MC5077 - Consumer Insights (2024/25)
Module specification | Module approved to run in 2024/25 | |||||||||||||||
Module title | Consumer Insights | |||||||||||||||
Module level | Intermediate (05) | |||||||||||||||
Credit rating for module | 15 | |||||||||||||||
School | Guildhall School of Business and Law | |||||||||||||||
Total study hours | 150 | |||||||||||||||
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Assessment components |
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Running in 2024/25(Please note that module timeslots are subject to change) |
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Module summary
Effective marketing management requires the ability to understand consumer needs, influences and predict how consumers will behave within a given market situation. Marketers need an in-depth understanding and critical appreciation of customer responses to products, services and marketing offering. The module is designed to provide an in-depth and critical understanding of consumer insight and how it informs marketing practices. The module examines the various determinants of consumer behaviour, and introduces and examines the theories and influences of buyer behaviour and their application to managerial decision-making. In addition, the module builds on an appreciation of the market research processes methods and metrics used to gain consumer insight for informed effective marketing decisions.
This module aims to develop a critical understanding of the importance of studying and understanding buyer behaviour. The development of market research, their role, and its contribution to the marketing function. Thus enable and develop student’s technical skills and knowledge in applying market research methods to consumer issues
The module also aims to assist students in the acquisition of the following skills:
1. Digital literacy and IT skills
2. Researching & analysing
3. Application of knowledge and presenting data
5. Critical thinking
6. Academic writing
Syllabus
Consumer Insights -Influential factors affecting consumer behaviour
Micro view of consumption
The individual psychological processes and influence on consumer and decision making & buying behaviour
Motivation, decision making & Involvement, learning and, memory, perception, attitudes and attitude change, personality, lifestyles, emotions, self-image & identity. The ethical consumer
Marco view of consumption
The group influence on consumer and decision making & buying behaviour
Groups ,social process ,culture
Customer journeys and touch points. Patterns of buyer behaviour, consumer experience. Loyalty & life time value & segmentation
Learning Outcomes LO1
Consumer Insights- Methods of measuring & monitoring Consumer experiences & behaviour
Primary secondary research
Consumer data sources & data capture instruments CRM, methods and metrics life time value RFM /FRAC metrics
Quantitative Qualitative research methods
• Qualitative research approaches and techniques – Focus groups, interviews, observation, diary methods, projective techniques, ethnographic, Internet approaches for qualitative research.
• Quantitative research approaches and techniques- sampling, questionnaire design Survey, Internet surveys
• Ethical codes of practice in researching consumers
Learning Outcomes LO2
Balance of independent study and scheduled teaching activity
The module will be delivered over a 12 week period and consists of 1 hour lecture and 2 hours seminars each week. The lectures will focus on key theories, concepts models and frameworks of consumer buyer behaviour and related market research principles and methods used in gaining consumer insights. – The seminars will be a 2 hour student interactive learning session and will adopt a blended learning approach with content on web learn to be used for the interactive sessions. Students will be provided in advance the material to be covered in the seminar sessions are expected to prepare for the interactive sessions. The sessions will cover discussions, debates, cases, journals and problem solving analysis to build on the contemporary consumer issues covered in the taught element of the lectures. The aim of this approach is to
• Assist in relating their knowledge to the marketing discipline and profession
• Apply understanding of technical skills required for carrying out consumer research in order to assist in employability skills for future careers in marketing.
Students will need to consider these aspects of the module as part of their personal development.
The facilities of Web Learn will be used as part of the central to the delivery of module handbook, case studies, journal articles, and external web links learning. In particular students will be encouraged to use the leading portals covering market research developments which contain live up to date information and white papers on the subject.
Assessment
Students will be given an opportunity and be required to show draft work/progress to their tutors for comments and formative feedback during seminars at least 2 weeks prior to the deadline. Students will receive written feedback and grades within 15 working days of submission formal feedback & grades will be made available to students 15 working days post submission and or via web learn. Weekly drop-ins will be provided by the tutor in office hours
Learning outcomes
On completing the module students will be able to:
1. Discuss & examine theories underpinning contemporary consumer behaviour towards the generation of consumer intelligence & insight LO1
2. Design and construct research methods to harvest, analyse and evaluate insights from consumers data LO2
Bibliography
Core Text book
Szmign I. Piacentini M. (2018) Consumer Behaviour 2nd Edition Oxford Press
Wilson A. (2019) Marketing Research : Delivering customer Insight 4th Edition Red Globe press
Batat, W. (2019) Experiential Marketing consumer behaviour, Customer experience and the 7Es Routledge.
Kumar, V., and Reinartz, W. (2019) Customer Relationship Management: Concept, Strategy, and Tools, 3rd Edition, Springer.
Additional supporting helpful reading
Sethna Z Blyth J. (2019) Consumer Behaviour Sage Publications
Solomon M. (2020) Consumer Behaviour: Buying, Having, and Being, Global Edition, 13th Edition Pearsons
Schiffman L. & Wisenblit J. (2019) Consumer Behaviour: Global Edition, 12th Edition Pearsons
Burns A. Bush R. (2017) Marketing Research, Global Edition, 8/E Pearson
Nuna D Birks, D. Malhotra N. (2020) Marketing Research: Applied Insight, 6th Edition, Pearson
Buttle, F. and Maklan, S. (2015) Customer Relationship Management: Concepts and Technologies, 3rd Edition, Routledge
Journals:
Journal of Consumer Behaviour
Psychology and Marketing
Journal of Consumer Psychology
Advances in Consumer Research
International Review of Retail, Distribution and Consumer Research
Journal of Consumer Research
Journal of Retailing and Consumer Services
The Journal of Database Marketing and Customer Strategy Management
Journal of Targeting, Measurement and Analysis for marketing
International Journal of Research in Marketing
Journal of Marketing Research
Journal of Consumer Studies and Home economics
International Journal of Consumer Studies
Journal of Interactive Marketing
International Journal of Mobile Marketing
Journal of Direct, Data and Digital Marketing Practice
International Journal of Electronic Commerce
Journal of Mobile Communications
Journal of Business Research
Journal of Marketing Communications
Journal of Product & Brand Management
Leading portals covering marketing research developments
The Market Research Society http://www.mrs.org.uk/
European Society for opinion and Market Research ESOMAR - http://www.esomar.org/
British Market Research Association http://www.bmra.org.uk
The Association for Qualitative Research http://www.aqr.org.uk/
Market Research World http://www.marketresearchworld.net/
eMarketer - http://www.emarketer.com/
Smartinsights - http://www.smartinsights.com/
Clickz -http://www.clickz.com
imediaconnection - http://www.imediaconnection.com/
Interactive Advertising Bureau -http://www.iab.net/
Direct Marketing Association http://www.dma.org.uk/