Group Assignment 2:
Why this task?
The purpose of this assignment is to help you:
a) apply consumer behaviour concepts to specific situations. The use of a real product will “bring to life” the material covered in this course.
b) develop your written skills and ability to think critically and creatively.
c) cultivate your research skills
What do I need to do?
Process:
Working in groups, you are required to demonstrate the application of consumer behaviour concepts at various stages of a company’s marketing planning process.
Specifically, your report should include the following:
1. Introduction
a) Who founded the company and what is its current status?
b) Describe the company’s principal product (or products) in terms of features and benefits.
c) Has the product gone through any modifications?
d) What stage of life cycle is this product currently in? Cite evidence such as trends in sales and profits, the nature of competition, and the types of marketing strategies.
2. Identification of target market(s)
a) Who is (are) the primary target market(s) for this product? Describe these markets in terms of demographic, psychographic, and other relevant characteristics
b) Are there any potential market segments you would recommend for this product? Describe these segments in terms of demographics (e.g., subcultural, social class, family life cycle stage, etc.), psychographic (personality, AIOs, and/or lifestyle such as VALS2 or Claritas geodemographics, etc), and behavioral (benefits sought, deal proneness, heavy usage, etc.)
c) Examine ads or commercial transcripts/descriptions, packages, and any other relevant marketing artefacts of the product. Comment on the company’s marketing/advertising campaign in terms of the sociocultural and psychological impact it may have on the consumer, citing specific consumer behaviour concepts. Which market segments (demographics, psychographics, and/or behavioral) are they attempting to reach? How is the marketer trying to appeal to the consumer using consumer behaviour terms? How is the ad trying to position the product?
3. Consumer decision making processes
a) What type and amount of information about this product do its consumers use? How involved are they? Which level of decision making are they in?
b) How do consumers evaluate different brands in this product category?
c) How do consumers go about shopping for this product?
d) How do consumers dispose of this product after its usage?
e) Explore other relevant consumer behaviour concepts here such as, level of involvement, level of decision making, type(s) of consumer purchasing decision situations, sources of information consulted, criteria used in making a purchase decision and their relative importance, sociocultural and other environmental influences, psychological influences, attitudes, social class factors etc.)
4. Recommendations for the future of the company. (If no changes are suggested on any of the following areas, explain why the firm’s current strategy will probably be “on target” in the foreseeable future).
a) Target market and/or positioning changes
b) Product decisions
c) Pricing decisions
d) Distribution decisions
e) Promotion decisions
5. Graphs, charts, diagrams, pictures, product samples (if feasible), ads/Web sites, bibliography, etc.
REPORT CONSTRUCTION
Word Guide – 2,000 words
You are welcome to modify the relative contribution in each section of your report.
The word count applies to the main body of the report, but not to any data or documents you append to the report.
Referencing
Wherever you introduce a concept, tool or opinion, this should be referenced.
The university’s style guide utilises the Harvard Referencing System as outlined in information provided early in the BB(M) program and available on the DLS.
How will the task be assessed?
This task will be marked according to the criteria detailed below.
Poor
Fair
Good
V.Good
Excellent
Introduction
Company, Product, PLC application
Target Market Description
· Identifying and substantiating the application of Segmentation
Consumer decision making process
· Application of the steps in a CDM process and the effect of other variables on this process. Substantiate observation.
Recommendations
Appropriate application of theory
Quality and extent of research
Clarity of expression
Depth of critical analysis
Credit:ivythesis.typepad.com
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