Consumer Insights

The course aims to help understand the psychology of how consumers think, feel, reason, and choose between different alternatives (e.g., brands, products), how social and cultural environments (e.g., friends, family, and culture) influence consumer behaviour, and how marketers can use consumer insights to develop marketing campaigns/strategies to reach their target segments.

Why study market behaviour?

To gain deep understanding of consumer behaviour is key to business success.

Objectives of the course

1. Concepts and theories from disciplines and their relationship to consumer behaviour
2. How culture impacts market behaviour

Course Approach

1. Research to analyse market behaviour

   • Mere exposure effect could have a greater success in instilling a habit over having a reward system for the actions.

2. Global perspective

   • Reference book: Consumer Behaviour - Buying, Having, and Being. Michael R. Solomon

3. Applied: Have you apply learned concept

   • Group project; Brand audit
     • Hands on experience where you do research for a brand
     • Group of 5 people
       • Accounting based
         • How brand affect the company value?
       • Research based
         • What the customer perceive the brand?
         • How the company wants the brand to be perceived?
         • Are there any discrepancies b/w these notions
           • How management defines what the brand is - Identity
           • How external stakeholders - Image

References

1. Consumer Behaviour - Buying, Having, and Being. Michael R. Solomon