Guidelines for Consumer Insight Project

Note:
*No AI Content would be accepted.
*Report and Presentation must carry LT. no and group members’ names and roll numbers.
*Due date: 19th April 2024 (Friday)
*The examination date will be announced very soon.

Assessment Item Description Weightage CLO

Consumer Students in a group of 4-5 members are required to 40% CLO 3
Insight Project identify a new product (Socially desirable/sustainable
(Report (Group product) recently launched or to be launched by a
level) & company. After identifying the new product to be
Presentation- launched by the company, students are required to design
cum-Viva the marketing cues based on interaction with prospective
(Individual target group with the use of qualitative studies or focus
level)/ groups discussions.
Submission details: Students (in group) are required to
upload written report in Ms-Word as per the prescribed
format appended below.
Submission deadline: 19th Session
Individual level assessment will be done through
presentation cum viva-voce by the course faculty
(preferably through a panel consisting of course faculty,
research faculty, and corporate executive or consultants).
 Submission details: Soft copy upload on LMS
 Individual Assessment: Written Report (20 Marks)
(CG-3)
 Individual Assessment: Presentation (20 Marks)
(CG-5)
 Collaborative assessment will be done through a
panel consisting of course faculty, research faculty,
and corporate executive (preferably at Pan
Campus level)
Feedback and return of work: Feedback will be given
immediately after assessment.
 Pre/In/beyond class: Beyond class

The proper format and structure of the report is given below. Additionally, the details for

interviews/data collection is also provided.

Go through it properly.
Rubrics

HOW A STUDENT WILL GENERATE CONSUMER INSIGHT?

WHO ARE THEY?

At this point you are required to create as real a picture as possible of the potential consumers for the
new product to truly understand who they are.
Their work, a basic review of their work history, and their family
General profile
situation.

Demographic information
Age, salary, where they live, and gender. Basic demographic information.
What their personality is like and their preferred sales communication
Identifiers
tactics.

WHAT MOTIVATES THEM?

This section is intended to reflect how your business can help them through the following:

Objectives of the consumer Primary and secondary

How can your product or service help to achieve their desired objectives
What can your business do?
and overcome the challenges that they have?

WHAT ARE THEIR PAIN POINTS AND WHY?

Combine the feedback from your interviews and research with feedback from your customers to
highlight your customer's most common objectives, goals, and challenges that are blocking them. This
point is essential when designing your company's ideal Buyer Person. You must be aware of the
problems that make it difficult for you to reach your potential customers. By understanding their pain
points, you'll understand how to fix them.

HOW?

Once you have an in-depth understanding of your customers' needs, it's time to define the messages
you're going to use to reach them in terms of following decisions:
Based on the insights generated about your potential customer what type
Product decision
of modification you will like to suggest in your product and why?
How will you describe your company's solution to your buyer ? How will
Marketing Communication you appeal to their needs? Which medium you will use to reach them and
why?
Which distribution strategy you will use and why? What fuctions you
Product distribution
will expect from your channel partner and why?
Price Which pricing strategy and method you will use and why?

LIST OF QUESTIONS FOR INTERVIEWS

These questions are essential for you to ask during your interview process to develop an insight about
your consumer. Since the objective is to develop a holistic picture of your consumer, it is essential to
ask questions that are not just only related to the new product.

Age?

Location?

Education and level?

Where do you work? Role or

position?

What is your work experience?

Income
level?(Family/Individual)

Family situation?

Ambitions?

Hobbies?

What's your biggest challenges,

work-wise?
What media or devices do you
use in your daily life to get
information?
Where do you go to find
solutions to your work
challenges?
Who do you listen to in order to
find solutions to these Friends, colleagues, media, reference people, influencers, etc.
challenge?
What is your daily routine?
Describe your day-to-day, and
This will help you understand opportunities where your product or
highlight where these challenges
service can help before or when the problem occurs.
occur to better understand the
situation.
What is the main objective or
problem that our brand could Talk about the pains or opportunities they face.
help you meet or solve?
Why can't you achieve your goal
or solve your problem today?
What's stopping you or what's
missing?
How can our product or service
help you solve the problem or
meet your goal?
What is a short-term goal you
have that will let your know that
you're in the right direction to
solving your overall problem?
What is the real and practical
effect of solving your problem or
achieving the goal? What do you
want?
What features, functionalities or
benefits do you value most about
the product or service that will
solve your need?
What are your main objections
or barriers to purchasing the
product or service?

What do you think and feel? Expectations, inspirations, fears, motivations and concerns.

If the answer is No, the target segment needs to be re-analyzed and

Do you have enough budget to
designed. Do you have another product or service of lower value that
meet your need?
could appeal to them instead?
Do you have the decision- If your customer is a company, you will need to anchor yourself to
making power to achieve your positions or positions that have the power to decide to buy your product
goal? or service.
Will you solve your problem
It is important to focus on future customers who are at the time of
(make a purchase) shortly or
decision-making.
within a certain time?

PRESCRIBED FORMAT FOR WRITTEN REPORT PREPARATION

Title page
Declaration by the student
Table of content
1. INTRODUCTION
i. Background of the study
ii. Relevance of the study
iii. Objective of the study
2. CONCEPTUAL FRAMEWORK
3. METHOD
i. Method of investigation
ii. Target population
iii. Sample design
iv. Demographic profile of the sample respondents
v. Period of the study
4. ANALYSIS AND INTERPRETATION
5. FINDINGS AND CONCLUSION
i. Findings of the study
ii. Conclusion of the study
iii. Implication
iv. Limitations