Consumer Behaviour and Financial Needs

Curriculum Guideline

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Course
FINC 2410
Discontinued
No
Course Code
FINC 2410
Descriptive
Consumer Behaviour and Financial Needs
Department
Finance
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201330
PLAR
No
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Contact Hours
Lecture: 2 Hours Seminar: 2 Hours Total: 4 Hours
Learning Activities

Material will be presented in a lecture/discussion format.

Course Description
This course will cover the fundamentals of consumer behaviour that led to market segmentation, the resulting consumption patterns and derived financial needs that are the basis for the formulation of standard solution sets. These standard solution sets will be the primary source of advice available to the contact professional to assist non-affluent clientele with their financial product and service decisions.
Course Content

1.       Basic principles of consumer marketing, consumer behaviour fundamentals, extrinsic variables of behaviour, and intrinsic variables of behaviour.

2.       The purchase decision-making process.

3.       Market segmentation fundamentals.

4.       Segmenting the consumer banking market

5.       Financial offerings as standard solution sets.

6.       Low-income consumers.

7.       Average-income consumers.

8.       Financial healthy consumers.

9.       Well-off consumers.

10.    Rich and exceptionally rich consumers.

Learning Outcomes

The student will be able to:

  1. demonstrate understanding of the generic internal and external factors that influence the purchase decision;
  2. describe different market segments, the criteria used to define them and the consumption patterns associated with them.  In addition, the student must explain the expectation, motivations and generic needs of each segment;
  3. describe standard solution sets are derived and what they imply for the client.  Given a client's financial situation, the professional is able to select the appropriate standard solution, explain how it has been developed and how it fits the needs of the market segment to which the client belongs;
  4. apply standard solutions to all standard market segments and master the skills necessary to match products and services to client's needs.  In addition, the student is able to assess when to refer the client to a higher-level advisor.
Means of Assessment

Term Tests (2)                                                                            40%

Written Submissions          

  (Projects/Cases/Reports/Assignments)                                         20%

Preparation and Participation                                                         10%

Final Exam                                                                                   30%

                                                                                                  100%

Textbook Materials

Textbooks and Materials to be Purchased by Students

 

Di Maulo, Vincent.  Consumer Behaviour and Financial Needs.  Montreal:  The Institute of Canadian Bankers, 1993.

Prerequisites

FINC 2210 and FINC 2300