Grades will be based on the following:

Final (Class Project)                                                                                60%

Class participation (attendance, case discussion, etc.)                          40%

CLASS PROJECT

The aim of this project is to apply the course concepts and materials in a real world situation. While students can focus on traditional consumer behavior studies; however, given that Artificial intelligence (AI) is permeating individuals’ daily lives and as such has various long-term marketing implications, this year’s theme will focus on the impact of Generative AI to reshape business models, industries, and global economies. The goal of this project is to look at the impact on AI on marketing – both on how AI can be used in marketing to consumers, and how consumers perceive the impact of AI in their consumer journey. Students will do this project in groups of 3-5.

 

Potential topics include:

1. Market Dynamics and Consumer Behavior: Assessing the influence of Generative AI on market dynamics, consumer preferences, consumer-brand relationships, information search, and consumption patterns, as well as the potential for personalized and targeted marketing strategies.

2. Policy and Regulatory Implications: Discussing the evolving role of policy and regulatory frameworks in response to the rapid adoption of Generative AI in the business landscape, including data privacy, copyright, security, and ethical considerations.

3. Industry Applications: Applications to a range of industries including Finance and Healthcare as well as the integration of Generative AI in supply chain management, logistics, and operations.

4. AI Ethics and Social Responsibility: Addressing the ethical challenges and social implications of Generative AI in business, such as algorithmic fairness, transparency, and accountability.

5. Consumer Well-being: Implications of Generative AI on individual wellbeing, including mental health,

interpersonal relationships, trust in institutions, and concerns about existential risk.

6. AI technology for a better customer experience

a. The role of firms in delivering AI-powered transformative experiences

b. The use of AI technology in healthcare, education and financial services

c. Unintended negative effects of AI on customer experience

 

Deliverable

Each group will make a brief presentation (30 minutes) on the last day of class and submit the PowerPoint

presentation as your report.

Consumer Behavior Study

• Start your project by choosing a specific product or service category.

• Conduct a brief secondary research on the product or service including market size and market structure

(number of firms, share of market, sales volume, etc.) and describe market segments and market trends.

• Conduct a primary research (survey) and use any or all of the techniques covered in the class (STP,

positioning, conjoint) to understand consumer choice or perception.

• Pick one or more of the brands and offer strategic recommendations for each including positioning,

differential advantage, innovation, targeting, marketing mix, etc. based on your analysis and discussion of

consumer behavior, assuming that people you talked to represent a market segment.

Resources

https://aws.amazon.com/what-is/generative-ai/

https://news.mit.edu/2023/explained-generative-ai-1109

https://www.techtarget.com/searchenterpriseai/definition/generative-AI

https://youtu.be/rwF-X5STYks?si=n0KYKVzo7yWq1KWA