1.2 Analyse the business opportunities and challenges available within markets

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Unit 1: Innovation 

CIM Level 6 Award in Innovation in Marketing (VRQ)

Innovation in Marketing is a 17-credit mandatory module which sits within the suite of Level 6 modules.

Learning Outcomes The learner will:

Assessment Criteria The learner can:

Indicative Content

1. Understand how innovation and disruption are influencing organisational growth

1.1 Assess how innovation is changing the external market in which organisations operate

  • Environmental scanning, trends, discovery theory
  • Disruptive innovation and digital disruption
  • Emerging economies and innovations
  • Competitive advantage – new competitive approaches


1.2 Analyse the business opportunities and challenges available within markets

  • Intuitive, ‘gut feel’, insights
  • Discovery-driven planning
  • Traditional business plans
  • Developing business models
  • Internal and external approaches
  • Business process re-engineering


1.3 Identify the challenges faced by an organisation in developing and implementing innovative strategies

  • External environmental factors
  • Competition
  • Leadership buy-in
  • Budget/Capital requirements
  • Resistance to change

2. Assess the key factors that facilitate innovation in organisations

2.1 Analyse the key features of an innovative organisation

  • Vision and styles of leadership
  • Organisational structures
  • Key individuals and team working
  • Creative climate/culture
  • External focus – market orientation, boundary spanning and networks


2.2 Apply the different dimensions of innovation to an organisation’s marketing approach

  • Invention, creativity and innovation
  • Disruptive and sustaining innovations
  • Product, process and platform innovation
  • Open and closed approaches to innovation
  • Radical and incremental forms of innovation
  • Market pull vs. technology push
  • Business model innovation

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