BUMKT5901 Assignment (Individual)-1
Assignment One—Individual ReportThis assignment is challenging but will be rewarding in terms of building your knowledge of marketing and consumer behaviour theories.
The assignment has distinct stages:
1. Collect data on your own purchases for seven days;
2. Gain knowledge of consumer behaviour theories/concepts—lecture and reading of the set text and other marketing / consumer behaviour text and journals;
3. Discussions with other class members and the lecturer about how to record and analyse the purchase data; and
4. Write and submit the report.
Ideally, you should start collecting purchasing data no later than week 2. You will be provided with a sample (Excel file) of how to record your purchases that you can use as a guide’. This will also be available on Moodle. The more data you collect the better the analysis and hopefully, a better mark. You will also get to see a sample finished report to help you better understand what is required to obtain a high grade.
THIS ASSIGNMENT MUST BE DRIVEN BY THE ANALYSIS OF THE DATA YOU COLLECT ON YOUR SHOPPING
YOU THEN PUT YOUR SHOPPING BEHAVIOUR IN THE CONTEXT OF
MARKETING AND CONSUMER BEHAVIOUR THEORIES/CONCEPTS.
DO NOT WRITE A THEORETICAL PAPER TO WHICH YOU ADD A FEW
COMMENTS ABOUT YOUR SHOPPING.
Value: 20% of your final mark Due Date: Week-6, Thu 28 Aug 2014 before 6PM
Style: Business report Submission: Submission Link Available Length: 2,000 - 2,500 words Marking criteria: See marking rubric Detail: Handout on Moodle
Electronic Submission: When uploading assignment to Moodle please use the following file name protocol: Family Name_ID_Consumer Insight
Example: Toleman_30012345_Consumer Insight
Overview
The overall purpose of Assignment One is have you grasp the challenges of understanding the consumer and how an understanding of consumers is a key input into the development of an effective (the right type) and efficient (minimal or no waste) marketing mix strategy.
The most efficient way to approach this report is determine your key contention / insight (See Report Writing notes on Moodle) and then aim to develop a justification based on the material from your analysis.
You are writing a report to a consumer goods marketing manager who is:
• Time poor; will devote limited time to reading your report in detail
• Is seeking your insight on the behaviour of consumers
• Wants to use your insight in the development of a marketing mix strategy
1. Structure (see report writing notes to assist)
a. Cover sheet
b. Marking Rubric x 2 (one completed by you)
c. Title page
d. Executive Summary e.
Table of Contents
f. Introduction - (critical to see report writing notes)
g. Do sections 3 – 7 below h.
Reference list i. Appendix
2. Begin this task as soon as possible as this is a time consuming process. Track and detail every purchase you make in one week and note what occurred in the decision making process (DMP) and the influences on the DMP for every purchase decision.
a. These purchases need to be recorded in an Excel matrix (see Moodle).
b. The excel spread sheet must be included as an appendix in your assignment.
c. Note: The Excel spread sheet provided is a starting point. You are encouraged to add additional elements to the spread sheet based on your reading of marketing theory
3. Begin by describing yourself as a consumer.
a. For example, the consumer is a 25 year old male who has been married for 2 years, has a wife who also works part-time in health services, has no children, is in full-time employment as a professional manager, favours branded products— particularly for high tech products—rarely goes grocery shopping and prefers to search and buy online for as many products as possible’.
b. Note—this description is only an example—there may be other relevant aspects you could describe as well. You should aim to use the concepts of marketing, particularly consumer behaviour to profile your consumer. Use this profile as part or your analysis.
4. In the body of the report, analyse your overall purchasing behaviour (based on the data in the matrix). Your analysis MUST integrate marketing theory with an emphasis consumer behaviour theory.
a. We are looking for overall trends in behaviour. Cluster purchases based on theory and then analyse. Do not analyse each single purchase.
b. Note: it is critical that you use numbers to support your analysis where possible. You may choose to represent data in graphs, diagrams, etc but there must be analysis of these
Below are a number of questions that reflect critical thinking and may be applied to this section. These will take some time to reflect on and should not be rushed. They should be revisited a number of times to determine if your thinking or output has changed as a result of your learning.
Get a notebook and create a list of questions and jot notes, thoughts, ideas, etc. that come to mind as you progress through this process.
DO NOT use these questions as the structure for this section. Students who do this will be penalised heavily as doing so does not reflect independent thinking (See AQF Level 9 http://www.aqf.edu.au/wp- content/uploads/2013/05/AQF-2nd-Edition-January-2013.pdf )
Why am I being asked to do this part of the overall task? What insight about marketing are they hoping I come to as a result of doing this task? Why is it important that I come to this insight? How might it influence my understanding of the concepts, theories, frameworks, development or application of marketing? Why is this important in relation to this subject overall and to my degree? How does these help me do business better? How will the output of this task be of value to a consumer goods marketer? Why? CIS3002 Information
Is it possible to group, cluster or categorise purchases over the week into similar types? What patterns of behaviour can be observed?
Is there any theory that clusters types of purchases, types of products, types of consumers, type of purchase situations, and influences on purchases?
Is the overall model of consumer behaviour a useful tool to frame this analysis? Are there different interpretations / representations of the overall model of consumer behaviour / marketing textbooks (658.8 in any Library)? Is one model more relevant or appropriate for this task?
What triggers the consumer’s need for a product? Is this need always the same? What about the other influences; are they always the same? Are triggers of need / want different for different products? What are the triggers? Why are they different? Is Maslow’s
Hierarchy of Needs the only model that clusters needs? Are there other models? Are any of them more appropriate/ offer better explanation of what the consumer is experiencing? Can similar questions be asked of every step in the decision making process? If you do, what patterns emerge?
Does the consumer go through the same decision making process for every product? Do some purchases require more or less time to make a decision? Why? Are some steps in the decision making process skipped or omitted for different products? Why?
Are all influences on purchases equal in their influence or do some have a greater influence? Is the level always the same or does it change for different consumers or at different times or for different products? Can influences be ranked in order or importance? Weighted based on strength of influence?
Based on all the answers generated above, what would be one key contention or insight I would provide a consumer good marketing manager that would support, contribute to or enhance my overall insight for this report?
Can any of the information above be better represented in tables, graphs, or diagrams to enhance the reader’s comprehension of the material? Can I use numbers to more clearly reflect the scale, relative position or scope for any of the information I am presenting?
5. Nominate and describe a high-involvement product that you are likely to purchase in the near future or one that you recently purchased
a. Provide a detailed analysis of your purchasing behaviour for the nominated product.
b. Your analysis MUST integrate marketing theory with an emphasis consumer behaviour theory.
Below are a number of questions that reflect critical thinking and may be applied to this section. These will take some time to reflect on and should not be rushed. They should be revisited a number of times to determine if your thinking or output has changed as a result of your learning.
Get a notebook and create a list of questions and jot notes, thoughts, ideas, etc. that come to mind as you progress through this process.
DO NOT use these questions as the structure for this section. Students who do this will be penalised heavily as doing so does not reflect independent thinking (See AQF Level 9 http://www.aqf.edu.au/wp- content/uploads/2013/05/AQF-2nd-Edition-January-2013.pdf )
Why am I being asked to do this part of the overall task? What insight about marketing are they hoping I come to as a result of doing this task? Why is it important that I come to this insight? How might it influence my understanding of the concepts, theories, frameworks, development or application of marketing? Why is this important in relation to this subject overall and to my degree? How does these help me do business better? How will the output of this task be of value to a consumer goods marketer? Why?
Why have I selected this product as my nominated product? How and in what ways is it distinct from other products in my weekly purchase?
If I had to pick one thing that described how I approached the process or purchase or influence on the purchase of this product, what would it be? Why this thing and what were the other things I considered?
If I used an overall model of consumer behaviour in the section above, can it be applied to this product? If it is works the same what insight can I offer the reader? If it is different, how and in what way is it different?
What triggered the consumer’s need for this product? Is this need always the same? What about the other influences; are they always the same? Is Maslow’s Hierarchy of a relevant model? Are there other models? Are any of them more appropriate/ offer better explanation of what the consumer is experiencing? Can similar questions be asked of every step in the decision making process? If you do, what patterns emerge?
Would the consumer go through the same decision making process every time they purchased this product? Why? Are some steps in the decision making process skipped or omitted for different products? Why?
Are all influences on the purchase equal in their influence or do some have a greater influence? Is the level always the same or does it change for different consumers or at different times? Can influences be ranked in order or importance? Weighted based on strength of influence?
Based on all the answers generated above, what would be one key contention or insight I would provide a consumer good marketing manager that would support, contribute to or enhance my overall insight for this report?
Can any of the information above be better represented in tables, graphs, or diagrams to enhance the reader’s comprehension of the material? Can I use numbers to more clearly reflect the scale, relative position or scope for any of the information I am presenting?
6. Compare and contrast your buying behaviour for the products purchased over the week with your buying behaviour of your nominated product. i.e compare and contrast analysis from #3 & #4.
Below are a number of questions that reflect critical thinking and may be applied to this section. These will take some time to reflect on and should not be rushed. They should be revisited a number of times to determine if your thinking or output has changed as a result of your learning.
Get a notebook and create a list of questions and jot notes, thoughts, ideas, etc. that come to mind as you progress through this process.
DO NOT use these questions as the structure for this section. Students who do this will be penalised heavily as doing so does not reflect independent thinking (See AQF Level 9 http://www.aqf.edu.au/wp- content/uploads/2013/05/AQF-2nd-Edition-January-2013.pdf )
What does compare and contrast mean? Why am I being asked to do this part of the overall task? What insight about marketing are they hoping I come to as a result of doing this task? Why is it important that I come to this insight? How might it influence my understanding of the concepts, theories, frameworks, development or application of marketing? Why is this important in relation to this subject overall and to my degree? How does these help me do business better? How will the output of this task be of value to a consumer goods marketer? Why?
What possible contention or insight be generated from this analysis?
What overall differences exist between the two different sets of purchases? What are the overall similarities? Why do these differences and similarities exist? Is there a marketing or consumer behaviour theory that helps frame or explain this?
Whatever insight I come up with in comparing and contrasting the two sections, would it be constant over time? Would it be the same for all consumers? Why or why not?
In comparing and contrasting the two sections, is there an insight that will have an impact on the development, execution or management of the marketing mix strategy for a consumer goods company? Would the insight be the same for all consumer goods companies? Would its value alter depending on type of product (good or service) size of company or different target segments?
7. Provide a key (single) overall contention / insight and justification (use theory to support) regarding what you have discovered in #5.
a. Briefly explain to a consumer goods marketing manager why this insight might be useful.
Below are a number of questions that reflect critical thinking and may be applied to this section. These will take some time to reflect on and should not be rushed. They should be revisited a number of times to determine if your thinking or output has changed as a result of your learning.
Get a notebook and create a list of questions and jot notes, thoughts, ideas, etc. that come to mind as you progress through this process.
DO NOT use these questions as the structure for this section. Students who do this will be penalised heavily as doing so does not reflect independent thinking (See AQF Level 9 http://www.aqf.edu.au/wp- content/uploads/2013/05/AQF-2nd-Edition-January-2013.pdf )
Whatever my key contention, is there are weight of evidence within my analysis and contentions above that would lead the reader to agree with me.
Does my contention reflect a logical sequence of ideas that are connected together in a meaningful way?
Why might my contention / insight be of interest or value to a consumer good marketing manager? How might it help as in input to their decision-making relating to the development, execution or management of their marketing mix strategy? If it is of value, how might I “prove†this?
Who is the consumer goods marketer? Will my insight differ depending on the type of product, size of company, competitive dynamic or type of target segment?
If the reader were to ask questions about my contention/insight what questions would they ask and where in my report would I find the answer to support my answer in this report.
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