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Introduction 4 Task 15 - Purchase Decision Making Process

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Added on  2020-01-16

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Marketing Intelligence Contents Introduction 4 Task 15 Describe the main stages of the purchase decision making process.5 Explain the factors that affect buyer behavior.10 Evaluate the relationship between brand loyalties, corporate image and repeat purchasing. 15 4.2 Design and complete a customer satisfaction survey15 4.1 Evaluate techniques of assessing customer response17 4.3 Review the success of a completed survey 18 Task 319 3.1 Carry out an assessment of market size trends within a selected market of your choice. 20 3.3 Using the selected organization in task 3.2,

Introduction 4 Task 15 - Purchase Decision Making Process

   Added on 2020-01-16

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Introduction 4 Task 15 - Purchase Decision Making Process_1
ContentsIntroduction .....................................................................................................................................4Task 1...............................................................................................................................................5Describe the main stages of the purchase decision making process............................................5Explain the factors that affect buyer behavior..........................................................................10Evaluate the relationship between brand loyalties, corporate image and repeat purchasing.....11Task 2.............................................................................................................................................112.2 Provide evidence of secondary sources of data relevant to achieve marketing researchobjectives for M & S. ...............................................................................................................132.3 Assess the validity and reliability of market research findings in relation to M & S..........142.4 Prepare a marketing research plan to obtain information in a given situation (the extent ofcustomer satisfaction at M & S)................................................................................................154.2 Design and complete a customer satisfaction survey..........................................................154.1 Evaluate techniques of assessing customer response..........................................................174.3 Review the success of a completed survey..........................................................................18Task 3.............................................................................................................................................193.1 Carry out an assessment of market size trends within a selected market of your choice. . .193.2 Describe a plan and carry out a competitor analysis for one of the following organizations....................................................................................................................................................203.3 Using the selected organization in task 3.2, evaluate the opportunities and threats for theproduct or service chosen in task 3.2.........................................................................................21
Introduction 4 Task 15 - Purchase Decision Making Process_2
Conclusion ....................................................................................................................................23References .....................................................................................................................................24
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Introduction The Marketing Intelligence is the information about the company’s markets. The markets of thecompany are analyzed and excelled in this. The company taken for the report is the Marks andSpencer. The report includes the decision making behavior of the customer related to thepurchase and the theories of the buyer behavior in the market. The report also discuss about thedifferent factors that affect the customers behavior. It also includes the brand image and itsinformation about the company. The report also includes the market research on the basis of thecustomer satisfaction and the different techniques of the company to attract the customers.Further report talks about the market size and the trends and the competitor analysis of thecompany and the threats and opportunities of the company. The report will provide theunderstanding of the markets and the related factors of the Marks and Spencer.
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Task 1Describe the main stages of the purchase decision making process.Decision making process in relation to purchase is shown below-Step 1- Problem recognitionThe first step is to recognize the problems in the market that arises by the wants and needs of thecustomers. Consumer feel some missing aspects in their life which they fix by the way ofrecognizing the problem.Step 2- Process of searchThe next step is the conducting search for the purpose of finding the best suitable product thatcan satisfy the need of the consumers in the market. This search can be made via internet orvia interacting with the human beings to know the product (Yeung, et.al, 2016).Step 3- Alternative availableThe next step is evaluating and checking the alternative available in the market in relation to thesame product that is required by the consumer. The alternative available may have samequalities or the better one for satisfying the needs of the consumer in terms of price, quantity,quality or any other aspects.Step 4-Selection After all the research the next step is to select the most suitable product by the consumer thatwould satisfy the need of them. It must be selected in a rational manner with all the aspectsthat are required in the product.Step-5- Evaluation of decisions After the purchase of the product the last step is to evaluate the product choice. The product thatis selected is being evaluated in a proper manner to judge whether the product that is selectedhas satisfied the wants of the customers (Yeung, et.al, 2016).
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While following the needs and the wants of the customers Marks and Spencer’s may be able tocreate a criteria through which company would be able to make correct market strategy toincrease its sales by understanding the reasons of the market situation as well as the mentalityof the customers (Yeung, et.al, 2016).1.2 Explain theories of buyer behavior in terms of individuals andmarkets.Presentation
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