Consumer Behavior2018-10-29T09:46:07+00:00

Project Description

This Call for challenges has expired




Consumer Behavior

Frankfurt School of Finance & Management




Consumer Behavior

Frankfurt School of Finance & Management

Summary

Marketing begins and ends with consumers – from determining consumers’ needs to providing consumer satisfaction. As such, a clear understanding of consumers’ buying behavior is critical in successfully managing the marketing function.

This course introduces students to the study of consumer behavior. The role of research and the tools of scientific inquiry are emphasized in order to illuminate the underlying behavioral and psychological constructs. Depth of understanding of these underlying constructs is a key to success in today’s complex marketplace. Product lifecycles are shorter, market segments are smaller and more dispersed, and the competition is more intense than ever before making the study of consumer behavior critical.

Description

The Frankfurt School of Finance & Management was founded 1957 as Bankakademie (Bank Academy), initially as a training institute for the employees of German banks. These continuing education programs remained the main focus for the first three decades. In the 1990s the pace of development accelerated. In 1989 the Bankakademie created its own publishing house, followed one year later by the foundation of the Hochschule für Bankwirtschaft (HfB), an academic institution offering degree programs. A consulting arm, International Advisory Services, was added in the 1990s as well, as was a separate department for Executive Education and tailor-made training programs for companies. Efiport, a subsidiary for e-learning and IT solutions for higher education, was created in 2001.

In 2004 HfB officially became a research institution with the rank of a university and was granted the right to award doctoral degrees. In 2007 HfB and Bankakademie were merged under the new name Frankfurt School of Finance & Management.

Objectives

The objective is to develop in-depth, scientific understanding of customers’ motivations, information processing abilities, and decision-making strategies.

Solutions

In the past participants in this course worked with companies to understand their segments of consumers and develop products and communication strategies speaking to each segment. They have designed logos and marketing material that would best capture consumer attention and also communicate the value of the product. The students can work with a brand to increase awareness of the brand as well as to develop the image of the brand.

Methods

The role of scientific inquiry is emphasized. Students may conduct observations, interviews, focus groups, surveys, and experiments as needed.

Skills

CommunicationCreativityCritical thinking / problem-solving

Insights

 

DEGREE
Master
WORK EXPERIENCES
0 years
STUDENT AGE
25-34 years old
COUNTRY OF ORIGIN
GERMANY

Details

Challenge submission deadline:
15 November 2017

Solving the challenges start/end:
29 January 2018 – 24 March 2018

Course duration:
45 days

No. of challenges called:
1 challenge

No. of students:
15 students

Team size:
5 students / team

Solution output language:
English

Summary

Marketing begins and ends with consumers – from determining consumers’ needs to providing consumer satisfaction. As such, a clear understanding of consumers’ buying behavior is critical in successfully managing the marketing function.

This course introduces students to the study of consumer behavior. The role of research and the tools of scientific inquiry are emphasized in order to illuminate the underlying behavioral and psychological constructs. Depth of understanding of these underlying constructs is a key to success in today’s complex marketplace. Product lifecycles are shorter, market segments are smaller and more dispersed, and the competition is more intense than ever before making the study of consumer behavior critical.

Description

The Frankfurt School of Finance & Management was founded 1957 as Bankakademie (Bank Academy), initially as a training institute for the employees of German banks. These continuing education programs remained the main focus for the first three decades. In the 1990s the pace of development accelerated. In 1989 the Bankakademie created its own publishing house, followed one year later by the foundation of the Hochschule für Bankwirtschaft (HfB), an academic institution offering degree programs. A consulting arm, International Advisory Services, was added in the 1990s as well, as was a separate department for Executive Education and tailor-made training programs for companies. Efiport, a subsidiary for e-learning and IT solutions for higher education, was created in 2001.

In 2004 HfB officially became a research institution with the rank of a university and was granted the right to award doctoral degrees. In 2007 HfB and Bankakademie were merged under the new name Frankfurt School of Finance & Management.

Objectives

The objective is to develop in-depth, scientific understanding of customers’ motivations, information processing abilities, and decision-making strategies.

Solutions

In the past participants in this course worked with companies to understand their segments of consumers and develop products and communication strategies speaking to each segment. They have designed logos and marketing material that would best capture consumer attention and also communicate the value of the product. The students can work with a brand to increase awareness of the brand as well as to develop the image of the brand.

Methods

The role of scientific inquiry is emphasized. Students may conduct observations, interviews, focus groups, surveys, and experiments as needed.

Skills

CommunicationCreativityCritical thinking / problem-solving

Insights

 

Details

Challenge submission deadline:
15 November 2017

Solving the challenges start/end:
29 January 2018 – 24 March 2018

Course duration:
45

No. of challenges called:
1 challenge challenge

No. of students:
15

Team size:
5 students / team

Solution output language:
English

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This student learning experience is…

The Frankfurt School of Finance & Management was founded 1957 as Bankakademie (Bank Academy), initially as a training institute for the employees of German banks. These continuing education programs remained the main focus for the first three decades. In the 1990s the pace of development accelerated. In 1989 the Bankakademie created its own publishing house, followed one year later by the foundation of the Hochschule für Bankwirtschaft (HfB), an academic institution offering degree programs. A consulting arm, International Advisory Services, was added in the 1990s as well, as was a separate department for Executive Education and tailor-made training programs for companies. Efiport, …

1-2.000
students

GERMANY
Frankfurt am Main

This student learning experience is…

About Frankfurt School of Finance & Management

The Frankfurt School of Finance & Management was founded 1957 as Bankakademie (Bank Academy), initially as a training institute for the employees of German banks. These continuing education programs remained the main focus for the first three decades. In the 1990s the pace of development accelerated. In 1989 the Bankakademie created its own publishing house, followed one year later by the foundation of the Hochschule für Bankwirtschaft (HfB), an academic institution offering degree programs. A consulting arm, International Advisory Services, was added in the 1990s as well, as was a separate department for Executive Education and tailor-made training programs for companies. Efiport, …

1-2.000
students

GERMANY
Frankfurt am Main

Challenge Submission

Although your prime goal may be to source “innovative” solutions in form of reports, analysis, prototypes and MVPs, undoubtedly you will get in contact with a very diverse group of student and faculty talents from all over the world.

Instantly, you will become and serve as a partner in promoting solutions by offering invaluable rapid feedback to students that collaborate with you as problem solvers based on your real-world experience and deep expertise.

To be more specific, as a digital challenge sponsor you bring context, real insights and data of a particular area to the table. You clarify, frame, and pitch your challenges prior to exploring solutions with your student teams.

Your collaboration efforts, will help student teams become thought after problem solvers with applied skill sets that will lead to better solutions overall.

As a challenge sponsor you gain access to the platform and respective call for challenges by subscribing to TELANTO´s Academic Business Network.

Suggestions

Interested challenge sponsors should be:

  • Subject matter experts in the field they are applying for, assuring a smooth collaboration with the responsible faculty and student teams.
  • Committed to a collaboration over a period of 12 weeks.
  • Available to spend approx. 10h in total to collaborate with the student teams.

Next Steps

Challenge applicants will be presented to the responsible faculty member for challenge review and pre-selection. If your proposal fits the course syllabus you will be invited to discuss your challenge during a 30 minutes scoping conversation with the professor.

Collaboration Process

Ready to start?

Challenge submission deadline:
15 November 2017

Solving the challenges start/end:
29 January 2018 – 24 March 2018

Solution output:
Report

Frequently Asked Questions

What about confidentiality?

Your information around challenges, collaboration and outputs is kept strictly confidential. While we use your company information and most likely logo and/or trademarks to present you to the academic partners, no third-party, which is not directly involved in the collaboration will never be granted access to sensitive information. As part of the Terms of use, all students agree to the confidentiality clause, when they log in to the network for the first time. Some of our clients choose to address confidentiality in a separate document.

I need to have certainty about any Intellectual and Industrial Rights originating from a collaboration!

The standard Terms & Conditions as well as the Terms of Use foresee, that students cede their IP-rights in favour of the company, when the company contributes to the resolution of the challenges, in terms of providing non-publicly available information, research, analysis, etc. and contribute otherwise with internal resources. A full reading of the Terms & Conditions is made available here: https://telanto.com/telanto-terms-conditions/.

How does the engagement model and collaboration work?

Our role-based platform structures and standardises the process in a simple and intuitive manner with a number of key interaction points, such as the kick-off, mid-term touch points and final presentation. The figure below illustrates the process with the three key roles, being the Challenge Sponsor (CS), Professor and the Student.

Is there any academic supervision of the students working on my challenges?

All collaborations promoted on the Academic Business Network are part of curricular or academically supervised extracurricular activities. For the greater part of the collaborations the challenges are worked on as part of the academic program of a specific course in a bachelor, master or MBA degree, so students performance is in direct correlation to the achievement of course credits and grades.

What is the typical collaboration period with teams of students?

Average collaboration periods take 75 days from kick-off to final presentation. New intense formats with shorter periods are currently experimented with to understand the quality and validity of potential solution outputs.

How much of my time is required to make a collaboration successful?

Half an hour every five to ten days are the standard reports we get from our customers in the higher satisfaction percentiles. Most of the time is required in the preparation, alignment and initial collaboration phase of the challenges.

Do I need to be at the university at some point in time during the engagement?

Half an hour every five to ten days are the standard reports we get from our customers in the higher satisfaction percentiles. Most of the time is required in the preparation, alignment and initial collaboration phase of the challenges.

What is the unique value proposition of TELANTO compared to its competitors?

TELANTO is the sole service provider of a truly global network of universities and companies for university-industry collaboration. With its proprietary technology TELANTO provides novel processes for academia to manage industry relations and collaborations with ease and equally does so for companies with a need for more innovation and problem solving power in search for new ways to detect smart talents.

My company has already University Alliances, do I need TELANTO?

Traditional university alliances are focussed on research and/or short term hiring activities. While those have their certain rationale, TELANTO creates an unprecedented transparency for collaboration possibilities in a broad range of areas, degrees and geographies at any given time. Professionals, managers and leaders within organisations get the possibility to tap into teams of students around the world to start tackle their challenges within much shorter timeframes and practically without bureaucratic effort, than with traditional models.

What type of outcomes can I expect from students?

Most frequent outcomes of collaborations are:

  • Concepts, Analysis and qualitative research
  • Experimental results and scenario projections
  • Prototypes, clickable mockups, MVPs

All in the context of a given challenge, field of study and respective degree as well as experience of the students.

As part of every Call for Challenges from professors, you will be able to consult past and/or expected outcomes for the challenge sponsor to understand the fit of the collaboration opportunity to your challenges at hand.

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