Project Guidlines

Project Execution The project consists of an analysis of consumer behavior for one of the following 9 products:

1. 2. 3. 4. 5. 6. 7. 8.

Sports Shoes Perfumes Toothpaste Personal computers Television sets Cellular phones Chocolates and confectionary Motor cycles

One product is to be allocated to each group.

Phases in Project Execution

The project will be carried out in the following phases:

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Data collection: This will include an in depth study of the current business scenario for the particular product. Students may use the following methods for collection of information:  Market visits – discussions with buyers and consumers.  Company visits – students may visit company offices, retailers and distributors and discuss industry issues and factors that influence customer choices with business personnel.  Internet use – students may use the Internet to gather information from company websites, industry reports etc.

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Analysis: This stage requires students to analyze the information they have collected and decide on the salient points. Students are required to develop the inputs for the report. Specifically, students should cover the following salient points:  Who are the consumers?  Who are the customers?  Which are the major firms/brands in the market?  What are the buyer needs that prompt them to purchase these products?  What are the parameters that customers keep in mind while making their choices?  What are the factors (social, personal and psychological) that make these parameters important to consumers and customers? For instance, how does income, reference groups, culture, lifestyle etc. affect consumer choices?  Which parameters are being highlighted/catered to by the major firms/brands?

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Documentation: This stage requires the student to fill in the blank project format and submit it to the coordinator.

Project Evaluation Guidelines Project Booklet

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The project is to be evaluated on the following parameters:

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Quality: Conformance to the requirements specified – 30 marks. Depth and accuracy of details in the project report and the presentation. Timeliness: completion of project within the specified timelines – 20 marks. Quality of documentation: Adherence to specified standards – 20 marks.  Completion of all formats.  Adherence to standards and guidelines.  Appropriate explanatory notes and comments. Query handling during project presentation: Coordinators may ask students for clarifications during the project presentation. Students are expected to answer these queries satisfactorily - 30 marks.

Project Standards and Guidelines The following standards and guidelines are to be followed while creating the project. Following these standards and guidelines is one of the evaluation criteria for the project:

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Mention all information sources and references. For instance, mention names of books, URLs, names of company personnel and consumers encountered during market visits etc.

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Insert explanatory notes and comments wherever necessary.

Project Activities The student has a total of twenty-four hours (three days) to work on the project and deliver the presentation. The activities to be carried out by the student during this period are:

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Collect the necessary information. Analyze the data and information and come up with insights. Document the project using the formats given in the later section. Submit the documentation to the coordinator. The students will deliver a presentation on the project. The coordinator will assign marks based on the specified evaluation format.

Project Timelines The students should follow the following timelines to complete the project: Day # 1 2 3

Task to be Performed Data collection Analysis Documentation

Project Booklet

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Sample Project Documentation: Consumer Behavior Project on Consumer Behavior

Developed by

Name: David Williams

Project Booklet

Reg. No.: 4701-10-254

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Consumer Behavior (Project Title)

Batch code

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B030001

Start date:

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June1, 2003

Name of coordinator

: Hoang Duc Binh

Name of student

: David Williams

Date of submission

: June 4, 2003

Project Booklet

End date: June 3, 2003

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Acknowledgement

I have benefited a lot from the feedback and suggestions given to us by Mr. Alex Norton and other faculty members.

Project Booklet

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Consumers and Customers

In this section, the student is expected to mention:

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The different buyers for the product. The different users of the product – self, family, friends, business clients, office staff, etc. The difference between customers and consumers is to be brought out in this section.

Project Booklet

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Major Firms and Brands

In this section, the student is expected to mention:

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The major firms in the students' home country for the concerned product. The major brands. A brief note on their recent performance (in terms of market share or profitability)

Project Booklet

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Needs and Features

In this section, the student is expected to mention:

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The different buyers needs for the product. For instance a customer may buy a new shirt in order to keep up with fashion trends, because the customer needs new clothes or to gift to somebody else. The product features that the customer considers to be important in order to satisfy the abovementioned needs. Please note, that different consumers may have different needs and thus different consumers may require different product features. Try to mention these different needs and the corresponding product features.

Project Booklet

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Cultural Factors

In this section, the student is expected to mention:

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How cultural factors affect consumer choices for the product. Specifically how culture, sub-culture, cross-culture and social class affect consumer behavior for the particular product.

Project Booklet

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Personal Factors

In this section, the student is expected to mention:

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How personal factors affect consumer choices for the product. Specifically how reference groups, family, age, lifecycle stage, occupation, economic circumstances and lifestyle affect consumer behavior for the particular product.

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Psychological Factors

In this section, the student is expected to mention:

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How psychological factors affect consumer choices for the product. Specifically how motivation, perception, personality, self-image, learning and attitudes affect consumer behavior for the particular product.

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Company Strategies

In this section, the student is expected to mention:

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What sort of customers the firms are trying to attract. Different firms may be targeting different customer profiles. For instance, an apparel manufacturer might be designing clothes specifically for teenagers or working executives. The strategies would thus differ considerably. How the companies aim to be successful in attracting a particular class of consumers. For instance, if a company is trying to attract middle-income consumer groups, the pricing should be done accordingly.

Project Booklet

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