Assignment 1 The task Your first assessment task asked you to reflect on and write about the concept of Value Co- creation. There are a number of organisations that are known to have implemented this concept successfully and it has been particularly incor

Assignment 1

The task

Your first assessment task asked you to reflect on and write about the concept of Value Co- creation. There are a number of organisations that are known to have implemented this concept successfully and it has been particularly incorporated into the not-for-profit or social justice area of business. Read this article about how co-creation is the future for social entrepreneurship. http://www.forbes.com/sites/ashoka/2014/02/04/why-co-creation-is-the- future-for-all-of-us/

Also visit the Ashoka change maker’s website and in particular look at the projects that they are associated with http://www.changemakers.com/co-creation. There are many other similar sites such as ProBono Australia.

One Not-for-profit organisation, Promise or Pay, is looking to improve awareness of their organisation with potential donors and also to ensure that they have positioned themselves as a relevant and viable option for people to engage in social good. Specifically they are looking for assistance with spreading the word about Promise or Pay through a variety of creative, marketing efforts. In particular they wish to capitalize on social media, email oriented campaigns and the planning of promotional activities to inspire positive social impact.

Promise or Pay has been selected into the INCUBATE program, an award-winning startup accelerator and entrepreneur program and as such they need to develop their new marketing campaign in the next 3 months. Visit their website for more information http://promiseorpay.com/

What is Promise or Pay?

Promise and Pay believe that one promise can make a huge difference. Their vision is to use personal promises to drive real, wide-scale social change. Their aim is to use the nexus of mobile technology, online payments and behavioral science to inspire millions of people from all over the world to be the best they can be and, at the same time, encourage and facilitate millions of dollars in donations to charity.

As a very young social enterprise, volunteering is at the very heart of what they do. They are committed to ensuring that anyone who gives their time feels valued, understood and proud to be part of Promise or Pay. By volunteering with Promise or Pay you people will change the lives of others by offering them an innovative tool to achieve their goals and change the world for the common good.

Description	Marks out of	Wtg (%)	Due date
Assignment 1 – Max 2,000 words	100	40	01 September 2014

Promise and Pay have commissioned you to provide them with some answers and advice in relation to the following specific questions that ultimately will assist them to achieve their goals.

Format

As Promise and Pay is looking for assistance in this program through the unitisation of a range of creative marketing efforts, the format of this assessment is open for your own creative interpretation as long as you address each of the specific questions using appropriate theory from the modules studied in your course to date. You must provide an appropriate list of references for any work you have cited in the submission. Your work will be judged on the appropriateness of the communication style used and the technical elements of your writing and the degree and completeness with which you address the specific content areas.

1.Who should Promise or Pay target in their new marketing campaigns and how can an understanding of the decision psychology of these target markets help Promise and Pay to develop a profile of their various segments. In particular how can Promise or Pay use this information to design marketing campaigns that will encourage greater participation and interest by these groups in their programs?

2.How should Promise or Pay position itself in this/these market(s), specifically

considering their brand values, competitors and value proposition? 3.How can Promise or Pay ensure a strong presence in the market through its

communication and social media strategies and specifically consider whether and how co-creation strategies could be employed to gain competitive advantage in this space? 4.Nominate one or two professional or corporate alliances that you would recommend Promise or Pay should cultivate as potential investors and supporters of the program and how are their needs and decision criteria likely to differ from that of the consumer market?