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MARKETING INTELLIGENCE: Understanding the buyer behaviour along with the purchase decision making process

   

Added on  2020-01-28

20 Pages4790 Words243 Views
MARKETING INTELLIGENCESTUDENT NAME:STUDENT ID:SUBJECT NAME:PROFESSOR NAME:1

Table of contentsIntroduction......................................................................................................................................3Task 1: Understanding of the buyer behaviour along with the purchase decision making process31.1 The stages of making a purchase decision.................................................................................31.2 Consumer buying behaviour theories........................................................................................41.3 Explanation of the factors affecting buyer behaviour................................................................51.4 Evaluation of the relationship in between the corporate image, brand loyalty and repeatpurchasing........................................................................................................................................6Task 2: Use of different market research techniques for Coca cola................................................72.1 Evaluation of the various market research techniques..............................................................72.2 Usage of the secondary data in order to achieve the market research objectives......................82.3 Assessment of the validity and reliability of the market research findings...............................82.4 Preparation of the market research plan....................................................................................8Task 3: Assessment of the market size and the future market demand.........................................103.1 Assessment of the market size and trend of Coca-Cola..........................................................103.2 Competitor analysis for Coca-Cola.........................................................................................103.3 Opportunities and threats for Coca Cola for a new product or service...................................11Task 4: Ability to measure the customer satisfaction....................................................................114.1 Evaluation of the customer response assessment technique....................................................114.2 Customer satisfaction survey...................................................................................................114.3 Review of the survey...............................................................................................................18Conclusion.....................................................................................................................................18Reference list.................................................................................................................................192

IntroductionMarketing intelligence is the proper set of information that is relevant to the particularorganisation’s market. It also gathers and analysed those set of information in order to properdecision making purpose. According to Fanet al. (2015), it is mainly considered to be theprocess which gathers the set of proper information from the organisation's externalenvironment. In order to conduct the study, Coca-Cola has been chosen. The main aim of thisstudy is to understand the consumer buying behaviour along with the proper purchase decisionmaking process. Along with that, it also evaluates the use of different market research techniquesthat are used by Coca-Cola. In addition to that, the study also assesses the market size along withthe future trend of Coca-Cola Company. Task 1: Understanding of the buyer behaviour along with the purchasedecision-making process 1.1 The stages of making a purchase decisionThe purchase making decision mainly consists of five different stages. These are describedbelow:Figure: Process of making purchase decision3

(Source: Cacciolatti and Fearne, 2013, p.21)Recognition of needCacciolatti and Fearne (2013) stated that the purchase making decision takes place when there isthe need of a particular thing. The customers need to purchase something whenever they reallyneed to have that thing. This is considered to be the first phase of the decision-making process.Search for the informationSometimes the customers are not able to find out the proper information regarding the productthat they want to purchase. Sometimes after buying the products, they get unsatisfied. Therefore,they mainly use the search engines in order to search for the proper information of the particularproduct that they want to have.Evaluation of the substitutesAfter going through a successful search process, the customers have an ample amount of choiceof their products (Kanwal et al.2017). Then they can easily compare the same products from thedifferent organisations in terms of price and quality. Form that evaluation they can easily find thealternative products.Purchase decisionAfter evaluating the substitute products, the customers are now able to select a product from thelist of their alternatives. The decision needs to be based on the proper evaluation of thealternative products.Purchase evaluationAfter using the particular product, the customers came to know about the actual product quality.Albayraket al. (2013) said that if the quality does not satisfy the customers, then they shift fromthat organisation to the other organisation.4

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