Individual Reflection on Luxury Consumption Patterns and Marketing Theory

Task

This is component to be written by yourselves and not as part of your group. The word count for this component is 2000 words (excluding references).

Consider and critically reflect on your own consumption patterns over the last 12 months in relation to you what you consider to be a luxury product of your choice supported by some appropriate marketing theory you have encountered in this module. It doesn’t have to be a luxury brand, but something that you feel is a luxury purchase. Be sure to have clear concluding remarks.

Critically, review your self-reflection. The purpose of this task is to be as introspective as possible. Introspection is deep self-reflection, it is looking into yourself, into your own life and the world you inhabit. Good self-reflection is critical, so please be honest and try to explain using relevant theory why this might be the case. Some of your consumption patterns may be impacted by impulse purchasing, influenced by reference groups, or fit with you ideal or public self-concept for example. Therefore, this assessment is selfreflective, it is about you! It is expected that your reflection reviews how your personal practice is relevant to marketers and decision-makers. Real-world consumption is best understood by examining your own self. If you really want to understand how to market to others, it is imperative to understand your own
consumption first. This insight will also open your thinking to the complexity of developing strategy and tactical creative content in marketing planning.

The marks for this assignment will be applied in weightings as described in the table below. This should be read in conjunction with the undergraduate grade descriptors in your programme handbook.

The following learning outcomes are assessed in this assignment (taken from the module specification:

1. Critically interpret the nature, development and relevance of marketing theory and relate them to actual examples. 

2. Understand the key stages in developing, implementation and controlling marketing plans (and strategic fit) given the constraints and opportunities of the external environment and organisational resources and capabilities. As well as apply this knowledge in developing a marketing plan based on real information. 

3. Reflecting on practice and experience gained through applying the real marketing planning project and working as a part of a group in a competitive environment.

4. Demonstrate an ability to research, analyse and evaluate a range of sources to address key issues in Marketing and marketing planning 

Notes for guidance

The following marking criteria illustrates how marks will be applied to your work. This must be read in conjunction to the marking grid which illustrates where marks will be applied to your work.

This is creative, excellent and exceptional work, with all parts of near or absolute professional standard. Clear evidence of wide understanding and reading, linked to an ability to apply the concepts to the campaigns.

1. Evidence of creativity and originality in style and independent thought

2. The ability to provide some original insights through practical application of theoretic concepts

3. Evidence of wide and original reading

4. Critical arguments contained in the literature

5. The ability to clarify complex terms and construct logical trains of thought in a succinct and accessible manner

Work in this category ranges between good and very good. Clear evidence of effort as well as understanding of the material covered in lectures, illustrating further research and reading which informed a well-presented session. Most concepts clearly understood and appropriately applied. Very few errors. Some indication of original thinking and creativity.

1. The ability to interrelate concepts and ideas

2. The ability to relate theory to practice

3. Show evidence of research skills

4. Demonstrate an accurate and comprehensive coverage of course materials

5. Show independence in planning and carrying out work

Middle of the scale. No real surprises pleasant or otherwise. Regular attendance, attention and understanding/recall of materials covered in lectures and seminars, supported by some private study and appropriate questioning, should result in work of this standard.

1. Demonstrate technical competence in academic conventions

2. Attempts made to relate and balance theory and practice

3. Show some development of arguments

4. Show some accuracy in research methods and content

5. Demonstrate some evidence of independent learning

Basic concepts and ideas used up to a point, but largely descriptive with little or no application to demonstrate full understanding. Work sometimes unclear and containing errors of spelling and/or grammar. Weak or limited ability to use tools and techniques appropriately or fully. Limited evidence of any real reading or research into the topic.

1. Main arguments covered but in an uncritical manner

2. Acceptance of popular ideas or rhetoric with limited justification

3. Limited ability to balance or relate theory and practice

4. Arguments presented but not developed

5. Guidance and help needed in planning and carrying out work

Disappointing, as work at this standard suggests a lack of understanding or application, and/or rushed work, and/or poorly checked. Work may be untidy, with many errors of spelling and grammar; taught concepts may be incorrectly, partially, or inappropriately used, and some tools
and processes may be left out. May not address all of the areas in the marking criteria.

1. Insufficient material

2. Irrelevant material

3. Lack of criticality

4. Little/no reference to relevant theory

5. Poor structure

6. Poor presentation

7. Too brief (short)

Assessment Submission (for student information)

Submission is the approved method for your programme of study. You must hand in your assessed Assignment(s), for all modules that you are taking during the 2021/22 Academic Year using the Canvas system. Submission of a printed copy is not allowed. You should submit via the Assignments menu item on the relevant module Canvas site.

Assignments must be submitted by the date and time stipulated. Deadlines will be strictly adhered to. Students submitting late, and who do not have mitigating circumstances approved by the Mitigating Circumstances Panel, will be subject to penalties for late submission specified by the University. Please note that Saturday and Sunday are treated as “working days” for the purposes of the late submission policy.