Reference no: EM133555361 , Length: word count:3000

Consumer Insights for Marketing Success

The hot topic involves finding an emerging or interesting idea that involves consumer behaviour in the real world. In this assignment, you identify a hot topic, apply consumer behaviour theories and/or academic research, and then discuss the implications and future research ideas related to your hot topic. A suggested assignment structure is provided below.

Suggested Assignment Structure

Introduction (approximately 150 words)

Provide an introduction explaining your chosen hot topic, what you intend to present in your report and what key findings you are going to present.

Hot Topic Context (approximately 300 words)
Describe your hot topic. For example, what industry does it relate to? What sort of product, service or behaviour? Why is this considered a hot topic? Where is consumer demand? What consumers are interested in this topic or are showing changes in behaviour or interest in this area?

Tip:
Areas to look for hot topics include online news sites talking about new types of behaviour by people, new product launches which are related to new consumer demand, websites for early adopters that may show future relevant trends and social media discussions of new consumption trends (e.g., a new type of fitness behaviour and products used or eating and nutrition by people).

Applying Consumer Behaviour Theory and/or Research (approximately 1,300 to 1,600 words)
Describe the theories or academic articles that you believe are relevant to best explain the consumer behaviour in your hot topic. You may also wish to show where the theory or research explains the hot topic and other areas where there is less insight.
For example, you may choose to study the use of chatbots in how consumers now interact with services. You could apply research articles that study chatbots in consumer behaviour. In doing so, you show how well these articles do or do not explain what is happening in the real world.

Where you identify gaps between what we know in published research and what is happening in your hot topic area, you are welcome to include your opinion of how well the research explains your hot topic area.
Tip:
It is a good idea to include a table of showing key gaps or areas where the research provides relevant insight to your hot topic.
As a guide, you need 8 to 10 articles to explain your hot topic. You are welcome to use more articles. Where a hot topic has few relevant published academic articles, then you can (1) emphasize 2-3 articles to analyze your hot topic and (2) bolster this analysis with other articles that are relevant to how consumers are acting. For example, for chatbots you may have 4 relevant articles on chatbots and how people are satisfied with the service, so
you could add 4 to 6 markefing arficles on how consumers respond to services OR 4 to 6 psychology and markefing arficles on the theories that the

Implications (approximately 600 words)
Describe the meaning of your analysis for marketers and consumers.
For marketers, explain how they might use these insights to better offer value and understand consumers. Please note, this doesn't just mean selling products or services, consider how marketers can add value and build a longer term business relationships with consumers.
For consumers, think how your research can offer insights to people in how they interact with the situation in your hot topic. Maybe it is a new technology and you can suggest what further new consumer behaviour may occur or the new products which may be developed. What does your analysis suggest may happen in the future?

Future research ideas (approximately 300 to 600 words)
Present ideas for future research that build on your findings. What could be studied in future that would be useful to marketers and consumers? Think about how your hot topic may change over time and what ideas would be useful to know.

Appendix. Team work timeline
Provide evidence of your teamwork such as brainstorming sessions, meetings, and initial assignment content ideas. This can be presented as a table with bullet points of dates and team work discussions. Please include in this appendix a paragraph from each group member reflecting on what they learned through the discussions of this topic as a group member, consumer and as a researcher.

Note
Please ensure your report includes:
A cover page with group member details
A list of references following APA or Harvard referencing style
Tables, the list of references and appendices are not included in the word count. You may also include an appendix for relevant supplementary informafion.
Reports should be presented professionally. Cifing of references should follow the APA or Harvard referencing style.