Shark Den-Business Innovation:

CAT
Business & Economics
Year 9 - 2023
 CAT Description Components
The Innovation Business Plan The Marketing The Pitch
(Template)
TASK: • What is your company, • Who is your target • How will you market • How much investment
- Working in groups of 2-3 , service, or product? demographic? What is your product? you are seeking from
Provide a detailed your customer profile? Traditional, online or the sharks and what
create a Shark Den description (what • How will your company, blended strategy? that money will be used
presentation of 5-7 minutes to function it serves, how service, or product • Provide 1 example of for?
seek investment for an it operates etc.) meet your customers’ marketing materials: • How can you present
• Do you have a logo? needs and wants? Poster, billboard, social the ideas from the
innovative company, service, or Provide images that • What are your material media, previous components in
product. represent your and production costs? an engaging and
company, service, or • What pricing strategy interactive way?
- This may be something product. will you use? Cost-plus, • Be ready to answer one
completely new, or a variation • How is your company, competition or market- question from your
on something that already service, or product based? shark.
innovative in its field? • How will customers
exists. • What is the company, access your company,
• Presentation Date: service, or product’s service, or product?
01/11/23 – 02/11/23 competitive advantage? Why?
How does this make it
superior to your
competitors?
 CONDITIONS:
• Presentations must run for 5-7
minutes
• 7 periods of class time will be
provided
• All group members must contribute
to all components
• All work must be in your own
words. All written content is subject
Victorian
to AI content checks and the
Curriculum
BSC plagiarism policy
Links

Explore the nature of innovation and discuss how businesses seek to create and maintain a
competitive advantage in the market, including the global market.

Identify the ways enterprising behaviours and capabilities can be developed to improve the work
and business environments.

Generate a range of viable options, taking into account multiple perspectives, use simple cost-
benefit analysis to recommend and justify a course of action, and predict the intended and
unintended consequences of economic and business decisions.
Rubric
Example Shark Tank
Groups
 Brainstorm Ideas with your group

• In your groups come up

with as many ideas for
your pitch.
• Nominate your top 3
ideas and decide on a
final idea together.
 Vision
The long-term ambition for
your business

Brand Purpose

Strategy
Your ‘why’ – it’s your main
reason for being in business

Values
TO DO: The behaviours that your
• Refer to the ‘Branding your business’ business values
content on Business Queensland and
work through each of the brand
elements. Promise
• Assess your ideal brand positioning Your compelling
against the 3 Cs: true to your company, commitment to everyone
compelling to customers and different
from competitors.
REMEMBER: Personality
• This is a behind-the-scenes toolkit to Your voice – your tone,
help you evaluate your business manner and style
decisions.

Proof
Your evidence – emotional
and rational benefits
 Think about what

Customer Profile you know about

your target
Key variables Your customers customers. Add
brief notes in the
Demographic fields below to
• age
• gender create customer
• marital status profiles to help you
• income segment your
• education market.
• occupation
Psychographic
• personality (e.g., outgoing, conscientious)
• lifestyle (focus of everyday routines, e.g., work,
health or family)
• values (e.g., animal welfare, fair trade or
sustainability)
• interests (e.g., hobbies)
Behavioural
• usage or buying behaviour (e.g., daily or seasonal)
• channels (e.g., buying instore or online)
• benefits valued (e.g., price, convenience or quality)

Geographic
• country
• state
• region
• suburb
 Competitor Profile
Create a profile
of your
competitors by
adding brief
Key factors Competitor A Competitor B Competitor C notes.

Business profile
(e.g., history, locations,
employees, customers)

Products & Services

(e.g., range, distribution and
brands)

Pricing model
(e.g., prices and payment
options)

Customer service
(e.g., standards, reputation
and online ratings and
reviews)
 Competitor Profile continued
Customer service
(e.g., standards, reputation and
online ratings and reviews)

Supply chain
(Whose products do they sell?
Are they an exclusive
distributor?)

Brand difference
(What gives them an advantage
– are they the cheapest, fastest,
biggest, etc.?)

Marketing approach
(Their channels and messages.
Review their social media,
website, and presence in local
media.)
 What to do:
7 Ps of Marketing Remember to:
• Look at each of your 7 Ps of marketing. • Look at your marketing mix from the customer’s point of view
• Think about your strengths and weaknesses. • Consider how all the elements of your marketing mix work
• Identify and prioritise the improvement areas. together
• Look for ways to deliver a unique and relevant experience.
Marketing mix You could ask yourself Key actions

Product Do we need to make changes to our

product or service?

Price Should we review and consider

different pricing models?

Place Can we improve or expand our

distribution options and sales
channels?

Promotion How can we make better use of

paid, owned and earned media?

People Who are our people, and how do we

increase their capability?

Process Can we improve the way we interact

with customers?

Physical Do we represent our brand

evidence consistently across all our channels?
 To do:
Marketing strategy
• Refer to the marketing strategy content on Business Queensland and work through the key sections.
• Ensure that your strategic approach will connect with the right customers and make the most of your investment.

Objectives Segments Positioning Programs

Set clear, realistic & measurable Research your existing customers Who you are and how you’re List your marketing programs.
business objectives and profile your selected target different. Consider the customer Remember the 7 Ps of marketing
segment value proposition
 Marketing Materials
1. Provide 1 example of marketing materials: Poster, billboard, social media, etc
Business Plan
Summary
• Use the
template
available in
compass
resources.
 Model
Business
Summary
Create a model business
-
summary using the
template on compass.
- This must be displayed
during your pitch
- Example provided 
Get ready to
pitch!