You are a recently hired staff at CB Innovate, owned by an Australian entrepreneur, Chris Mason
The purposes of this assessment are to test your knowledge of key consumer behaviour concepts, and also to promote your group work skills. You will form groups of a maximum of 3 students/group. You are expected to use your notes from key lectures to help in constructing your report. You will need to utilise a range of sources (academic journal articles - expected minimum
of 5 journal articles, newspaper, and business periodicals) to provide a sufficiently detailed report.
The brief
You are a recently hired staff at CB Innovate, owned by an Australian entrepreneur, Chris Mason. The corporate mission of CB Innovate is to promote well-being of Australian families. The company aims to grow by either inventing new products/services or introducing new products/services from overseas into the Australian market. As a newly hired graduate, your role is to develop a new product/service concept (be creative) or find a new product/service from overseas that has not been introduced into the Australian market. You will need to use your knowledge in consumer behaviour, especially in diffusion/adoption of innovation, reference groups, family and social class to market this new product/service. Although there is a growing demand for this new product/service, it has become clear that the company needs more knowledge of consumer behaviour. In fact, Chris has asked you to provide a detailed report covering the following questions.
What is the core concept of a new product/service? What type of innovation is it? Evaluate the product/service features that influence the adoption/diffusion. (Look into the diffusion/adoption of innovation).
How does the new product/service promote the well-being of Australian families? Are there any different consumer groups (target customers) that it can focus on? Why do you think the selected target customers are appropriate for this new product/service? (Look into the family and social class).
What recommendations would you make to Chris in terms of reaching potential customers? Can this new product/service utilise the growth in social media as a communication/promotion channel? Or will it be better to use other reference groups to promote the word-of-mouth communication? Explain your reasons for a chosen strategy. (Look into reference groups).

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