MKT42210 Behav Insights Value Creation

Academic Year 2019/2020

The objective of the module is to understand and predict consumer decision making. In particular, I focus on behaviour that is predictably irrational. For example, people are far more likely to travel for twenty minutes in order to save €5 on a €15 jacket than they are to save the same amount on a €125 jacket. Why are people inconsistent in the value they place on €5? What implications does this have for your marketing strategy? This course will give you the tools to answer questions such as these.
You will read and discuss state of the art experiments from top journals in marketing, psychology and economics that elucidate biases in decision making. You will also learn how to conduct your own experiments so you can predict consumer behaviour. You will be working with quantitative data in this course, and will be taught all the statistics you need to know in lectures.
The tools you acquire in this course will be useful throughout your career. In an age where companies can experiment on their online customers with a stroke of a keyboard, this material has immediate applications in business. The course might even prompt you to recognise biases in your own decision making.

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Curricular information is subject to change

Learning Outcomes:

Behavioural aspects of Marketing. On completion of Part A students will have achieved the following :(1) Be familiar with research in consumer judgment and decision making. (2) Be aware of the dominant theories of behavioural decision making and their implications. (3) Know where to find new research in the field. (4) Have the faculties to read research: to interpret statistical results; to recognise confounding factors; to appraise the applicability of the result to the real world. (5) Be able to undertake their own experiments in consumer behaviour: to turn a question into a testable hypothesis; to gather the data; to analyse and interpret the results.

Student Effort Type Hours
Lectures

24

Small Group

48

Practical

48

Specified Learning Activities

20

Autonomous Student Learning

80

Total

220

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.  
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Multiple Choice Questionnaire: < Description > Unspecified n/a Graded No

30

Presentation: < Description > Unspecified n/a Graded No

30

Group Project: < Description > Unspecified n/a Graded No

40


Carry forward of passed components
Not yet recorded
 

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