MARK 2051 Group PJ

3 Found helpful • 15 Pages • Essays / Projects • Year: Pre-2021

Group Written Report (20%) + Group Oral Presentation with Q&A (10%) THE TASK BRIEF Your project entails an analysis of an Australian consumer products company of your choice, its target market, and the decision process used by its customers. Please get approval from your tutor about the choice of the organization. It does not need to be an MNC; a small local company will also suffice. There should not be more than one group working in your tutorial group evaluating the same company. Once you’ve considered the assignments requirements, take care to select an organisation for evaluation that will enable a comprehensive, quality response. That might require cursory research into evaluation options. Your project report should include the following parts (to include response within thatpart to the questions shown): Part A – Introduction (weighting proportion 20/100) a. Who founded the company, a brief historical sketch of the firm, and a description of the company’s current status? b. Describe the company’s principal product (or products) in terms of features and benefits as well as anything else that is important to note (e.g., unique product design). c. Has the product gone through any modifications/improvements, or have line extensions been added? d. In what stage of the product life cycle is this product currently? Cite evidence such as trends in sales and profits, the nature of competition, and the types of marketing strategies. Part B - Identification of target market(s) (weighting proportion 25/100) a. Who is (are) the primary target market(s) for this product? Describe these markets in terms of demographics, psychographics, and/or buyer behaviour (benefits sought, usage occasion, deal proneness, heavy usage, etc.). Do the same if there are any secondary target markets. b. Are there any potential core or secondary market segments you would recommend for this product? Describe these segments in terms of demographics and/or behavioural segmentation bases. c. What are the implications of these factors on what appear to be present marketing mix (Ps) strategies? Part C - Consumer decision-making processes (weighting proportion 25/100) 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 (criteria and decision rules)? b. How do consumers go about shopping for this product? d. How do consumers dispose of this product after its usage? (You can also support your report with concepts in consumer knowledge, motivation, group influences etc as discussed in class or further researched by you) Part D Recommendations for the organisation (weighting proportion 30/100). It is important (30/100 weighting) to make recommendations here that result from your investigation above. Cover each of the sub-sections suggested plus others that you find appropriate. 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   MARK2051 Consumer Behaviour, Session One, 2014 Other concepts in associative network, how to grab consumer’s attention, opinion formation and helping consumers remember may be useful here. Remember that this is a report (not an essay) and, as such, will have a succinct executive overview, table of contents, sections within each of parts A, B, C, D that will be well researched and answer these questions and probably many more according to the business scenario that you are evaluating, a tight conclusion summarising your argument, and further recommendations if appropriate. Facts will be established, Assumptions made, and argument built in parts A, B, and C to arrive at well-justified recommendations (or sound reasoning in support of the status quo) in part D. This is an evaluative and critical analysis of consumer behaviour knowledge impacting marketing strategy. The descriptive component in each part serves only to provide researched context from which we can draw marketing strategy conclusions. Critically analyse, part by part, as you proceed to build the case that will make clear your recommendations. You’ll likely have sections appraising or explaining the scenario found from the consumer behavioural perspectives of: - the establishment of the consumers’ perception; - the consumers’ comprehension of the organisation’s messaging and of their brand; - the consumers’ motivation, attitude, anticipated returns from consumption of the product or service; - any group influence and/or social stratification associated with the products being assessed by analysis of the broader promotion campaign (if that is known or can be established); - the decision process from identification of need to product/service selection; - what role or roles does the advertisement play in AIDA (Attention, Interest, Desire, Action) and how?/why?; - do the organisation’s advertisements illustrate any respect for the consumer; - is consumer satisfaction an apparent goal of their campaign (or perhaps little more than “lip service”? - do any demographic and/or cultural factors play a role in the campaign? Should they? This is a “show off” exercise of how well you have attained and mastered knowledge of consumer behaviour concepts and principles in this course. You are encouraged to additionally research further outside our course material for supplementary support. Don't forget to reference all information sources using the Harvard referencing method. This must be original work.-The Marking Guide showing the basis of assessment for each of the written report and the oral presentation to our class will be provided on Moodle in week 3. Optimise the oral presentation grade not by retelling the written report but rather; - focus on presenting conclusions drawn from the group’s analysis; - provide reasoning with evidence (and assumptions where necessary) for those conclusions; and - present recommendations with your consumer behaviour-based advice to the marketer’s mix strategies as are influenced by your report’s findings.  

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