Understanding Consumers and Markets

Description

Overview: This course explores the fascinating world of why consumers think, choose, and behave the way they do, knowledge that sits at the core of modern marketing. You’ll get to know the major ideas that explain how people make decisions, starting with individual consumers: how they perceive the world, what motivates them, and how they evaluate choices. From there, you’ll look at the bigger picture: the influence of friends, family, culture, and social identity on what people buy and why. Because consumption is part of everyday life, you’re encouraged to use your own experiences as examples, helping the theory feel real and relevant. Alongside understanding consumers, you’ll learn how marketers gather and interpret customer insights. The course introduces both quantitative and qualitative research methods and shows when each is most useful. Through tutorials and assessments, you’ll develop key research skills used by marketing teams, agencies and brands: • Designing and interpreting surveys • Preparing for interviews and focus groups • Analysing data to uncover patterns in behaviour Understanding consumer behaviour in the light of key issues such as sustainability, ethics, and socio-cultural inequality will help you build a more rounded and up to date understanding of marketing in our globalised world. By the end of the course, you’ll understand how consumer insights shape real marketing decisions and be ready to apply this knowledge in your ongoing studies and in professional contexts. Syllabus: A full class outline will be made available at the beginning of the semester. Learning Outcomes: By the end of the class, students are expected to develop and demonstrate knowledge, understanding and skills in the following areas: • Understanding what consumers are and their roles in the marketplace. • Understanding consumer decision-making processes. • Understanding consumers as individuals: internal influences on consumer behaviour. • Understanding consumer culture and lifestyles: social influences on consumer behaviour. • Understanding how market research provides consumer insight. • Understanding the need for an integrated approach to marketing research and other sources of customer information. • Understanding the marketing research process and the activities involved in managing a marketing research project. • Understanding quantitative and qualitative research methodologies. • Understanding the professional and ethical responsibilities of marketing researchers. • Transferable skills will include analytical skills, application skills, discussion skills, and library skills. Assessment: Assessment for this class will be via a group assignment (30%), one multiple choice test (20%) and a written exam (50%).