CRMG302, Course Outline

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School
Toronto Metropolitan University **We aren't endorsed by this school
Course
RMG 302
Subject
Marketing
Date
Oct 18, 2023
Pages
7
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2023-07-12, 8 : 28 PM CRMG302, Course Outline Page 1 of 7 https://de.torontomu.ca/de_courses/templates/m/ ? c=D58E2F077670F4DE9CD7963C857F2534&m=1&p=100025 Assignment Details Assignment #1 - Consumer behaviour project (Third-party electric vehicle charging stations) % of final grade: 30 % Week assigned: Week #2 Week due: Week #11 Description See Assignment Detail in the document available for download in D2L. Assignment 1 is described below: THIRD-PARTY ELECTRIC VEHICLE CHARGING STATIONS This project concerns itself with a particular kind of vending machine, a charger for electric vehicles. When people think of vending machines, they usually think of automated dispensers of items such as cigarettes, snacks and beverages. Most people wouldn't associate gas pumps with vending machines, but they are in fact a form of vending machine because they dispense gas upon payment in an automated way. And now a variety of vendors, ranging from car companies to independent operators, have introduced or are starting to provide charging stations for owners of electric vehicles in a manner similar to the pumping of gas. Now the pumping is of electrons. This assignment asks you to think about how consumers behave when it comes to the use of charging stations for their electric vehicles [EVs]. To date, we have learned about a variety of consumer behaviour techniques and best practices. Taking into account the previous modules that we have covered in this course, you are to explore key aspects of consumer behaviour and think about how you would use your insights to launch a single - just one - charging station. Upon proof of concept - if the idea works out, it is your intent to launch the concept nationally and internationally but your project focuses now only on a single location that you can specify. You can decide where the single charging station is to go. Perhaps the charging station could go in downtown Toronto, at the airport, or in a central location for a specific postal code where there are many EV owners, etc. You can go beyond the current [pun intended!] perception of charging stations to much more (the next generation charging station). Consider differentiation from competitors that also offer such services,
2023-07-12, 8 : 28 PM CRMG302, Course Outline Page 2 of 7 https://de.torontomu.ca/de_courses/templates/m/ ? c=D58E2F077670F4DE9CD7963C857F2534&m=1&p=100025 including recent start-ups. Reflect on positioning and branding. This submission should be no more than twenty (20) pages long, double spaced with 1 inch margins excluding the cover page, Table of Contents, and Appendices. (The paper should not be more than 25 pages long in total). Use Arial 12 point font. Organize the submission as follows. USE THIS FORMAT EXACTLY AS IT APPEARS HERE BECAUSE MARKS WILL BE PROVIDED FOR EACH SECTION OF THIS PAPER AS DESCRIBED BELOW: COVER PAGE TABLE OF CONTENTS EXECUTIVE SUMMARY Introduce the project, state the objectives to be accomplished by the end of the paper and what you have established from the work you have done. Direct your comments here and throughout to an academic audience and an hypothetical senior executive with a charging station company with whom you work who wants to learn what you have explored in this assignment. SECTION 1 - Market and Consumer Assessment A) ELECTRIC VEHICLES For the purposes of this project, an electric vehicle [EV] is a 100% electric consumer vehicle, such as a Tesla. i.e. An EV is not a hybrid electric car that uses both an internal gas combustion engine as well as an electric one. And for the purposes of this project, we are not focusing on trucks or vehicles owned by organizations rather than consumers. To confirm, an EV for our purposes only uses electricity. So, when it comes to EV's, think about and discuss the main target audiences for electric vehicles. Do secondary research to understand who the buyer is for electric vehicles in North America based on demography and psychographics. Present your assessment here in one page or less. B) CONSUMER MOTIVATIONS Why do consumers in the main segments identified in the preceding section buy or lease electric vehicles? Reflect on the Maslow need hierarchy and explore consumer motivations at each level of need. For example, if consumers are motivated by protecting the environment, where would this motivation be reflected in a specific component of the Maslow need hierarchy? Are there other motivations for consumers when it comes to the purchase or lease of EV's? For example, are consumers concerned about the prices of gasoline and the cost advantages of electricity? Do they consider the lifetime ownership cost of an electric vehicle compared to a gasoline-powered vehicle of equivalent size? Go on to discuss whether this purchase decision is an utilitarian or an hedonic purchase or lease? That is, reflect on the Maslow need hierarchy and consumer motivation more generally, and then discuss consumer needs and motivations when it comes to the purchase of an EV. Prioritize consumer needs with the most important needs listed first. Don't discuss charging stations as that discussion that comes next.
2023-07-12, 8 : 28 PM CRMG302, Course Outline Page 3 of 7 https://de.torontomu.ca/de_courses/templates/m/ ? c=D58E2F077670F4DE9CD7963C857F2534&m=1&p=100025 C) CHARGING STATIONS There are approximately 7,000 charging stations in Canada with about 20,000 connectors/charging outlets - i.e. 7000 charging stations can charge about 20,000 EV's simultaneously [Source: National Inventory of Canadian Charging Infrastructure report]. In the USA, there are about 49,000 charging stations with over 114,000 connectors [Source: US Department of Energy's Alternative Fuels Data Center]. There are two main types of charging stations: Level 2 AC chargers, and Level 3 DC chargers. The main difference between the two is the voltage level and the associated current flow, and hence the speed with which the vehicle is charged. Level 2 chargers are up to 240 V while Level 3 chargers may be double that. This section of your report should discuss the number of charging stations from two perspectives: i. The first part of this review should consider the number of charging stations per capita. That is, using the data previously provided to you [above] how many charging stations are there for every 1000 Americans, and 1000 Canadians? What does this suggest about the number of charging stations in Canada? Is the Canadian market over or under-developed based on these data? ii. The second part of this review should consider the number of charging stations per EV. How many electric vehicles are there in Canada and the USA right now? [Gather data from secondary sources to understand this]. Then, based on this assessment, calculate whether the Canadian market is over or under-developed based on the number of EV's. That is, for every 1000 EV's in Canada, how many charging stations are there and how does this compare with the number of charging stations per 1000 EV's in the USA? D) PRODUCT If a product [good and/or service] is an answer to a question or questions in the minds of consumers, what is the question that consumers want to have answered when they use an electric charging station? That is, if an electric charging station is the solution, what is the question it answers? Is it as simple as filling up the vehicle's battery with electricity or is it more than this? That is, is the product simply the purchase of electrons? Think about the problem at three levels: the core benefit that consumers seek, the actual product comprising the tangible elements that consumers experience with their sight, touch, and hearing, and the augmented product comprising the intangibles associated with the charging station, the owner of the charging station, and the perceived compatibility with the owner's vehicle. Based on your assessment, what is the foremost question in the minds of consumers when selecting a third-party charging station outlet [like a gas station but for electric cars]? E) PERSONALITY Consumers express aspects of their personalities when they buy, whatever they buy. This section of your paper should focus on personality as it applies to the electric vehicle third-party charging station selection decision. That is, don't concern yourself with the purchase and installation of a charging station at home but instead focus on a charging station owned and operated by a third party. Explore issues such as whether or not the purchase decision is influenced by the id, ego or superego. Are
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