Assessment Task 1: Individual Business Report (please use the report format—already provide the writing report format)

 

Details: (Please write by third party)

Name: Bob, 27 years old, international student in Australia, Money from parents, work. Have girlfriend, just move from Melbourne to Ballarat (study) (Before 28/07/15 in Melbourne, after 28/07/15 in Ballarat)(please write down about change of purchase—moving)

Like coffee, movies, red wines, no often cook at home, but no too many restaurants in Ballarat or so expensive, so only cook at home. Sometimes my girlfriend come to Ballarat, we will go to restaurants. Sometimes I will come back to melboune—-play with girlfriend and work or do some own business.

Have car, rent in studio (Ballarat), come back Melboune by Train(v-line), eat steaks, chickens, Chinese foods, thi foods.

Moving home, have to buy many new tablewares, fast foods, snacks. (please write down change of purchases)

According to Analysis of the actual purchase items , select a direction (www.roymorgan.com—first step), we must use theory (chapter 6 most of theory) , linked to reality. ( Icons and confidence to use )

 

 

Overview

This assignment is rewarding in terms of building your knowledge of marketing and consumer behaviour theories/concepts.

The overall purpose of this assignment is to help you build your understanding of the consumer and how an understanding of consumers is a key input to the development of an effective (the right type) and efficient (minimal or no waste) marketing mix strategy. You need to collect data about your personal shopping and analyse your shopping behaviour given knowledge of relevant marketing and consumer behaviour theories/concepts.

 

First step

It is important that you begin (even before starting the data recording) by describing yourself as a consumer before you have analysed your shopping. For example, ‘The consumer is a 32 year old male who has been married for 8 years, has a wife who also works part-time in health services, has one child in a private school, is in full-time employment as a professional manager, favours branded products—particularly for high tech products—rarely goes grocery shopping and prefers to search and buy online for as many products as possible’.

Note—this description is only an example—there may be other relevant aspects you could describe as well.

If you are studying in Australia you should place yourself in one of the Roy Morgan Values Segments. Go to www.roymorgan.com click on Products, click on Values Segments and then read all of the segments to decide which segment you belong to. （please choose one, write in the report）

 

Second step

You will track and detail every purchase you make over seven days and note what occurred in the decision making process (DMP) and the influences on the DMP for every purchase decision. These purchases need to be recorded in a matrix—in an Excel spreadsheet. An example of a matrix is available on Moodle. This is an example — you should amend according to your needs. The purchases you record here will, in the main be those products you buy weekly, e.g. milk, food, clothes, fuel, rent, entertainment and the like but should also cover clothes, small household items such as a toaster, etc. These tend to be classified as low-involvement purchases.

You need to detail how and in what ways marketing and consumer behaviour theories/concepts, and perhaps even the purchases recorded in the matrix, influence (or influenced) your decision making process for your nominated product.

 

Third Step

At the same time you must detail a recent purchase of what is generally known as a high-involvement product, e.g. a new TV or a new car or an overseas family holiday. Be sure to provide a full description of the product. If you have not made such a purchase then you can write about such a product that you will make in the near future. Please note that the term product includes services such as a family holiday.

 

Fourth Step

Compare and contrast your buying behaviour for the products purchased over the week with your buying behaviour of your nominated product.

 

Fifth Step

Provide key overall insights and justification (use theory to support) regarding what you have discovered. Describe how Marketers could use these insights to develop more persuasive Marketing strategies.

 

THIS ASSIGNMENT MUST BE DRIVEN BY THE ANALYSIS OF THE DATA YOU COLLECT ON YOUR SHOPPING

YOU THEN PUT YOUR SHOPPING BEHAVIOUR IN THE CONTEXT OF MARKETING AND CONSUMER BEHAVIOUR THEORIES/CONCEPTS.

DO NOT WRITE A THEORETICAL PAPER TO WHICH YOU ADD A FEW COMMENTS ABOUT YOUR SHOPPING.

 

Additional Resources:

 

The link to the library website for more information is:

 

http://www.federation.edu.au/current-students/assistance,-support-and-services/academic-support/learning-and-study/resources/general-guide-for-the-presentation-of-academic-work

 

Each day there are articles in the daily press that address key concepts covered by this course. Articles of interest can be brought to class for discussion. There is also a wide range of general marketing textbooks available that introduce basic marketing concepts. These books may help to supplement the material presented in your prescribed text.

Other useful texts for general marketing knowledge, case analysis techniques and presentation skills include:

 

Elliott, G., Rundle-Thiele, S & Waller, D. (2014). Marketing (3rd Ed.). Milton, Qld: Wiley.

 

Grewal, D., Levy, M., Mathews, S., Harrigan, P & Bucic, T. (2015). Marketing. North Ryde, NSW: McGraw-Hill   Education.

 

Hubbard, G. ‘Analysing A Case’, in P. Graham. (1990). Insights into Australian marketing: Readings and               cases. Sydney: Prentice Hall.

 

Nordhielm, C. L. & Dapena-Baron, M. (2015). Marketing management: The big picture. Hoboken, NJ: Wiley.

 

MacNamara, J & Venton, B. (1990). How to give winning presentations: Sydney: Archipelago Press.

 

Nutting, J. & White, G. (1990). The business of communicating (2nd Ed.). Sydney: McGraw Hill.

 

There are also numerous books written by Philip Kotler, either by himself or with other authors.

For a comprehensive list of marketing journals go to:

http://www.tilburguniversity.edu/about-tilburg-university/schools/economics-and-management/organisation/departments/marketing/links/journal1.html

The major journal is the Journal of Marketing.

Other journals that you should become familiar with and could use in your research for your assignments include:

• Australasian Marketing Journal
• Journal of Advertising
• Journal of Consumer Marketing
• Journal of Consumer Behaviour
• Journal of Product and Brand Management
• Journal of Strategic Marketing

 

Industry related links

There is a diverse source of industry sites where the concepts covered in this subject are touched on.

www.inc.com

This is America’s number one entrepreneurship and small business site. Great if you are starting up your own business and some good general coverage of marketing topics (see the sales and marketing tab).

www.marketingprofs.com

The Marketing Professionals site, as the name suggests, is targeted as the specialist marketer. Click on the ‘marketing articles’ tab and you will find a list of main marketing topics covered and many you may not have thought of. As it is written for practitioners, most of the articles are 2 -3 pages in length.

Marketing consulting firms

www.tomspencer.com.au/2008/07/27/strategy-consulting-and-business-consulting-firms-list-australia/#Deloitte

www.stormscape.com/inspiration/website-lists/consulting-firms/

www.mckinsey.com/insights

www.bcg.perspectives.com

The leading marketing consulting firms, both international and national, seek to hire the best and brightest people who come up with the big ideas that change the world! Of course they have to tell everyone how smart they are (many of them are very smart). To do this they write and publish insight and thought pieces on current industry and discipline trends. You will need to do a bit of searching but you will often find some very good general articles.

www.digitalbuzzblog.com

This site has the latest campaigns from the world of digital. Be careful it can be addictive!! Read the editorial commentary to get insight into the objectives organisations set for their campaigns.