Reference no: EM133593934 , Length: word count:2500
Assessment Brief
Learning outcome 1: Demonstrate knowledge and understanding of key consumer behaviour theories and their relationships to practice.
Learning outcome 2: Critically evaluate the benefits and limitations of analytics data compared to traditional insight techniques.
Learning outcome 3: Demonstrate an understanding of the key principles of customer insight and how it relates to decision-making.
Learning outcome 4: Synthesise information and relevant analytics in a way that utilises knowledge or process from the forefront of consumer research.
Brief
The individual coursework is worth 70% of the overall module grade, which includes your Buyer Persona development and the managerial implication. Students will work on the behaviour and insights of consumers of one of the following brands: Amazon Videos, Disney Plus, PlayStation and Spotify.
Specifically, students are requested to:
? Observe and collect primary data on the key target audience of the chosen brand;
? Develop 2 X Buyer Personas, based on desk research, observation and interviews;
? Detect consumer insights and use them to identify managerial implications for the brand, e.g. new market opportunities, target customer groups etc.
Students will need to submit 2 documents via Moodle Dropboxes:
The report will be mainly text and template based, though images are allowed. It is also expected that you will make use of literature (readings of the module), both academic and practitioner/news sources.
Buyer Persona Brief
A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing market. This has been used for a long time in research for segmentation and advertising, and it helps businesses understand their customers better. Following the template provided you will collect information on your chosen brand users' behaviour.
Specifically, you have to develop two Buyer Persona by including the following information: demographics (age, gender, work, family, income), personality traits, motivations for using the brand/product, goals, frustrations (pain points), favourite channels, favourite features in the brand/product, quotes.
In order to collect your primary data you have to interview consumers of your chosen brand (at least 4 people). Interviews (no survey, forms, or online questionnaire) will be carried out online via Zoom, Meet, Skype, WeChat, or WhatsApp, and recorded. Examples of prompts and questions to be used are: demographic questions (age, gender, location), consumption habits and personality questions (How do you describe yourself? How do you most often use this brand/product? On what occasion?) consumer experience questions (Why do you buy/like this product/brand? What does this product/brand represent to you?) brand and market-related questions (What other apps/brands do you use to satisfy the same need? What's your favourite feature of the product/brand? Which feature would you choose to use from tomorrow if you can in this product/brand? How much do you spend on this product/brand? Would you be willing to spend more? Why? If not, what's the reason for that? If it is a streaming service (i.e. spotify), are you a free or a paying subscriber? what's the reason for that?).
A critical discussion and interpretation of the two Buyer Persona linked with consumer behaviour theories are expected.
Managerial implication brief
Based on the information collected and the two buyer personas developed, you will detect the consumer insights that arise from your analysis and that can be translated into managerial implications. Specifically, for each of your Buyer Persona you will:
? Show the gaps between the desired customer experience and the one actually received (pain points)
? Highlight potential solutions that the brand can address to the specific target market or consumer group
? Identify new marketing opportunities
? Identify ‘How you can sell your solution to them', providing insights and implications for the product and brand