The aim of this exercise is to undertake the exercise in relation to the 5 Step Consumer Decision Making Process:

1. Problem recognition

2. Information search

3. Evaluation of alternatives

4. Choice/Purchase

5. Post purchase evaluation/behaviour

The assessment requires you to consider the five step Consumer Decision Making model in relation to buying a car.

Imagine you have been given a budget of $55,000 (including on-road costs) to buy a new car. In your individual assignment, you must discuss and demonstrate how you would go through each step of the 5 step consumer decision making process.

Identify (1) the steps you would take as a consumer, and identify (2) the relevant theory models used in each step.
Additional details in relation to the project will be supplied during weeks 1 and 2 in relation to project framework and expectations.
Cars are to be models available in Australia and be selected from the following brands ONLY:
Mazda, Toyota, Hyundai, Ford, Mitsubishi, Volkswagen, Nissan, Holden.

Report should be maximum 3,000 words not including figures, tables, references and appendices.

Submission: In class

Extension Penalties: No extensions will be granted. Late submission will be accepted up to 48 hours after the submission deadline.  There will be a deduction of 20% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 40% penalty). This penalty does not apply for cases in which an application for Disruption of Studies is made and approved.

Consumption communities (focusing on influences on, and marketing strategy responses to consumer behaviour on consumer culture consumption communities).

Groups are asked to select a consumption community (communities of consumers in which there is a commonality of consumption of brands, services or products). For example consumption communities are often formed around sport, music, fashion, or online services, or specific brands such as Harley Davidson motorcycles; Apple computers, laptops and phones; or Carling lager.

In your groups you are then required to:

• 1. Conduct market research: Use market research to identify what is the industry, and key facts for the industry (e.g. sports, motorcyles, computer electronics). Consider trends, values, volume, channels, competitors, and marketing strategy.
• 2. Consumer profiles: Who are the consumer that may be members of consumption communities formed around your brands, services or products? How do they buy, where, when, why, what and how?
• 3. Community structure: What are the structures, boundaries, rules and norms associated with consumers being members of your consumption community of focus? For example if consumers are members of consumption community surrounding a sport - what are the common values, rituals and traditions, and structures guiding how members of the community interact with each other and with the brand, product, or service?
• 4. Strategy: How do you best engage consumers into purchasing products, services or brands? What do they need to know? How do you fulfill the 5 steps of the Consumer Decision Making Model?

Groups will present their work in four stages:

KEY MILESTONE DATES:

• 1. Due Week 3 – Project Plan: The Group is to present the Project Plan covering the key aims and objectives of the project and a timeline. Maximum 2 pages. Not assessable but will form part of the Key Issues Report due in Week 6.
• 2. Due Week 6 – Key Issues Report: Key findings from research and conclusions in relation to strategy. Update of the aims, objectives and timeline. Maximum 1,000 words (5%).
• 3. Due Week 12 – FINAL Report: Submission of the FINAL Report. Report Details will be delivered in class (Weeks 1 and 2) and the Report Framework available on i-Learn from Week 3. The FINAL Report is to display academic theory and commercial application to the task and demonstrated balance will be required using the appropriate business models. Maximum 3,000 Words not including tables, figures, references and appendices (15%).
• 4. Due Weeks 11/12 – Presentation: Groups will present the key findings and conclusions of the report. This will be a 20 minute Presentation and delivered in class. ALL STUDENTS are expected to attend these two weeks. MARKS will be deducted for non-attendance. Max 15 slides in TOTAL. PowerPoint Slides are to be printed and submitted for marking at the conclusion of the Presentation. Combined Mark is (10%)

Rationale for the group project assessment:

The group project puts students into a real-world scenario to apply what has been discussed and learned in class. It aims to provide a training opportunity for students to build and refine their cognitive and analytical skills to detect, evaluate and respond to market trends that influence consumer behaviours.

The project is composed of four sequential tasks of different types, each of which will be assessed.
Each task offers an opportunity to learn and practice particular knowledge and skills. Students are required to work in a group consisting of approximately 4 members.

Submission: In class

Extension Penalties: No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for Disruption of Studies is made and approved.

Submission: N/A

Extension Penalties: No early examination will be granted.