Key ProjectThe purpose of the Key Project is to develop a strategic solution to a marketing problem that requires consumer insights to solve.You should select a realistic marketing issue in which consumer behavior plays a critical role. This issue can be one that your company or organization is challenged with, one that you can acquire information about by reading business or other publications, or one which you partner with an actual company to solve.The task for the project is two-fold: Diagnose the key issues underlying the consumer behavior problem Develop a marketing recommendations consisting of suggestions for addressing the problemsTo better understand the problem, you will be expected to obtain secondary data from the library, trade organizations, the company, etc. Next, you will conduct primary research. This might entail conducting in depth interviews with one or more segments of relevant, but reasonably accessible consumers and influencers, run focus groups, administer surveys, and/or develop experiments.Reports will be evaluated on the following criteria: Extent and soundness of the insightful inferences and recommendations or conclusions drawn from the your references, primary research data, and general knowledge The soundness and internal consistency of the logic offered for all recommendations Appropriateness, quality, and thoughtfulness of primary research materials, data analysis, and data interpretation Comprehensive and thoughtful coverage of the issues Extensiveness and insight worthiness of references Identification and application of relevant consumer behavior concepts/theories from the course Presentation of the report in terms of organization of material and its logical presentation flow, sentence structure, and general professionalism Inclusion of appendices that offer details such as those pertaining to primary research and documented referencesSample Problem Statements: Problem Statement for Google Nest: What are the consumer barriers to to adopting Smart Home technology products? Problem Statement For Whole Foods (or any Grocery Retailer): How is technology, delivery services, and ecommerce changing the way consumers shop for and buy groceries? Problem Statement for a Hotel: How do online consumer reviews impact consumer choice for hotel bookings? Is customer satisfaction important and why? Example for ecommerce Retailers: What do consumers want, expect, and need when shopping, buying, and receiving products? Example for a Bank: Why checking and money market accounts were closed and to what degree accounts were closed for reasons controllable by the bank?The Final Project report should be 10-12 double-spaced pages and contain the following outline: Introduction Background: A statement of the marketing problem that needs to be solved Methodology: A description of the methodology used for the research (0.5 – 1 page) Detailed Findings: Thorough analysis of both the consumer behavior issue and the findings of the research (3-5 pages) Recommendations: Prescribe marketing actions based on the analysis (3-5 pages) Appendix: Containing details of research instrument(s) used, methodology, data analysis, and references to secondary research (pages do not count in report)Format: PDF file. 10-12 pages. 12-point Times New Roman font. Double space. One-Inch Margins.
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