| Module Title |
Consumer Insight Generation |
| Module Code |
MAD1030 (ITS: MT5159) |
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Faculty |
DCU Business School |
School |
DCU Business School |
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NFQ level |
9 |
Credit Rating |
7.5 |
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Description
A market insight is the discovery of a relevant, accurate, actionable and previously unrealized reality about a target market that emerges as the result of deep, subjective data analysis combined with rich ethnographic data about how people behave. The goal of insight in marketing, especially when marketing or developing something new, is to benefit both parties, meeting your target audience’s true needs and wants while simultaneously providing the brand with an anchor in the consumer’s mind. In other words, the best market insights offer value for both the seller and the companies in need of the innovation.Desired attributes of an insight is something that shifts understanding, is novel, is not obvious, is congruent, is explanatory and has endurance. Gary Klein(2015) refers to insight as ‘shifting to a better story’. In this module, we will discuss the components of insights; we will show how they can be leveraged not simply for tactical advertising but for sustainable innovation and we will review some world class examples.
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Learning Outcomes
1. Initiate and lead insight development initiatives and workshops
2. Understand the role of insights in innovation
3. Interpret or interrogate raw market research data in search of insights
4. Champion the use of insights in their organization and their innovation programme
5. Understand the sources of insights - and know how to test for actionable insights
6. Be conscious of ethical issues that may emerge in mining for insights and have a strategy to manage them.
7. Be able to translate fundamental consumer or customer insights to an international audience.
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| Workload | Full time hours per semester | | Type | Hours | Description |
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| Workshop | 24 | Workshops with an interactive exploration of prescribed reading, case studies, and ongoing assignments reviews and lectures. | | Group work | 50 | Group project work | | Independent Study | 75 | Independent Study |
| Total Workload: 149 |
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| Section Breakdown | | CRN | 11856 | Part of Term | Semester 1 | | Coursework | 0% | Examination Weight | 0% | | Grade Scale | 40PASS | Pass Both Elements | Y | | Resit Category | RC1 | Best Mark | N | | Module Co-ordinator | Peter Robbins | Module Teacher | Eadaoin McCarthy |
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| Assessment Breakdown |
| Type | Description | % of total | Assessment Date |
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| Group assignment | Group Assignment - Presentation and 2000 Word Report
For the group element, students will be asked to investigate, research and identify critical factors in certain successful case histories where the consumer insight has been an acknowledged driver for success , generally in the food, beverage and horticulture area. Students will be required to analyse the strategy and write a detailed critique of how the firm leveraged the insight to derive competitive advantage. | 50% | As required | | Assignment | Individual Assignment - 4000 Words
Develop a new product idea based on a penetrating insight aimed at unlocking business growth:
● Collect and formulate your assumptions into hypotheses that can be tested to unlock meaningful insights
● Conduct experiments to create a continual flow of learning about the category and the consumer
● Derive patterns and meaning from the feedback you’ve collected from customers
● Improve your confidence when making strategic business and product decisions
● Track the progression of your assumptions, hypotheses, early ideas, concepts, and product features with step-by-step playbooks
● Improve customer satisfaction by creating a consistent feedback loop | 50% | As required |
| Reassessment Requirement Type |
Resit arrangements are explained by the following categories;
RC1: A resit is available for both* components of the module.
RC2: No resit is available for a 100% coursework module.
RC3: No resit is available for the coursework component where there is a coursework and summative examination element.
* ‘Both’ is used in the context of the module having a coursework/summative examination split; where the module is 100% coursework, there will also be a resit of the assessment
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Pre-requisite |
None
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Co-requisite |
None |
| Compatibles |
None |
| Incompatibles |
None |
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All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml
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Indicative Content and Learning Activities
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Indicative Reading List
Books:
- Lowdermilk and Rich: 2017, The Customer-Driven Playbook - Converting Customer Insights into Successful Products, O’Reilly Publishing,
Articles:
- Smith, B., Wilson, H., & Clark, M.: 2006, Creating and using Customer Insight: 12 Rules of Best Practice. Journal of Medical Marketing,, 6(2), 135-139, 65184
- 2014: Generating consumer insights, Principles of Integrated Marketing Communications, Cambridge University Press.,
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Other Resources
None |
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