Description

The report has several sections:

Provide a detailed description of a key trend focusing on a unique problem or opportunity of consumers unmet needs. You are to specifically analyse the industry that is impacted by the key trend.

You then create a detailed novel solution based on the identified opportunity or problem within the key trend identified in part $1$ above. You should explain in detail how the novel solution differs from existing offerings and from potential competitors. A novel solution is defined here as something that is new and innovative and can be an international solution $($i$.$e$.$ sold in a different country$)$ if relevant.

A key focus of the Initial Idea Report is to concentrate on the customer. Here you provide a comprehensive explanation of your target customer using the Value Proposition Canvas $($VPC$)-$ refer to A$2$ support materials. You should provide a detailed narrative explaining the content contained within the Value Proposition Canvas.

Lastly, you will illustrate the novel solution's value through the creation of a completed business model canvas $($with a minimum of $3-5$ dot points for each pillar$).$ A brief narrative is to be provided that provides a synopsis of the nine pillars of the BMC$.$

Sample layout:

Cover Page Name S$-$number word count.

Introduction

Key Trend

Identify and describe the key trend and why it is important to you and potential stakeholders. Where appropriate, use figures and tables to illustrate changes. Next, evaluate and describe who it impacts.

Industry $($or Industries if relevant$)$

Outline the industry where the key trend is occurring and provide industry statistics and data to highlight and justify why you believe it is a trend. Where appropriate, use figures and tables to illustrate changes and shifts of behaviour within the industry.

Problem or opportunity of consumers unmet needs

Highlight what the problem or opportunity that you have identified in the specific industry where this key trend occurs.

Proposed Novel Solution

Details of the novel solution: Explain what the solution is provide images, draft drawings if appropriate. Highlight how the solution is linked to the challenge$/$opportunity within the key trend previously identified.

Innovativeness of the solution: Explain how the solution is unique, novel, or different.

How the solution differs from competitors: Identify your competitors: existing or potential and explain how your solution is unique, novel and$/$or different from your competitors.

Customers

Identify who your customer$($s$)$ are. If you have more than one type of customer identify them here however choose only one to explain in detail.

Using the Value Proposition Canvas provide a comprehensive narrative to explain your customer.

Business Model Canvas

Using the solution identified in section $2$ above $$Proposed Novel Solution$,$ sketch out the idea using the Business Model Canvas Template.

Provide a minimum of $3-5$ dot points on each of the nine pillars.

Provide a brief narrative that provides a synopsis of the nine pillars and outline how the solution creates value for the customer identified in section $3.$

Reference list and Appendices $($if relevant$).$