1 Background to the Module
Welcome to Consumer Insights!
Consumer insights was designed to help you understand people in their role as customers and the underlying reasons as to why they buy goods and services. The module will explore the context in which marketers operate (e.g., organisational contexts profit/non-profit, differences in needs/wants/values and segmentation, targeting and positioning) and the key factors that influence consumer dynamics both individual (e.g., motivation, learning, perception, attitudes, lifestyles) and group (opinion leaders, reference groups, culture). You are encouraged to think deeply, to question evidence and read widely from journal articles and other mediums of communication. You will process this evidence to recommend how marketers might enhance the consumer experience through examining the consumer decision making process.
2 Aims and Objectives of the Module
- LO1: to demonstrate a critical understanding the demographic, psychographic, sociocultural and economic factors influencing consumer dynamics in contemporary scenarios
- LO2: to critically evaluate the psychological, social, cultural and technological factors that shape consumer decision making
- LO3: to critically analyse and debate contemporary issues in consumer dynamics through various forms of communication
- LO4: to undertake critical evaluations of scholarship on consumer dynamics and
exercise autonomy and professional initiative by making evidence-based recommendations
- LO5: to investigate and analyse how key social and psychological issues impact consumer purchasing behaviour
3. Assessments 1 & 2
The assessments for this module comprise of the Report (60%) and an Oral Pitch (40%).
3.1 Assessment 1 Report
This assignment has been developed so that it can be applied to organisations of all sizes and sectors. As a Marketing Executive, you have been asked by your manager to develop insights into customer behaviour and recommend improvements that will benefit both the customer and the organisation.
The ability to acquire a new customer segment is based on a clear understanding of the needs of potential customers and their expectations of the experience that they will receive. Your manager has asked you to develop insights into how the needs of a specific new segment can be met.
You will need to consider the behaviour of potential customers and the influences on their behaviour. You will then need to review the customer experience offered to them, and how it could be enhanced to meet the needs of this segment, as well as gaining insight into future behaviour.
You are required to conduct the following:
A. Situational analysis (20%)
Provide a background to your chosen organisation which includes:
Organisation name, type of organisation and size (e.g., SME, MNE)
- Range of products and services, customer base and main competitors
- Key customer segment (a clear description of the selected customer segment)
- Outline of any stakeholders (both internal and/or external to the organisation) relevant for defining the customer segment)
Start your research by looking at popular media sources and Euromonitor are reliable sources for industry analyses. These resources can be accessed via ENU library.
B. Segmentation (20%)
Detail the approach to segmentation, targeting and positioning that has determined your choice of key customer segment in Task 1A to achieve competitiveness within the marketplace (10%)
C. Theory (30%)
Outline ONE key individual factors and ONE group influences affecting the behaviour of the key customer segment and discuss how these factors influence the behaviour of the key customer segment.
You are required to make an informed, evidence-based choice as a marketing expert. You will critically discuss the individual factors and group influences that are most applicable to your key customer segment. You are required to reference theory and research to justify your decisions and should:
Incorporate behavioural theories, concepts and academic studies
- Key Journals: Journal of Consumer Research, Psychology & Marketing, Journal of Marketing, Journal of Retailing, and many, many more.
D. Applied Recommendations (20%)
Based on your analysis, in tasks A, B & C, you should make evidence-based, practical recommendations relative to the organisation and industry sector. Specifically, detail how the organisation might enhance the customer experience offered to the key customer segment.
E. Presentation and Referencing (10%)
Report Format Guidelines
- Cover Sheet (see Assessment tab in Moodle)
- Table of contents with page numbers
- MAXIMUM total length 2,500 words (+/-10%).
- All diagrams, statistical tables, etc. must be cited in your article and as your arguments proceed. The report should be properly Word formatted using Times New Roman or Ariel font size 12 with 1.5pt line spacing and, preferably, be centre justified.
- Referencing: All information sources must be properly cited both in the body of the essay and at the end of the essay in the bibliography using the APA 7th Referencing System. For full guidelines, see: APA Referencing System link on Moodle.
- Submission: You will submit your essay using a Turnitin link available on Moodle under the ‘Assessment Submission Area’ section.
YOUR MARK WILL BE AVAILABLE ON MOODLE NO LATER THAN THREE WEEKS AFTER THE ASSINGMENT SUBMISSION
Q & A:
1. How to choose your organisation
- Your chosen organisation could be one that you currently work for or an organisation that you are familiar with to enable you to apply your learning to the assignment tasks. Before starting the assignment, please go through all assessment tasks to make sure you that you will be able to apply these to your chosen organisation.
- 2. How to approach each task
- As a consultant, you must select the content which is appropriate to your chosen organisation. This should be discussed referring to the organisation and market sector.
- 3. Should the maximum word count be adhered to?
- The 2, 500-word count is intended to assist you to produce a professional business document of appropriate length that is useable in the workplace. You should write in a professional tone and only contain information relevant for directly answering the task.
- Should figures and tables be included in the main body?
- Yes. Unless they are extremely large. In this case, they should be in the appendices after the reference list.
- 5. Should I include a table of contents and cover page?
- Yes. You should include the report cover sheet which can be found under the assessment tab on Moodle, followed by the table of contents.
- 6. I have not drafted a report before, is there support available?
- There is a lot of support available