MKB2703 - Consumer psychology - Monash University

Overview

A key role of consumer psychology is to provide organisations with insights into how consumers think, feel, and act. In this unit, you will explore the psychology behind consumer decision making and behaviour. You will examine ways in which marketers leverage consumer needs, motivations, and perceptions to configure product and … For more content click the Read More button below.

A key role of consumer psychology is to provide organisations with insights into how consumers think, feel, and act.

In this unit, you will explore the psychology behind consumer decision making and behaviour. You will examine ways in which marketers leverage consumer needs, motivations, and perceptions to configure product and service offerings. Using this knowledge, you will gain practical experience in developing consumer profiles as well as positioning and strategies for various products and services. This unit of study is also designed to strengthen your skills in identifying consumer insights.

Offerings

S1-01-PENINSULA-ON-CAMPUS

Requisites

Prohibition

Contacts

Chief Examiner(s)

Associate Professor Fiona Newton

Notes

MKX2111 can be taken as an alternative to this unit

Learning outcomes

On successful completion of this unit, you should be able to:

explain how psychological characteristics of consumers can influence consumer decision making

discuss how external factors can influence consumer decision making

discuss core theoretical explanations of consumer decision making

apply acquired knowledge of consumer psychology to segment markets and develop appropriate marketing strategies.

Teaching approach

Problem-based learning

Active learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Lectures

Tutorials

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Learning resources

Required resources