWO appropriate measurement techniques to measure the potential impact of the implementation of your TWO innovations within the organisation.

Recommend, with justification, a change management strategy for improving the innovation culture within the organisation, identifying the potential benefits and barriers to implementing this strategy.