Term Paper
Review copies of a previously written paper are on reserve in the Library.
One important theme of this course is that a consumer decision process model can be developed for all consumer decisions. An understanding of the stages involved in consumer decision making is essential to marketing strategy development for all products and services.
Students are strongly encouraged to work on the term paper in groups of two to four. The assignment requires each group to select a product (see list of products) that requires extensive problem solving, and develop a decision process model for that product. In addition, differences in consumer decision making across market segments (e.g., expert versus beginning tennis players) will be examined.
We will develop topics relevant to this assignment throughout the semester. It is important for each group to start thinking about their paper from early on in the semester. A substantial effort is expected, and the papers will be evaluated on the group's ability to apply relevant concepts.
The paper requires interviewing a minimum of five people (either final consumers, retailers, advertisers, or others with knowledge about the consumer decision process). The names of these people, their phone numbers, and all notes taken during the interviews must be provided with the paper.
The paper requires identification of three key market segments for the product and to contrast the similarities and differences in decision making across these segments. The role of outside influences (social class, reference groups, etc.) in affecting decision making in each target market should also be examined. Grades will be based on presentation (organization, readability, grammar, general communication skills) as well as on content. All sources must be referenced. Footnotes must be included at the bottom of the page (in proper form) or on an endnote page at the back of the report.
Recommended length: 15-20 pages including references.
Maximum length: 25 pages. Anything beyond 25 pages will not be read. Note: Your ability to clearly communicate findings will be an important component of your grade. Avoid grammatical errors, spelling mistakes, and confusing sentences.
Outline for Term Paper
1. Table of Contents - Use page numbers
2. Background: Use secondary sources. 3-4 pages. You must use outside references to develop this aspect of the paper.
• industry trends
• economic/technological/legal/competitive
• developments affecting market
• major brands in product class
• recent new brands
3. Decision Process Models (10-15 pages)
Take each stage of the decision process (4 stages) and contrast the three market segments at each stage. Use subheadings to separate your discussion of the 4 stages.
4. Marketing Applications (3-5 pages)
Implications of foregoing analysis for product, price, distribution, and promotion strategy. How can marketing managers use these findings concerning decision making to develop marketing strategies for various segments?
5. References
6. Attach names of people interviewed, phone numbers and interview transcripts.
Important Issues to Keep in Mind
1. A comprehensive literature review must be conducted for section 2.
2. The key section of this paper (section 3) requires you to contrast the market segments at each stage of the decision process.
3. You must consider the influence of outside factors (reference groups, family, etc.) on decision processes for each target market.
4. Develop marketing applications of your findings and conclusions.
5. Organize the report with appropriate subheadings. Avoid repetition. Carefully proofread the paper for grammar, punctuation, and spelling. Make the paper easy to read, interesting, and informative. Quote directly from your interviews if you feel this helps highlight or dramatize a particular point.
6. At any time you may submit your paper to me for review and suggestions.
TERM PROJECT PRODUCTS:
You must choose one project from the following list:
1. DVD player
2. Home Computer
4. Diamond Ring
5. College or University
6. Wedding dress
7. Doctor
8. Digital camera