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Unit outline_

MKTG6104: Psychology of Marketing Decisions

Semester 2, 2024 [Normal day] - Camperdown/Darlington, Sydney

Given limitations in their ability to process information, humans adopt a variety of heuristics or "rules of thumb" when making judgements or decisions regarding business problems, product choice and consumption options, and in their personal lives. The evolution of these heuristics over time has ensured that they produce generally good outcomes across a variety of contexts. However, they also lead to systematic, and sometimes substantial, errors in certain cases. This unit of study helps students understand biases in human decision making, and how they influence business and consumer decisions in everyday life. For each decision domain, the psychological heuristic is contrasted with the logical rule for producing an optimal outcome.

Unit details and rules

Academic unit Marketing
Credit points 6
Prerequisites
? 
MKTG5001
Corequisites
? 
None
Prohibitions
? 
MKTG5002
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Jeffrey Lim, jeffrey.lim@sydney.edu.au
Lecturer(s) Jeffrey Lim, jeffrey.lim@sydney.edu.au
The census date for this unit availability is 2 September 2024
Type Description Weight Due Length
Participation Class participation
Participation
20% Multiple weeks Subject to task
Outcomes assessed: LO1 LO2 LO3 LO4
Online task Early feedback task
Early feedback task
10% Week 03
Due date: 16 Aug 2024 at 23:59

Closing date: 16 Aug 2024
15 minutes
Outcomes assessed: LO1
Supervised test
? 
In-semester test
Written test
25% Week 11
Due date: 19 Oct 2024 at 11:40
1 hour
Outcomes assessed: LO1 LO2 LO4
Assignment group assignment Group project - poster
Poster
15% Week 13
Due date: 01 Nov 2024 at 23:59

Closing date: 08 Nov 2024
1-page + 500 words synopsis
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment group assignment Group project - report
Report
30% Week 13
Due date: 01 Nov 2024 at 23:59

Closing date: 08 Nov 2024
2500 words
Outcomes assessed: LO1 LO2 LO3 LO4
group assignment = group assignment ?

Assessment summary

  • Early feedback task (10%): This individual component consists of 15 multiple-choice questions. It is designed to assess your initial understanding and provide feedback to your progress based on the unit materials covered in week 1 and 2.

  • Class participation (20%): A key purpose of our class discussions is to build your progressive understanding and foster learning & interaction with one another by expanding on the themes covered in the assigned readings and beyond. Students will be required to make constructive contributions and engage in various in-class and outside-class activities.

  • In-semester test (25%): This individual component is designed to test your broad understanding of the unit materials covered until week 9.

  • Group project (45%): In this unit, we learn about how people’s judgment and decision-making are subjected to many influences. Through this group component, we will gain a deeper understanding by unpacking and examining e.g. what, when, why & how decision influences are triggered in real-life. Each group will also showcase their key insights in the form of a poster in their respective workshop in week 13.

Further details for each component highlighted above can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Distinction

75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Credit

65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Pass

50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

WK Topic Learning activity Learning outcomes
Week 01 1. Unit overview 2. Introduction to decision-making Lecture and tutorial (3 hr) LO1
Week 02 Common decision biases/traps Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 03 Heuristics Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 04 Bounded awareness Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 05 Framing matters Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 06 Commitment and consistency Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 07 Motivational and emotional influences Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 08 Experience and group influences Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 09 Fairness and ethics in decision-making Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 10 Revision Lecture and tutorial (3 hr) LO1 LO2 LO3
Week 11 In-semester test; Project discussion/consultation Lecture and tutorial (3 hr) LO1 LO2 LO4
Week 12 Closing insights - some lessons we can benefit from Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4
Week 13 Project showcase Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4

Attendance and class requirements

Lecture recording: All lectures and seminars are recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed through [Reading List], accessible via Canvas.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. critically evaluate theories, concepts and arguments in marketing, psychology and economics and apply such theories and evaluations to related decisions
  • LO2. analyse the impact of psychological factors on decisions and then evaluate strategies or tools to counteract such influences
  • LO3. research and analyse decisions made by you and others in real world contexts, and use these insights to communicate how such decisions were impacted by unit theories and concepts
  • LO4. evaluate and use information effectively, demonstrating a capacity to integrate and synthesise relevant information in a coherent manner.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

An early feedback task has been incorporated to provide feedback on initial understanding of the unit materials. The final exam has been removed and adjustments made to the other assessments' weight to commensurate with their workload.

Students without the pre-requisite can apply to enrol in this unit by enrolment exemption request (EER).

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.