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Summarize the project and make managerial conclusions

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Reference no: EM131944066

Assessment 1: MARS phenomenon report

Requirements Step1: Students are asked to find examples of quirky marketing, advertising, retail, and sales activities/phenomenon. These can be activities, retail settings, advertisement campaigns, sales experiences, or daily interactions.

Quirky marketing activities: Any marketing, retail, advertising or sales activities, phenomenon, or outcomes that cannot be easily explained by traditional theories in consumer behaviour, behavioural economics, and psychology. If it doesn't make sense to you, explore why it's happening.

Step 2: Then, students will try to interpret the selected marketing, advertising, retail and sales activities/phenomenon by applying or modifying existing theory, blending two theories to create a new theory, or proposed a new theory altogether.

Step 3: Students will submit (a) a report of the observation of an unusual or quirky phenomenon, (b) an analysis of the theories behind why it is happening and if the phenomenon is working or not working, and (3) managerial conclusions (draw marketing insights, list at least 2-3) from the observed phenomenon

Assessment 2: MARS experimentation (group)

Requirements The focus of this project is on application of a relevant attitude/cognition/behaviour/decision theory on actual practical cases and examples via an experiment or study that tests the theory or concept.

Step 1: Each small group selects one attitude/cognition/behaviour/decision theory and summarizes the key academic papers regarding that issue. (Hint: You can rely on your small group's "MARS phenomenom report" as a starting point).

Step 2: Each group is required to apply key theories into the real-world cases/ store/ demonstration with simple experimentation or a small study. For instance, replicate the choice overload experiment with a samples table of jams on campus, in class, or at home (from Iyengar). Further, you will be tasked with making a short (3 minute) video as a presentation of your project, the results that emerged, and marketing insight recommendations.

Step 3: Each group is asked to report the results of the application and exercise, summarize the project and make managerial conclusions (marketing insight recommendations that are strategic or practical in nature and based on results of your experimentation) with 2,500-3,000 word reports and 3-4 minute videos

Reference no: EM131944066

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