MKT30040 Project on Consumer Psychology: Evaluation & Strategy | UC

AIM OF THE PROJECT 

The aim of the project is to help a goods or services facility of your choice by analysing the consumer psychology of  their  current  or  potential  consumers  and  use  this  to  recommend changes in their marketing strategy. To do this, you must evaluate and analsyse a facilty of your choice (Part A) and design a marketing strategy (Part B) 

PART 1  – Evaluation and analysis

The aim of the first part is to evaluate and analyse the current situation in a facility and assess how changes in consumers’ behaviour can benefit the facility. The objective is to understand the psychology of the consumers of your chosen facility. There are three components to this. 

a) Select a goods or services facility. This can for example be a supermarket, book shop, gym, restaurant, pub etc. The facility needs to be an existing ‘physical’ facility in your local area (not an online one) that you can locate on a map and visit. Start by explorating relevant facilities in your area and deliberate about the best facility for this assigment. 

Some dos and don’ts

1. Do take you time to investigate which facility you select. Best is to focus on a facility that offers a good opportunity to evaluate consumer behaviour. Make sure you have access to the facilty.  

2. Do  select  a  facility  that  can  be  evaluated.  A  facility  with  room  for improvement is usually a workable choice, as that means there is something to analyse.

 3. Do some basic research when selecting your facility, but don’t start any in-depth research untill you have made your final decision.

b) Explorative research how the facility can benefit from a change in consumer behaviour. The aim of part one is to evaluate and analyse how the the facility’s business could benefit if their consumers would behave differently. This requires that you get a good idea of the context of the facility (e.g., what type of facility is it? What is their business model?) but also  how  do  their  consumers  behave  (e.g.,  who  are  typical  consumers?  How  do  they interact with the facility?), and think about the pschology of the consumers (e.g., what are their motivations to buy in this facility? Which self-identity do these consumers have?). For this some explorative research like observational research or some interviews (with e.g.,consumers, staff or manager) must be conducte. There is no fixed way to do this research.

However, you’ll have to visit the facility at least once (and perhaps more). The main aim of the research should be to get a good overview of how consumers behave in the facility, how this affects the facility’s business and how a change of consumer behaviour can help the facility.

Some dos and don’ts

1. Don’t  start  your  research  before  you  have  thought  carefully  about  your research questions (i.e., what do you want to know?). Do clearly articulate your research questions in the report.

2. Do critical consider if you have answered your research questions. Consider if  all  questions  are  answered  or  if  you  need  to  conduct  some  follow-up research to complete the evaluation.

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c) Draw  your  conclusions.  Now  you  need  to  put  the  pieces  together  and  be  able  to answer the following questions. Target group: Which consumers need to change their behaivour  for  the  facility  to  benefit  (and  what  would  this  benefit  be?)?  Type  of behaviour  change:  What  type  of  behaviour  change  is  needed  to  achieve  this? Underlying  consumer  psychology:  Which  psychological  mechanism  underpin  this behaviour that needs changing? For the latter you should use the course material and if you can, use other relevant sources too.

Some dos and don’ts

1. Define  your  target  group  and  target  behaviour  –  but  do  not  use  socio-demographics  (age,  gender,  generations,  socio-economic  status)  as segmentation criterion.

2. The analysis should provide new insights, so do interpret your result, and don’t only report the results.  

3. Do  cite  the  original  sources  (and  check  how  this  is  done  appropiately according to UCD’s Academic Integrity policy), and don’t  cite slides, the introduction videos or discussion in class. 

PART 2  – Design a marketing strategy

Use the analsyis of the first part to recommend changes to the manager/ owner of the facility. These  recommendations  should  be  marketing  strategies  aimed  at  changing  consumers psychology so that the facility will benefit. Base your recommendations on the literature – and use relevant concept(s). Explain what these concepts mean and why they are relevant? Also describe the  implications  of  your  recommendations  for  the  facility?  How  feasible  are they? How would you present your suggestions to the manager of the facility – why should they consider them?

REPORT REQUIREMENTS

Format:

- The report consists of max 15 pages, including the title page, illustrations, references and appendices;
- The title page includes 

• student names + numbers; 
• module name and code; 
• project title; 
• declaration of honesty 

– see below; 

• indication of contibution of each group member.

- Report written in 12-pnt Times New Roman; 1.5 line spacing; 
- References in Harvard style (focus on quality, not on quantity)