BMG945 Marketing Innovation Case Study: Innovating the Housing Crisis

 The housing crisis in the UK and Northern Ireland represents a multifaceted challenge with deep-seated economic, social, and political implications. At its core, the crisis is characterized by a severe imbalance between housing demand and supply, exacerbated by rising prices, a shortage of affordable homes, and regional disparities.

The UK has faced a persistent shortfall in housing construction. Government reports and industry experts indicate that the annual housing supply has consistently fallen short of the estimated demand. According to the Ministry of Housing, Communities & Local Government (MHCLG), the country needs to build around 300,000 new homes annually to keep up with demand, but recent figures suggest that actual completions are often lower than this target. This shortage is partly attributed to planning delays, high land costs, and a lack of available land for development.

The affordability of housing has become a critical concern. House prices have surged in recent years, driven by low interest rates, speculative investment, and limited supply. Data from the Office for National Statistics (ONS) highlights that average house prices in England have more than doubled over the past decade, placing homeownership out of reach for many, especially first-time buyers. In Northern Ireland, the situation is similarly dire, with prices rising significantly despite slower overall growth compared to England.

The crisis is unevenly distributed. London and the South East are particularly affected, with exorbitant property prices and a stark divide between wealthy and less affluent areas.

Meanwhile, regions like the North East and Northern Ireland face their own challenges, including economic stagnation and slower house price growth, which still do not necessarily translate to affordability for local residents.

The UK government has introduced various measures to address the housing crisis. Initiatives such as the Help to Buy scheme, affordable housing programs, and changes to planning regulations aim to stimulate housing construction and support first-time buyers. However, critics argue that these measures often fail to address the root causes of the crisis and that more comprehensive reforms are needed, such as increased investment in social housing and more robust planning policies.

The construction industry highlights ongoing challenges such as labour shortages, increased material costs, and regulatory hurdles. These factors contribute to delays and cost overruns in housing projects, further complicating efforts to meet housing needs.

In summary, the housing crisis in the UK and Northern Ireland is a complex issue marked by insufficient supply, escalating prices, and regional inequalities. While government initiatives and industry efforts aim to alleviate the problem, significant reforms and sustained investment are essential to effectively address the housing shortfall and improve affordability for all residents.

There are many stakeholders who are affected by or can affect change in the housing crisis such as:

• Homebuyers/ renters
• Housing associations
• Builders
• Financial institutions
• Government
• Charity

Your task is to select one of these stakeholders and develop a marketing innovation addressing the housing crisis from perspective.You will need to emphasise with that group and put yourself in their shoes, imagining the problem from their perspective and develop a range of ideas that could be a solution towards addressing the housing crisis. You will work as a group to develop your idea into a business model outlining the core elements of the marketing innovation in a report. You will work then work individually to develop the marketing plan to take this innovation to market.

CW1 (Group – 4000 words)

You must work in groups of between 3 and 6 members and use the above case study scenario to develop a report including the following:

1. An introduction (300 words)
   1. An Empathy Map (up to 400 words) and Value Proposition Canvas (up to 300 words)
   2. Synthesise and explain the main points from these tools (400 words)
      1. Select an idea from the individual ideation activities (see below) and discuss and justify the idea chosen for the BMC (400 words)
   3. Business Model Canvas (BMC) (1000 words)
   4. Explain the concept from your business model (1000 words)
   5. Conclusion (200 words)
   6. Appendices (excluded from wordcount)

To complete task 4, each student should use Design Thinking tools to ideate for the BMC. Each student should include a 1000 word discussion on the ideation tools used and critique of ideas created and upload their individual work via the Turnitin link on BBL.

The group should evaluate all the ideas generated through the ideation process and select an idea to develop into a business model using the Business Model Canvas. The group should work together to complete the report based on the above outline.

There should be appropriate in-text reference support throughout the assignment, a table of contents, headings and subheadings throughout. The wordcount excludes the cover page, table of contents and appendices. Given that there is an individual component to the assessment, each group member will receive a different final mark.

CW2 (Individual - 2500 words)

You are required to develop a marketing plan to launch the innovative business model developed in CW1. The marketing plan is based on the G-STIC framework, however you are not required to include the implementation section. Your report must include: