MKT351 Consumer Behaviour Tutor-Marked Assignment July 2025 Semester | SUSS

MKT351 Background

According  to  the  Basic  Financial  Planning  Guide  issued  by  the  Monetary  Authority  of Singapore  (MAS),  the  Central  Provident  Fund  (CPF)  Board,  and  the  financial  industry associations, young  working adults (19–29 years  old)  should obtain insurance  coverage for death, total permanent disability (TPD), and critical illness (MoneySense, n.d.). However, as UOB (2024) reports, only 17% of youth aged 18 to 25 are covered for critical illness, and 13% of them have coverage for death and total permanent disability. Protection gaps among working Generation Z Singaporeans are pertinent issues that require attention.

MKT351 Question 1

Based  on  evidence  from  the  two  case  articles  provided  below,  discuss  two  (2)  different consumer  decision-making  issues  young  working  adults  in  Singapore  demonstrate  in  their decisions not to obtain sufficient insurance coverage.

Note. In your response, link your arguments to relevant consumer decision-making concepts covered in Study Unit 1. You must clearly indicate the source of your evidence and can refer to the case articles using A1 and A2 as your in-text citations (e.g., “as described in A1”; “as seen in A2”). There is no need to include these two reference articles in your bibliography.

[A1] Vincent, A. (2024, May 4). Commentary: Most young adults in Singapore are under-insured – and it’s a bigger problem than we may think. Channel NewsAsia.

[A2] Yeap, A. (2024, May 4). ‘I just hope nothing happens to me’: Why some young adults in S’pore face the future under-insured. Channel NewsAsia.

Question 2

Financial service consultant Edgar Tan (mentioned in A2) approaches you to design a poster that will “create a sense of urgency” for young working adults in Singapore to recognise the importance of insurance and motivate them to get insured.

(a) Propose,  with  justifications,  which  level(s)  of  Maslow’s  Hierarchy  of  Needs  you  will appeal to in the poster to trigger the sense of urgency to get insured. (15 marks)
(b) Following up on Questions 1 and 2(a), create a poster (10 marks) with the assistance of AI tools. Elaborate on how your poster boosts motivation and ultimately encourages them to obtain sufficient insurance coverage (25 marks).

Note. To score well, you should aim to present a creative poster idea and demonstrate a solid  understanding  of  relevant  consumer  behaviour  concepts  and  theories  in  the elaboration.   

Insert the poster as an image within the report body. The poster does not need to be entirely created by AI. Include a detailed disclosure of how AI tools are utilised in creating your poster in the AI Usage Declaration Table in the appendix.

You may apply concepts or theories not covered in MKT351. However, when doing so, you must cite, reference, and demonstrate a correct understanding of your resources.(35 marks)

MKT351 Marking Rubric for AI Application, Writing and Formatting for the entire assignment