logo

MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making

19 Pages6105 Words386 Views
   

Added on  2019-12-28

About This Document

MARKETING INTELLIGENCE TABLE OF CONTENT INTRODUCTION 3 1.1: Main stages of purchase decision making process for an individual consumer 3 1.2: Theories of buying behaviour in context to individuals and markets 4 1.3:Factors affecting buyer behaviour 4 1.4: Relationship between brand loyalty, corporate image and repeat purchase 5 M1 Branding strategies in Topshop 5 D1 Evaluation of strategies suggested for Topshop 5 2.1: Marketing Research Techniques 5 2.2:Sources Of Secondary Data to Achieve Marketing Research Objectives6 2.3:Validity and

MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making

   Added on 2019-12-28

ShareRelated Documents
MARKETINGINTELLIGENCE
MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making_1
TABLE OF CONTENTINTRODUCTION ...............................................................................................................................31.1: Main stages of purchase decision making process for an individual consumer.......................31.2: Theories of buying behaviour in context to individuals and markets.......................................41.3:Factors affecting buyer behaviour.............................................................................................41.4: Relationship between brand loyalty, corporate image and repeat purchase.............................5M1 Branding strategies in Topshop............................................................................................5D1 Evaluation of strategies suggested for Topshop....................................................................52.1: Marketing Research Techniques...............................................................................................52.2:Sources Of Secondary Data to Achieve Marketing Research Objectives.................................62.3:Validity and Reliability of Market Research Findings..............................................................72.4: Report on the new opportunity of Topshop and its Marketing Research Plan.........................7M2 Techniques used for Marketing Research.............................................................................9D2 Taking responsibilities for managing and organising activities............................................93.1: Size and trends for the fashion industry in UK.........................................................................93.2: Competitor analysis for Topshop............................................................................................103.3: Opportunities and threats for the new shoe product of Topshop in UK.................................11TASK 4...............................................................................................................................................124.1:Evaluation of two techniques of Topshop for assessing customers response..........................124.2: Customer satisfaction survey for Topshop's products and services........................................134.3: Review of Survey ..................................................................................................................17D3: Demonstration of creativity ..............................................................................................17REFERENCES...................................................................................................................................18
MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making_2
INTRODUCTION Marketing intelligence is an influential aspect of business strategies. It is important tooperate on the tools and guidelines of the market research. The report aims to evaluate theunderstanding of buying decision of consumers and different tools used to perform marketingresearch in order to develop marketing plans. The report is driven in context to Topshop fashionfirm which has been widely known for its unique marketing strategies (Apgar, 2013). A customersatisfaction survey has also been reviewed proposing the status of the company in the minds ofconsumers. TASK 11.1: Stages for purchase decision for individual personA consumer goes through different stages before making the decision of buying a product.These stages are as follows:Need to buy-An individual will always have a requirement of a reason which wouldstimulate him to buy a product and the reason would be his need to purchase. It acts as acatalyst which enhances their decision-making (Tollin and Schmidt, 2015). In addition tothis, customer perception also need to be determines so that benefits could be implementedfor them in successful manner. Searching the information- Once the need is determines then the search process will start.Information of desired product can be gathered from sources like friends, family,advertisements, sales people, newspapers, radios, own experience of using a brand. Further,feedback from the customers are also undertaken so that improvement in the businessperformances could be ensure effective results at workplace (Hakala, Lemmetyinen andKantola, 2013). Evaluating other alternatives- After gathering the information alternatives of the product areidentified. Consumer would want to choose the best option available in the market.Decision of purchase- After undertaking all the above process purchase decision is made butthe decision may vary and he may walk away from the decision. This is very crucial stage ashe may or may not buy the product (Trivedi, Patel and Savalia, 2015).Purchase- Once the decision ascertain, each person need to determine final purchasing ofproducts.Evaluation with post purchase- In the last stage is to evaluate the purchased product. They
MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making_3
will determine the loyalty of brand and whether the purchased product is satisfactory or not. 1.2: Theories of buying behaviour in context to individuals and marketsThere are different theories describing the customer's buying behaviour. Two of them are:Cultural Theory- Cultures such as values, beliefs, traditions, thinking etc affects theirbuying decision. These alter according to their occupation, society mindset, peergroup trends, family, income, status etc. Generally there are people who tend toinfluence the purchase decision (Ashurst, 2016). Like there is a girl who have a goodsense of fashion than all the other friends in the group will be influenced by herdecision and culture. Environmental buying behaviour Theory- Climatic conditions andenvironmentaffects the pattern and design of the product individuals would want to buy. Likewinter purchase will be different from that of summers. Also, environment of theplace affects the decision. One might go for options but when he is tiered all day hemay choose the first he gets (Penn, 2017). Like one might buy something different inorder to impress someone though he does not like it much.1.3:Factors affecting buyer behaviourConsumers buying behaviour is affected by many factors. Some of them are :1.Psychological Factors- These includes motivation factors which are the needs and goals ofconsumer which influence them to take purchase decision. Attitudes of consumers, theiremotional and mental state, beliefs, also impact the behaviour.2.Personal Factors- Age and life cycle of individual impacts the behaviour as choices ofteenagers will be different from that of adults. Choices will also differ with the occupationand social status. Middle class consumer are likely to buy average products whereas highclass customers will buy branded and expensive stuffs. Life style of the individual willdetermine the kind of trend they would want to peruse like a systematic lifestyle and afunky, open and travelling lifestyle will alter the choices.3.Cultural Factors- The religion, tradition, custom, race, geographic location etc tends toinfluence the buyers' behaviour. A Christianity follower will have a different perception andchoice from that of a Hindu follower. Western countries have different trends and Eastern
MARKETING INTRODUCTION TABLE OF CONTENT INTRODUCTION 3 1.1: Main Stages of Purchase Decision Making_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Study on Marketing Intelligence
|22
|6268
|175

Unit 17 Marketing Intelligence : Case Study on Topshop
|18
|4536
|31

UNIT 17 Marketing Intelligence : Assignment
|19
|6101
|102

Marketing Intelligence Assignment- Doc
|16
|5101
|146

Marketing Intelligence Assignment Samples (Doc)
|20
|4332
|37

Report On Primark - Market Research Techniques & Business Operations
|21
|5335
|41