L/618/5120 - Unit 33: Marketing Insights and Analytics Sem 2 Assignment 1 Brief

L/618/5120 - Unit 33 Learning Outcomes

LO1: Investigate   characteristics   and   influences   on   consumer   decision-making   processes   in   different organizational contexts. 
LO2: Apply   techniques   to   enhance   the   customer   experience   and   develop   customer   relationships   for marketing purposes.

Vocational Scenario

Choosing a Product or Product Category 

Pick a product to research throughout the course. You should look ahead through all the modules to see whether your choice is suitable to complete both assignments of the course. You should select an existing product that is widely available and well-known consumer good.You should provide an introduction to the product you have chosen, including information about the product name, product category, sources for finding relevant information, and why you want to study this particular product or brand.

Unit 33: Your task 

As a marketing executive of the company whose product you have chosen, you are asked by the Chief Marketing Officer of your company to evaluate whether your company’s current marketing strategies can influence   consumption   behaviors   of   your   target   audience   (TA).   To   do   so,   you   need   to   explain   if   the company   has   comprehended   how   different   individual and   external   factors   can   influence   your   TA’s consumer behaviors and whether your company’s marketing strategies have successfully responded to these factors to influence your TA’s consumer behaviors. You also need to recommend other marketing decisions the company can make to influence their consumer behaviors more effectively. Second, you are asked to consult ideas of developing a customer experience strategy to create more positive customer experience for your target customers.

Assignment activity and guidance of L/618/5120 - Unit 33: 

Task 1: The consumer-decision making process 

1. Consumer Research and Trends Collect secondary data (with citations) to analyze trends in demand for your product and define market segments, targeting, and positioning, which will provide some insights into what would motivate potential customers to choose your product offering.
2. Consumer Decision Making Process

2.1. Decision-making process Analyze consumer behaviors of your target consumer in five steps of the decision-making process.

2.2. Influence on consumer behavior What influences their behavior in each step? You need to analyze both individual and external factors that influence   your   target   consumer’s   behavior.   Justify   which   step(s)   would   these   factors   influence   the consumer behaviors. Why do you need to understand these influences?

2.2.1. Individual Factors

a. Motivation 

1. Select one level of from Maslow’s Hierarchy of Human Needs that can be used to segment the market and position your chosen product. Explain your choices. Justify the application of Maslow’s need hierarchy forse gmentation and positioning of your product.
2. Identify possible motivational conflicts that a prospective consumer of your chosen product may have.Discuss how the marketer can reduce or resolve these motivational conflicts.

b. Cultural valuesi.  

Find  two   different   advertisements   for  your chosen   product that are targetted  to different audiences. Provide the URL, a scan, screen capture, or other visual for each.

1.  For each advertisement, analyze the contents in terms of the written and pictorial aspects, utilizing the core cultural values. How are these values portrayed to the target audience?
2.  Identify the core values most relevant to the purchase and use of your product.

2.2.2. External Factors

a. Reference group. 

1. What reference group would be the most influential your target consumer’s decision purchase?
2. Provide two recommendations on marketing strategies your company could use use related to reference group to influence consumer behavior (diffeent from what your company is currently doing)?

b. Ethical consideration or sustainability issues. 

1. Review existing practices related to Ethical consideration of sustainability issues your company is doingto influence the consumer behavior.
2. How else could you recommend the company to influence the buyer behavior more effectively regarding ethical consideration or sustainability issues (diffrent from what your company is currently doing)?

2.3. Marketing decisions Recommend marketing decisions to influence the consumer behaviors in all five steps of the decision –making process.

Task 2: A strategic customer experience

1. Create a customer persona for your product.
2. Analyze the current customer journey map for your product. 
3. What  might   lead   to   customer   satisfaction   or   dissatisfaction   within   their   customer   journey   while purchasing your chosen product? 
4. Provide a set of justified recommendations of how  your company can  adapt their marketing mix to enhance the customer experience.
5. Evaluate how the application of these will help your company achieve its objective? 
6. Are there any strengths or weaknesses your company may have in applying these strategies or actions?

Learning Outcomes and Assessment Criteria L/618/5120 - Unit 33