MBA404_T3_2019_Assessment_01_v2 Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business...

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Consumer and behaviour psychology


MBA404_T3_2019_Assessment_01_v2 Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Assessment 1 Information Subject Code: MBA404 Subject Name: Consumer Behaviour and Marketing Psychology Assessment Title Individual Project Assessment Type: Length: Video 7 minutes (+/- 10% allowable range) Weighting: 25% Total Marks: Submission: 100 Online via Moodle Due Date: Week 6 . Your task Individually, you are required to create a 7 to 8-minute video, in which you must discuss and critically analyse your recent purchase of a product or service based on the 5-step Consumer Decision Making Process. Please note that you will need to use the same product or service in the second and third assessment in this subject as all assignments in this course are interrelated. In addition to this, products or services by market leaders, such as Apple, Samsung, Nike, should not be used. Assessment Description. In this individual assignment, you will be given an opportunity to explore contemporary marketing issues related to consumer behaviour by demonstrating an understanding of the theories and concepts learned in weeks 2 to 5. Assessment Instructions Before making a choice, please conduct preliminary research first to determine the availability of information. If you find that the number of sources about your chosen product or service is limited, please consult your workshop facilitator to discuss an alternative option. Once you have chosen your product or service, your task is to record a narration of each of the steps of the Consumer Decision Making Process on video and provide the viewer with an in-depth critical analysis of how you have moved through each of the steps. In your analysis, you will need to explain and demonstrate the steps, along with your identification of any possible issues that occurred during this process. The findings presented in the video must be based on primary research and can be reinforced by analysis of relevant secondary data. In addition to this, your analysis must incorporate theories and concepts related to consumer behaviour discussed in the topics from weeks 2 to 5. More specifically: 1. Identify and analyse the need and want that led you to the purchase of the chosen product or service. 2. Identify and examine the internal and external sources of information that you used in making your decision to buy the chosen product or service. 3. Evaluate alternatives and narrow down the attributes of the chosen product or service that satisfy your need and want. 4. Identify and analyse available purchase methods to determine how these methods impacted on your decision-making process. 5. Analyse your post-purchase behaviour by identifying the features of the chosen product or service that reduce cognitive dissonance. You are required to use at least 10 sources of information and use Kaplan Harvard Referencing Style. These may include websites, government publications, industry reports, census data, journal articles, and newspaper articles. These references should be presented as a reference list at the end of your video. Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Assignment Submission Students are encouraged to submit their work well in advance of the deadline to avoid any possible technical difficulties. For those students who have limited experience in video making techniques, it is recommended to read video FAQs document that is available to you under the assessments tab in MyKBS. Late assignment submission penalties Penalties will be imposed on late assignment submissions in accordance with Kaplan Business School “late assignment submission penalties” policy. Number of days Penalty 1* - 9 days 5% per day for each calendar day late deducted from the total marks available 10 - 14 days 50% deducted from the total marks available. After 14 days Assignments that are submitted more than 14 calendar days after the due date will not be accepted, and the student will receive a mark of zero for the assignment(s). Note Notwithstanding the above penalty rules, assignments will also be given a mark of zero if they are submitted after assignments have been returned to students *Assignments submitted at any stage within the first 24 hours after the deadline will be considered to be one day late and therefore subject to the associated penalty For more information, please read the full policy via https://www.kbs.edu.au/wp- content/uploads/2019/07/KBS_Assessment-Policy_June-2019_Final.pdf https://www.kbs.edu.au/wp-content/uploads/2019/07/KBS_Assessment-Policy_June-2019_Final.pdf https://www.kbs.edu.au/wp-content/uploads/2019/07/KBS_Assessment-Policy_June-2019_Final.pdf Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Important Study Information Academic Integrity Policy KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy. What is academic integrity and misconduct? What are the penalties for academic misconduct? What are the late penalties? How can I appeal my grade? Click here for answers to these questions: http://www.kbs.edu.au/current-students/student-policies/. Time Limits for Video Assessments Video that exceed the time limit by more than 10% will cease to be marked from the point at which that limit is exceeded. Study Assistance Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Click here for this information. http://www.kbs.edu.au/current-students/student-policies/ https://elearning.kbs.edu.au/course/view.php?id=1481 COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. MBA404 Assessment Marking Rubric – Individual Video Project 25% Marking Criteria F (Fail) 0 – 49% P (Pass) 50 – 64% C (Credit) 65 – 74% D (Distinction) 75 – 84% HD (High Distinction) 85 -100% Critical Analysis __/30 marks Your analysis lacks required depth, and/or your purchase explanation is not relevant to the assessment task. You analysed some of the consumer decision making steps, and/or your purchase explanation is superficial. You analysed most of the consumer decision making steps, by explaining your purchase, although further logical and detailed explanation was needed. You analyse all of the consumer decision making steps, by providing a detailed explanation of your purchase, although further logical explanation was needed. You critically analyse all of the consumer decision making steps by providing an in-depth and logical explanation of your purchase. Theory Knowledge and Application __/30 marks You identify and apply minimal or none of the relevant consumer behaviour theories and concepts from weeks 2 to 5. Your analysis identifies and applies some of the relevant consumer behaviour theories and concepts from weeks 2 to 5. You identify and apply most of the relevant consumer behaviour theories and concepts from weeks 2 to 5. You clearly identify and apply all of the relevant consumer behaviour theories and concepts from weeks 2 to 5. You concisely identify and apply all of the relevant consumer behaviour theories and concepts from weeks 2 to 5. Use of sources/supportive evidence __/10 marks Your research lacks focus because of an unsuitable choice of sources. You demonstrate somewhat focused research, although a better selection and range of sources would improve the quality of your analysis. You demonstrate mostly focused research, although the use of a wider range of sources would enhance the quality of your analysis. You demonstrate focused research, complemented by a wide range of sources. You demonstrate extensive and focused research, complemented by a wide range of sources. Use of Visual Aids __/10 marks A better selection of visual aids would enhance your presentation. Your video includes some
Answered Same DayDec 05, 2021

Answer To: MBA404_T3_2019_Assessment_01_v2 Assessment Information COMMONWEALTH OF AUSTRALIA Copyright...

Dilpreet answered on Dec 10 2021
141 Votes
CONSUMER DECISION MAKING PROCESS
CONSUMER DECISION MAKING PROCESS
Study of individual behaviour of the customers based on their needs, wants, demands and desires.
It is important for marketers to study the behaviour of the consume
rs to influence their buying decisions.
This section shall discuss about five-step model of consumer decision process
Consumer behaviour
It is extremely important for the marketing and sales team of an organisation to study and analyse the buying behaviour of the consumers in the region. These consumer behaviours can be analysed through various theories in order to predict the buying decisions of the consumers. Five-step model of consumer decision process helps consumers to make efficient buying decisions. As opined by Murphy and Dweck (2016) mindsets of the people influence their buying behaviours.
2
Purchase decisions made by the consumers depends largely on the behaviour, choices and preferences of the consumers.
Consumer behaviour theories are used to predict the purchasing decisions of consumers.
Major consumer behaviour theories are
Theories of reasoned action
EKB model
Motivation-need theory
Hawkins Stern impulse buying
Theories of consumer behaviour
As mentioned by Szmigin and Piacentini (2018) in order to predict the buying decisions and behaviour of the consumers marketing experts make use of consumer behaviour theories. These theories help to predict consumer purchasing decisions based on the consumer’s buying pattern. Theory of reasoned action analyses the importance of pre-existing attitudes influencing the decision making process of the consumers. EKB model focuses on five-step model consumers use to make purchasing decisions. Maslow’s need of hierarchy helps to understand the needs and wants of the consumers. Hawkins Stern theory focuses on the impulse behaviour of consumers.
3
need of a product, which will help to me to hydrate the body and will help to provide energy.
Need was to find a product which would help to ease discomfort during the summer.
Number of products available in the market to fulfill the needs.
Difficult to make decision among the choices available.
Step 1: Problem recognition or determination of needs
My need was to choose a product from the several options available in the market, which would help to me to...
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