Importance of understanding consumer behaviour

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Reference no: EM132187041

TASK

Pitch the importance of understanding consumer behaviour to an organisation of your choosing.

Imagine that you are a consumer behaviour researcher. You work for a research organisation that collects all the information about consumer behaviour that we have covered in this subject (e.g. their decision making process, internal and external influences). Your role is to pitch your product (consumer behaviour insights) to a potential client and demonstrate the value of the information you have collected.You will do this through a Reportexplaining the merits of understanding consumer behaviour and identifying a problem or opportunity within the organisation that can be solved using consumer behaviour insights. And a Presentationwhere you present a campaign to address the issue / opportunity you identify in the report.Report (2000 Words)

Prepare a report outlining three things

1) Define and describe consumer behaviour? (Use academic sources to support your claims).

2) Explain why an understanding of consumer behaviour is important for organisations (using examples from academic research and industry to support your claims).

3) Identifying an organisation of interest (this may be an organisation you admire and / or would like to work for).

a. Create a consumer profile for the primary and secondary markets they target (based on information gathered from credible sources e.g. ABS).

b. Identify an issue they could solve using insights into consumer behaviour (justify your choice).

This is a 4 step process;

Step 1: Research theory and marketing practice

Conduct research to enable you to answer address the first two points of the report.1) Define and describe consumer behaviour? You need to collect sources that will allow you to define consumer behaviour (drawing on a number of sources) and describe what this field of study is about.

Hint: you should not be listing the aspects of this subject in this section.

2) Explain why an understanding consumer behaviour important for organisations?First you need to conduct research to identify the reasons why understanding consumer behaviour is important. Then you need find evidence to support your claims. This may be in the form of examples to illustrate your point, or evidence from researchers working in the field.

Step 2: Your chosen organisationIdentify an organisation of interest (this may be an organisation you admire and / or would like to work for). Conduct research that will allow you to profile their primary and secondary target audiences and to identify an issue / opportunity in the organisation that could be solved through the use of consumer behaviour information. (The external influences we cover provide can assist in building this profile consider; household types, culture, lifestyles, social status, demographics, generational differences, Roy Morgan, VALS and Mosaic).Step 3: Sources and ReferencingYou are expected to use at least 6 academic sources for this assignment

Create a reference list using APA 6th style (a short CSU guide to APA referencing is provided in your Resources folder on interact) and make sure all of the articles that you have cited in the report are included in the list.

More information about referencing is available at -https://student.csu.edu.au/study/referencing-at-csu

Step 4: Submit the report via Turnitin.

Reference no: EM132187041

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