Consumer Behavior(MKTG 301; W16; Dr. Carter)

*** Aggregate Consumer PSYCHOGRAPHICS Market PATTERN Group Learning Activity (20pts) ***

NOTE: Must complete ALL Sections of Assignment to receive grade. Otherwise grade = Zero

DUE DATE:Standard Track – DUE SATURDAY MARCH 5TH @ 11:59pm (No faster grading of assignments submitted earlier)

INTRODUCTION

The lessons from Section 2 of the course address aggregate consumer/customer interaction patterns. These aggregate consumer patterns translate the individual consumer identity profiles into market segment indicators for guiding brand strategy. Whereas identity profiles are used to design brand value based on “mind schema” (e.g., Mind Games theme song), interaction patterns are used to deliver brand value based on “market strategy” for targeting the best consumer catch (e.g., “Fish in the Sea” theme song).

Aggregate consumer interaction in the market, both traditional and digital, can be understood by both applying textbook concepts (“fishing nets”) and analyzing data tables (“schools of fish”). In a very real sense, the Consumer Behavior concepts provide the strategic application frameworks for grasping the market patterns depicted by data tables. Each concept informs us about the important target market patterns to consider when analyzing data table indicators. Once the conceptual meaning of data patterns is known, brand strategy “bait” can be compatibly matched with consumer “data fish” in the real world “market sea.”

The Section 2 class sessions have provided both textbook concepts for understanding aggregate consumer markets and practical hands-on interaction with real-world data tables. Now, it’s YOUR turn to show what YOU have learned! Therefore, this Aggregate Consumer Market Pattern Learning Activity Assignment allows YOU to demonstrate both the ability to apply Consumer Behavior concepts and the aptitude to analyze market segment data for brand strategy.

Psychographics are the specific category of aggregate consumer/market patterns that the assignment examines. Psychographic market patterns are prominent in the market (traditional and digital), reflect contemporary consumer lifestyles, combine multiple Consumer Behavior concepts/characteristics, are adaptable to diverse global cultures/markets, and play a vital role in target market analysis for brand strategy.

In addition, as a practical matter for this assignment, the Nielsen “My Best Segments” interactive website features real world psychographic categories with descriptive data and an ability to prioritize psychographic segments based on several Consumer Behavior characteristics. For your convenience, screen shots of all the market segments included in the three sets of psychographic categories are pasted on the pages following assignment instructions, with website links.

Formatting Requirements for the assignment include:

Name the assignment document … “MKTG.301_LA2 (insert your last name)” Use ONLY Microsoft Word documents (NOT PDF documents) Page margins of 1 inch on all sides, number pages at the bottom, and use Times 12 pitch font Bolded subheadings corresponding to each of the five (5) instruction steps below.

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*** Aggregate Consumer PSYCHOGRAPHICS Market PATTERN Group Learning Activity (20pts) ***

INSTRUCTIONS

The Aggregate Consumer Market Pattern Learning Activity Assignment requires you to perform five (5) logical steps that typify brand strategy management techniques for deciphering consumer market patterns, in order to select the best target market match. Each of these steps is supported by course knowledge from lectures, textbook concepts, data tables, and website content links.

1) Select a brand to market (2pts) – Choose one (1) brand product/service type from either your personal experience or by searching the lists of brands linked on the course website http://www.csub.edu/~ecarter2/F15%20CB.htm. Then describe the brand’s “identity” and “value proposition” based on Chapters 5 and 6, or general definitions of “brand identity” from Wikipedia, etc., as well as course website links for “value proposition” (3-5 sentence or bullet-point response).

2) Select a psychographic segment data set (required) – Choose ONLY ONE (1) of the three types of psychographics presented on the Nielsen “My Best Segments” website: PRIZM -- general socio-economic lifestyle categories P$YCLE – financial/monetary household asset categories ConneXions – digital/social/mobile technology preference categories

3) Describe the psychographic pattern “narrative” (4pts) – After exploring the entire set of psychographic segments displayed at the “Segment Explorer” tab, compose an overall “narrative” that describes the pattern of psychographic market segment data/facts that comprises either, PRIZM, P$YCLE, or ConneXions. Your response should provide an explanation of the overall “pattern” that is conveyed by the types of categories and labels within the one (1) psychographic set that you choose (either PRIZM, P$YCLE, or ConneXions). To respond, you should look at the categories and labels provided for each entire set of psychographic segments the following pages in this packet. Or, similarly, by looking at the entire set of categories when viewing online at the Nielsen website. You are not supposed to open any specific psychographic segment category profile or click on any functions to complete this response. Instead, describe the “narrative pattern” conveyed by the entire set as a whole.(5 – 7 sentence/bullet-point response … with no maximum)

4) Apply specific Consumer Behavior textbook CONCEPTS (9pts): For each of the concept chapters (11, 12, 13) you must use the “sorting” menu of factors shown in the

column to the right to FIRST select which two or more factors are most closely related with the specific chapter’s concepts, and SECOND use those two or more factors to “sort” the chosen psychographic segment set (PRIZM, P$YCLE, ConneXions) and generate the output for finding the three best segment categories for each concept chapter – as outlined below. THIRD, you must explain why those “sorting” factors are related to the specific concept chapter (11, 12, 13), and FOURTH how the three best segment categories represent both the “sorting” factors and the chapter concepts.

Which three psychographic segment categories best depict Chapter 11 Social Reference Group influences – including social media networks, and why? (5-7 sentence/bullet-point response for each of the three “target” segments, with no maximum. 3pts)

Which three psychographic segment categories best depict Chapter 12 Social Class influences and why? (5-7 sentence/bullet-point response for each of the three “target” segments, with no maximum. 3pts)

Which three psychographic segments best depict Chapter 13 Subculture influences and why? (5-7 sentence/bullet-point response for each of the three “target” segments, with no maximum. 3pts)

5) Match the BRAND to the best psychographic TARGET MARKET SEGMENT (5pts) -- Select the one (1) psychographic “Target Market” that best matches the “brand identity” of your chosen product/service brand and describe which factors were used to perform the pattern analysis that revealed the best psychographic segment and why that “Target Market” matches the “Brand Identity.” (10 – 15 sentence/bullet-point response)

*NOTE: In order to correctly apply Consumer Behavior textbook CONCEPTS (step 4) and analyze psychographic TARGET MARKET PATTERNS (step 5), you must use the “sorting” menu of factors shown in the column to the right. (Pasted from “Segment Explorer” tab page on Nielsen “My Best Segment” website)

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PRIZMhttp://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=1027&prevSegID=2000&filterstate=&sortby=segment_code

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PRIZM (continued)http://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=1027&prevSegID=2000&filterstate=&sortby=segment_code

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P$YCLEhttp://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=2000&prevSegID=1027&filterstate=&sortby=social_group_code

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P$YCLE (continued)http://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=2000&prevSegID=1027&filterstate=&sortby=social_group_code

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CONNEXIONShttp://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=2611099&prevSegID=2000&filterstate=&sortby=segment_code

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CONNEXIONS (continued)http://www.claritas.com/MyBestSegments/Default.jsp?ID=30&menuOption=segmentexplorer&id1=2611099&prevSegID=2000&filterstate=&sortby=segment_code

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