! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! MKT101:!Marketing!Principles!and! Practices! Assessment!3! ! ! Assessment!task! As!students!of!marketing!we!examine!products,!markets!and!communication!programs! to!understand!the!interplay!between!consumers!and!stimuli!in!the!process!of!purchasing! goods!and!services.!!Also,!we!need!to!understand!the!psychology!of!why!people!buy! what!they!buy!and!what!steps!do!consumers!take!in!order!to!purchase!a!product!or! service.!This!assessment!aims!to!further!that!study!by!critically!analysing!consumer! buying!behaviour.!!This!assignment!allows!students!to!demonstrate!their!ability!to!apply! theoretical!knowledge!when!analysing!a!‘real!life’!situation.!This!method!aims!to!bridge! the!gap!between!classroom!learning,!self?study!and!the!‘real!world’.! ! Purpose!of!this!project! The!purpose!of!this!mini?project!is!to!increase!your!understanding!of!the!process!of! market!research!and!its!application!in!understanding!consumer!behaviour.! This!assessment!asks!you!to!compare!two!different!types!of!consumer!products! including:!a!banking!product!(such!as!insurance,!a!home!or!personal!loan!or!a!savings! account!for!example)!and!a!convenience!product!(such!as!a!supermarket!item!like!a! box!of!breakfast!cerealD!personal!toiletry!product!or!other!grocery!item!for! example).!!Find!an!advertisement!for!each!of!these!products!(examine!magazines,! catalogues!or!on!the!Internet!and!include!copies!of!the!advertisements!in!your! assignment!as!Appendices).!We!suggest!that!you!find!an!ad!for!the!bank!you!currently! use!and!an!ad!for!a!convenience!product!that!you!regularly!purchase!as!you!will!have! more!personal!knowledge!of!these!products.! ! For!the!two!ads!you!need!to!compare!your!analyses!based!on!the!following!points:! ! 1.!Firstly,!compare!the!ads!and!their!brands!and!products!–!based!on!your! assessment,!at!which!demographic!market!segments!are!the!ads/products! aimed?!!You!can!make!assumptions!by!looking!at!the!types!of!people!shown!in! the!ads!(for!example,!male!or!female,!families,!young!professionals,!older/elderly! people)!or!perhaps!the!ad!states!that!this!product!is!only!to!be!used!by!those! over!18!or!those!over!55!years!old!for!example.!!However,!you!develop!your! conclusions,!you!need!to!support!your!ideas!with!reference!to!the!ads!and!also!to! other!sources!of!information.!!For!example,!you!could!first!define!the!term! ‘demographic!segmentation’!from!a!reference!source!and!then!use!the!definition! elements!to!identify!elements!in!your!ads.!!Consider!gender,!age,!income,!family! structure,!perhaps!education,!etc.!in!your!discussion.! ! 2.!Now!that!you!have!some!background!knowledge!of!the!brands/products,!your!next! task!is!to!develop!your!understanding!of!consumer!behaviour.!!Develop!a! definition!of!consumer!behaviour!and!discuss!the!issues!around!5!stages!of! Type! Business!report! Due! 11.59PM!Sunday!of!Week!10! Word!Length! 1,500!words!(Not!including!title!page,! executive!summary,!table!of!contents,! references!or!appendices)! Weighting! 20%! ! consumer!buying!decision!process!in!relation!to!your!chosen!brands.!This!will! constitute!your!‘review!of!the!current!literature’!on!consumer!behaviour.!!Use! academic!sources!(perhaps!start!with!Google!Scholar!)!to!support!and!reference! your!discussion.!!(If!you!need!help!with!this!please!discuss!with!your!lecturer!in! person!or!email!them.! ! 3.!Your!principal!research!question!is:! ! ?! Is#the#decision#making#process#the#same#(5#stages)#for#both#products?#Or# consumers#may#skip#one#or#more#of#the#stages#in#the#process#of#decision# making#depending#on#the#chosen#product/advert?#(For%example,%is%the% information%search%process%the%same%or%necessary%in%buying%a%box%of%breakfast% cereal?%What%about%a%home%loan?)! ! 1.! Design!a!small!research!project!to!conduct!a!survey!with!five!(5)!people.!!!You! can!use!either!a!qualitative!or!quantitative!approach!and!develop!one!of!the! methods!of!data!collection!discussed!in!your!textbook!such!as:!a!telephone! survey,!or!a!focus!group,!or!a!depth!interview,!or!an!in?person!survey!asking! them!to!evaluate!your!ads/brands.!!Try!and!make!the!people!in!your!sample!as! different!from!each!other!as!possible!in!terms!of!their!demographic! characteristics!to!aid!your!analysis!of!this!discussion.!! ! 2.! You!could!ask!such!questions!to!answer!your!research!problem!as!follows:!Have! they!ever!purchased!either!(or!both)!of!the!products?!!If!so,!ask!them!how!or!why! they!chose!the!product(s)?!Do!they!go!through!every!single!stage!of!consumer! buying!decision!process?!If!they!have!previously!purchased!both!or!one!of!the! products,!ask!them!which!stages!of!the!decision!process!was!the!most!important! to!them!and!why?!!If!they!have!not!previously!purchased!one!or!either!of!the! products,!ask!them!which!stages!of!decision!making!process!would!be!the!most! important!stage!from!their!perspective.!Include!the!demographics!for!each!of! your!respondents!(but!not!their!names!!Just!call!them!Person!1,!Person!2!and!so! on)!in!your!assignment.! ! ! 3.! Look!at!your!survey!findings!and!compare!this!to!your!own!analysis!of!the! literature.!!Do!you!think!customers!skip!some!stages!of!the!consumer!buying! decision!process!depending!on!product/services!or!brand?!If!yes,!explain!why?!Is! it!important!that!marketers,!managers!and!advertising!experts!understand! consumer!buying!decision!process!with!regards!to!different!products!and! brands?! ! ! ! Many!of!these!terms!and!concepts!are!examined!in!your!text,!but!be!sure!to!find!other! sources!of!information!to!help!you!in!your!critical!analysis!and!be!sure!to!read!ahead!–! These!concepts!have!been!discussed!in!detail!in!class!!You!must!include!and!use!at! ! least!five!(5)!refereed!journal!articles!to!validate!your!justifications.!! ! Important:!Include!at!least!five!(5)!quality!references!other!than!the!required! textbook,!sourced!from!relevant!refereed!journals.! ! Submission!guide! ! Your!marketing!report!must!include,!as!a!minimum,!the!following:! ! ?! Be!written!in!the!required!format!for!a!short!business!report!(See!additional! information/document!on!how!on!how!to!write!a!marketing!report).! ! ?! Include!a!title!page,!executive!summary,!table!of!contents,!introduction,! headings,!subheadings!where!necessary,!conclusion,!reference!list!and! appendices!where!appropriate.! ! ?! Include!inLtext!references!and!a!correctly!formatted!reference!list.!!(Important:!it! is!mandatory!that!you!reference!all!information!you!obtain!about!your!ads,! companies!and!supporting!sources!in!accordance!to!the!Harvard!referencing! guide.!!A!link!is!provided!on!Moodle!under!library!services!to!learn!more!about! Harvard!style).!!If!you!are!not!sure!how!to!go!about!referencing,!please!contact! your!campus!librarian!and!ask!for!an!urgent!face?to?face!referencing!assistance! session.!! ! ALWAYS!use!the!3Ds!approach!to!writing:! ! DEFINE!concepts!–!provide!a!definition!of!concepts!such!as!‘situational!influences’!or! ‘Psychological!influences!for!exampleD! ! DISCUSS!concept!meanings!–!analyse!and!discuss!how!such!concepts!may!be!applied! to!marketing!situationsD!and!! ! DEMONSTRATE–!apply!the!concepts!to!your!specific!problem/product/situation.! ! Your!assignment!should!demonstrate:! ?! a!wide!reading!in!the!topic!area!(i.e.!you!have!not!just!referred!to!the!textbook).! ?! an!ability!to!use!the!theory!and!other!references!to!support!your!analysis.! ?! use!of!the!Harvard%Referencing%Guide!for!referencing!purposes.!!Penalties!will! apply!for!poor!or!incorrect!referencing.! ?! an!understanding!of!the!material!and!concepts!in!this!course.! ?! an!ability!to!answer!the!question(s)!in!a!clear,!concise!and!comprehensive! manner.!!