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Marketing Intelligence Assignment Solution

   

Added on  2020-09-17

18 Pages4568 Words65 Views
MARKETINGINTELLIGENCE
Marketing Intelligence Assignment Solution_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................31.1 Stages of purchase decision making process....................................................................31.2 Theories of buyer behaviour in terms of individuals and markets...................................41.3 Factors affecting buyer behaviour....................................................................................41.4 Relationship between brand loyalty, corporate image and repeat purchasing.................5TASK 2............................................................................................................................................62.1 Various kinds of market research techniques...................................................................62.2 Sources of secondary data to achieve marketing research objectives..............................72.3 Validity and reliability of market research findings.........................................................72.4 Market research plan to obtain information in a given situation......................................8TASK 3............................................................................................................................................83.1 Assessing market size trends within the market organisation operates in........................83.2 Planning and carrying out the competitor analysis...........................................................93.3 Evaluating organisation's opportunities and threats for a given product of service.......10TASK 4..........................................................................................................................................104.1 Techniques of assessing customer response and evaluating their effectiveness............104.2 Designing a complete customer satisfaction survey.......................................................114.3 Review success of completed survey.............................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13Books and Journals...............................................................................................................13
Marketing Intelligence Assignment Solution_2
INTRODUCTIONMarketing intelligence can be defined as the kind of research which is based on conceptof marketing to conduct effective and efficient promotional activities. This factor focuses onconsumer behaviour and their buying decisions to know about correct implementation of theoriesor scenario of market trends. The survey should be designed to fulfil the needs, wants anddemands of clients to attain their satisfaction as well as loyalty. This report is based onMorrisons which was found in the year 1899 by William Morrisons as an egg and butter stall inEngland. This organisation is listed in London stock exchange as it is a part of FTSE 100 indexof enterprises. This assignment will discuss about buyer behaviour with its influencing factorsand provides information regarding research proposal and market search findings to use it. Bythis, it has become easy to make decision of implementation of suitable strategies or policies tobuild up promotional activities according to current trends of market (Akar and Topçu, 2011). Italso includes client relationship management to assess various levels of customer satisfaction byusing several developmental business skills.TASK 11.1 Stages of purchase decision making processDecision making to buy the particular product is based on several factors in respect totastes and preferences of clients according to their needs or wants in current trends.Dimensions of buying behaviour: This can be defined as those elements on whichcustomer's preferences are based such as their budget of income, quality they want in product,loyalty for a particular brand, etc. Situations and kind of purchasing decisions: As per different conditions, the needs ofpeople will changed and they can buy only those goods or services which can be affordable forthe customers.Purchase decision making process: There are several steps in making consumer'sdecisionto purchasing the specific product are given below:Stage 1:- The first step is arises due to sort out problem because of that client needs andwants should be generated to complete them, it is important to make decision of buying(Phelan and et. al., 2011).
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Stage 2:- Second step includes to identify number of alternative choices which can fulfiltheir demands or preferences.Stage 3:- Next step considered the factors related to evaluation of such factors to makeselection of the best one choice.Stage4:- After that, it is necessary to implement best choice of alternative to achievebetter output which facilitates better growth of company.Stage 5:- At last, it is mandatory to evaluate the whole process in respect to sort outthreats and problems regarding it (Minelli, Chambers and Dhiraj, 2012).Morrisons have to work on all of the above mentioned factors to understand aboutconsumer behaviour to apply successfully. It results to boost up productivity and profitability.1.2 Theories of buyer behaviour in terms of individuals and marketsThere are various theories which indicates about to understand purchasing behaviour ofpeople as well as the market trends or scenarios. Due to this organisation will able to implementinnovative models or theories to fulfil customer's demand or preference and balance its positionin current market condition.Generic theory of buying decisions: Most of the times, people used to follow this modelto make buying decision. In general, people are forced to make purchasing determinationregarding their daily needs or wants. Stimulus response model: This factor considers the marketing and other stimuli enterscustomers in “Black Box” for collecting information about several responses. These responsesmust be included to work on the same which facilitates to complete their needs or expectations aswell. Diffusion and innovation: This includes the diffusion of innovation theory in which it ismentioned that an idea or product attains momentum and diffuse through particular social factoror population. Adoption should be considered to purchase a new product for completing thesame desires (Sigala, Christou and Gretzel, 2012).The enterprise named Morrisons has to use all above mentioned factors to improve theirskills of knowing about needs and desires of customers by implementing certain theories ormodels.1.3 Factors affecting buyer behaviour
Marketing Intelligence Assignment Solution_4

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