MMM129-Consumer Intelligence: New Consumers, New Markets

Module Provider: Marketing and Reputation
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2018/9

Email: ruby.zhang@henley.ac.uk

Type of module:

Summary module description:

Generating a deep understanding of contemporary consumers is a challenge for every organisation and marketing professional because of the constant evolution of consumer behaviour. This module aims to provide a theoretical basis and practical tools to help modern marketers to better understand contemporary consumers. Moving from a macro view of consumer behaviour, this module will discuss contemporary approaches to understand group and relational consumption, social processes and communication. ‘Word of Mouth’ influence and social marketing metrics will be examined in light of this sociological evolution of the connected consumer. Additionally, the impact of digital technology and its impact on consumer behaviour will be discussed. Using such technologies in social media has created a virtual space where consumers can meet up and discuss their needs and wants (ultimately about goods and services) without space and time boundaries. Consumers are continuously, interacting with each other and with brands/organizations on different devices and with different media. Forward looking companies and contemporary marketing professionals need to be able understand contemporary social phenomena and tap into these (digital) discussions to generate a critical understanding of the connected consumer and to engage with them in an agile and meaningful way. Theories, tools and analysis techniques will be presented and reviewed in order to create a contemporary strategic marketing toolkit to generate consumer intelligence especially from the digital arena. The module will also touch upon Mobile Marketing, Internet of Things, Wearables, Virtual Reality and Neural Marketing as application domains for customer intelligence. 

Aims:

This module aims at providing students with theories, strategies and techniques to understand contemporary consumer behaviours and especially group and relational consumption, social processes and communication with a focus on the digital environment which can facilitate the generation of consumer intelligence. Taking a multi-disciplinary approach and moving from the concepts such as group consumption, social processes and group communication, the module will discuss the role of modern consumers within communities of interest in physical and digital spaces. Omnichannel and mobile consumer trends as well as purchase behaviours will be discussed along with the concept of the SMART consumer and the new technological trends. 

Assessable learning outcomes:

Having completed this module the student is expected to:

1. Critically discuss contemporary consumer behaviour within a collective social media environment


2. Critically evaluate theories underpinning contemporary consumer behaviour towards the generation of consumer intelligence;


3. Design strategies and tactics to harvest, analyse and get insights from consumers’ data;


4. Synthesise appropriate, consistent, and creative action plans to target modern consumers.

Additional outcomes:

• Critically interpret consumer insight to generate marketing intelligence;


• Effectively organize, plan, and work both collaboratively and individually;


• Communicate consumer analysis effectively through both verbal and written reporting;


• Appropriately apply theory into practice in different market contexts.

Outline content:

o          Groups, Social Processes and Communication

o          New Consumers and  New Markets

o          Word of Mouth and the Connected Consumer

o          Consumers and The Community

o          Sociocultural trends in Consumer Behaviour

o          Social Media and Crowd Cultures

o          Omnichannel and Ubiquitous Consumers

o          Engaging in Online Social Networking

o          Digital Shopping and Showrooming

o          Smart Consumers

o          Data mining and data analytics

o          Internet of Things and Wearables

o          Virtual Reality and Neural Marketing

Brief description of teaching and learning methods:

In this module students will undertake a series of lectures, seminars and workshops. Lectures contents will be based theories to understand the shift of consumer behaviour towards a more social arena focusing especially on the digital context. During the seminars students will be confronted and will discuss real case studies based on the topics discussed in the lectures. During workshops students will be introduced to tools and techniques to better understand contemporary consumer behaviour and generate customer intelligence through digital media. Workshop will be organized to support and tutor students in creating their client project.

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

Students will be assessed in three ways:

• ILOs 1 and 2 – Students will undertake an individual reflective work of 2000 words worth 50% of the module mark, to be submitted 2 weeks after the end of lectures.


• ILOs 3 and 4 – Working in groups, students will be asked to design strategic and tactical actions for a given client to tackle contemporary consumers’ evolution (30% of the unit mark) the week after lectures finish and to present and defend their choices in front of the class and the client (20% of the unit mark) in the last lecture.

The individual evaluation will take place at the end of the module and will consist of an individual reflective work of 2000 words (50% of the module mark). The coursework will consist in a client project carried out in small groups (approximately 4 students per group - 30% of the module mark). Furthermore the presentation, part of the coursework will be assessed separately (20% of the module mark) and students will be asked to explain and defend their client project.

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

A weighted average mark of coursework and examination of 50%.

Reassessment arrangements:

Students failing the module will be re assessed by an individual essay.

Additional Costs (specified where applicable):

Last updated: 28 January 2019