Combining Theory and Best Business Practices in the Consumer Behavior Elective
Master in Management / 20 February, 2020
  • Share

  • 2174

  • 0

  • Print
Master in Management Class of 2020
Foeke has a Masters in Management from Frankfurt School and obtained his bachelor’s degree in European Studies in the Netherlands. He personalised his masters by taking elective specialist modules in digital business and marketing and works for the world’s leading IT research and advisory firm as an Account Manager.

To Author's Page

More Blog Posts
Studying & working in Frankfurt: the 2-year journey of a Dutch student
Back to Frankfurt School – Same place, different story
Hands-on Startup Summer Workshop at FS

In August 2018, I took up a new challenge starting with the Master in Management offered by Frankfurt School of Finance and Management. Prior, I studied European Studies in the Netherlands and worked 1.5 years for a French SME. During my bachelor I have developed a strong interest for languages and business development. The Master in Management including its 3-day model and Frankfurt School’s network, has equipped me with everything I need in order to succeed as a Business Developer in the international market.

Personalize your studies

Digital technologies, digital transformation and digital innovation are topics which are (or should be) on the agenda of every C-level executive. The digital business concentration has given me the knowledge fundamentals in order to work with companies as a future business developer professional with their digitalization challenges. The Consumer Behavior elective helps me to personalize my master by providing me with consumer insights and best-practices which I can leverage in my future job, in particular during future costumer interactions. This was for me my motivation to select Consumer Behavior as an elective in my last semester.

Driving business starts with understanding your potential customers

During the class  we discuss topics such as sensory marketing and consumer decision-making. How do consumers acquire, use and remember knowledge? By asking this, think about the Mere Exposure Effect. What is the role of individual- and cultural differences? The question is: what implications does this have for businesses? How can I as a future marketer or business developer influence the consumer decision-making process?

Best business practices: the role of AI in a consumer context

Artificial Intelligence is everywhere around us and many more companies leverage the opportunities AI has to offer. But how do firms make use of AI in a consumer context? We worked during this elective on a group project where we looked at how firms facilitate consumers and AI interactions. The group presentations at the end of the module gave all participants a good overview of what the opportunities and limitations of AI are. A concrete example: Alipay gives consumers in China the opportunity to pay by means of facial recognition. Ask yourself, what are the advantages? What is the role of data privacy and data protection here?

Company visit at Vizeum Deutschland

As students of the Consumer Behavior elective, we had the opportunity to visit Vizeum Deutschland– a well-established media agency working together with leading global brands. How does a media agency leverage knowledge out of the field of Consumer Behavior? After a company introduction, we got our ‘hands dirty’ during an interactive workshop where we worked with the “Motivations To Connect Model” created by one of Vizeum’s marketing experts. What motivations to connect do we associate with leading brands worldwide? We finished this company visit with a small tour through the company building and we had the opportunity to discuss with Vizeum’s experts and learn more about career opportunities Vizeum has to offer.

Key takeaways

The Consumer Behavior elective and the Vizeum Deutschland company visit have provided me with key takeaways which I can leverage in my future career:

  • Knowledge of key behavioral and psychological concepts such as the Mere Exposure Effect, the role of attention and perception and how to leverage these concepts in customer journeys;
  • Understanding of how companies facilitate AI and consumers interactions;
  • Ability to work with the “Motivations To Connect Model” and herewith analyse consumers’ brand associations and motivations.