Marketing Intelligence Assignment Solved

MARKETING
INTELLIGENCE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Main stages of the purchase decision making process...........................................................1
1.2 Theories of buyers behaviour in terms of individuals and market.........................................2
1.3 Factors affecting buyers behaviour........................................................................................3
1.4 Relationship between brand loyalty, corporate image and repeat purchasing.......................3
TASK 2............................................................................................................................................3
2.1 Market research techniques....................................................................................................3
2.2 Secondary data to achieve marketing research techniques....................................................4
2.3 Viability and reliability of the market research findings.......................................................4
2.4 Marketing research plan.........................................................................................................5
TASK 3............................................................................................................................................5
3.1 Assessment of market size trends..........................................................................................5
3.2 Competitor analysis...............................................................................................................6
3.3 SWOT analysis of Volkswagen.............................................................................................6
TASK 4............................................................................................................................................7
4.1 Techniques for assessing customers response.......................................................................7
4.2 Design and complete a customer satisfaction survey............................................................8
4.3 Review the success of a completed survey..........................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing intelligence is defined as the process through which information relating to the
market trends, competitors and consumers of a business is gathered and monitored for the
purpose of decision making. Through marketing intelligence accurate decisions are made by
determining strategies in the area of market opportunities and market penetration. The company
taken for the project report is Volkswagen. It is a company in auto-mobile sector founded in the
year 1937. Founder of the organisation is German Labour Front and in the year 1953 it extended
its market segments to UK markets (Marketing Intelligence, 2013). The reports includes decision
making process of consumers, buyers behaviour theories, factors that affects buyers behaviours.
Objectives of the market research and techniques used for the same with usage of secondary
data. Validity and reliability of market research findings and market research plan. Together with
this market size trend and SWOT analysis for the organisation. Consumer satisfaction survey
with review of the survey.
TASK 1
1.1 Main stages of the purchase decision making process
Purchase decision making is the process that helps in identifying needs and preferences
of consumers. This decision making moves through different stages in the first stages the needs
and wants for the product and service offered will be identified. In the second stage the best
suitable product that satisfy the needs will be searched. Such as availability of different forms of
auto-mobiles is their and one which suits the best will be identified. In the third stage different
alternatives served by various manufacturers in the auto-mobile sector will be analysed (Du Toit,
2015). In the fourth stage selection decision will be made which is most suitable for available
resources. In the fifth stage evaluation of the purchase decision will be made after using the
purchased car for some period. This last stage helps to judge whether the selected product helps
in satisfying needs of the consumers or not. Through evaluation Volkswagen will be able to
make correct market strategy for satisfying large number of consumers.
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Source: Marketing Intelligence, 2013
1.2 Theories of buyers behaviour in terms of individuals and market
Buyers behaviour is defined as study that helps to analyse how an individual or a group
of consumers select a product and service offered to them. This concept will allows Volkswagen
organisation to understand requirements of their targeted consumer group. Theories that are used
by Volkswagen to understand buyers behaviour is economic consumer theory and internal
theory. Economical consumer theory of organisation suggest that each consumer evaluate all the
alternative options available to them in terms of cost while making buying decision (Al-Weshah,
2017). This helps Volkswagen organisation in developing the product at such cost which can
compete in the market on the basis of price charged. Internal theory of consumer behaviour
reflects individual behaviour in decision making for purchase of the product. A individual is
influenced by family, personality and social status by making a buying decision. Understanding
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Illustration 1: Marketing Intelligence, 2013

this theory will lead to development of the product by Volkswagen which can meet all the
criteria of internal theory.
1.3 Factors affecting buyers behaviour
There are several factors that affects buyers behaviour in the market and to satisfy large
number of consumers through effective planning Volkswagen organisation needs to understand
these factors. Culture is one of the primary factor that influences buying decision of an
individual. Culture is passed through generations in the family and also adopted form the place
where an individual is residing (Jamil, 2013). Sale for cares by Volkswagen will be influenced
by culture in the society of giving preference to owing cars with the fractures offered by the
company. Personal factors of an individual also reflected in buyers behaviour. As buying
decision will differ for consumers of different age, gender, education level, Social statue,
lifestyle and family background. To satisfy more and more number of consumers with the
product Volkswagen is offering a range of cars that is suitable for different individuals.
1.4 Relationship between brand loyalty, corporate image and repeat purchasing
Brand loyalty reflects the dedication of the consumers with respect to a particular brand.
It shows desire of the customer to buy a specific brand. When a consumer strongly likes a brand
and its offering then no other brand is considered by them. Corporate image is the psychological
image that consumers possess regarding a brand. A good corporate image attracts more and more
consumers through mouth publicity of existing consumers (Li and Li, 2013). Repeat purchasing
represents when the customers purchases a product and service for the first time and after that
purchases are made for the same on repetitive basis. These three terms are interrelated with one
another. As various effective techniques are used by Volkswagen organisation through effective
marketing to build good corporate image in the mind of the community. This will attract
consumers to buy the product for the first time. When consumers needs are satisfied in most
effective manner then it will give repeat purchase and this repeat purchase will bring brand
loyalty towards Volkswagen.
TASK 2
2.1 Market research techniques
Market research is a technique used by business organisation to gather information
regarding targeted consumer group. In market research techniques qualitative techniques such as
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focus group, interviews are included and in quantitative techniques customer survey and analysis
of data is involved. Volkswagen is in the industry since last many years and is highly challenged
by large number of competitors. These techniques will help company to understand their
consumers in better manner (Malhotra and Dash, 2013).
Consumer survey: This method is used by Volkswagen to gain the attention of
consumers. Survey will be conducted by company at different locations to know the reach and
importance at different locations. This can be conducted through mails, online survey and
telephone.
Focus group: Focus group includes permanent and potential consumers of the company.
Through this market research technique Volkswagen focuses on attracting consumers which are
loyal to brand.
Personal interview: Consumers personal view on the product offered by Volkswagen is
recorded to enhance the brand quality as per their taste (Purchase decision making process,
2013).
Analysis of data: Primary and secondary data available with the organisation is analysed
to bring out the required information for good decision making.
2.2 Secondary data to achieve marketing research techniques
Secondary data is the information that is collected and stored by an organisation other
then that of using the data. Volkswagen is using the information available through secondary for
making strategies to achieve its objectives of gaining large market share and generating more
revenues in future. The secondary data provides lots of information regarding to all the
competitors available over the globe. The information that is provided through secondary data
will help managers of Volkswagen organisation to get more insight view of different markets
where the product is offered (Mitic and Kapoulas, 2012). Secondary sources can be government
and non-government reports, news, articles, treaties, stored data, commercial data etc.
2.3 Viability and reliability of the market research findings
Findings that are used by business organisation through market research only serves basis
for decisions and no organisation gives complete reliance on the data generated through market
research. It means that market research is a suggestion for manufacturing, marketing and
promoting a product offered and not a solution. In market research only primary data is
considered for decision making and as it is raw no check on its viability can be made. There are
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several challenges that Volkswagen is facing in the current scenario. Marketing research don't
cover all the challenges and issues. There is no validity of market research whether it is
measuring what is expected to measure (Piercy and Evans, 2014).
2.4 Marketing research plan
A marketing research plan to know the extent of satisfaction level of consumers in
Volkswagen. Following are the steps involved in marketing research plan:
Step1: A rational marketing research will be performed to identify needs of the
consumers and understand various threats and opportunities for enhancing product variety as per
consumers requirements.
Step2: Under this step objective of the company will be identified.
Step3: Under this step value to the identified information is provided. As level of
satisfaction through usage of Volkswagen cars will be mentioned.
Step4: By using several samples analysis of data will be done.
Step5: A time frame will be suggested in which research will be completed.
Step6: A budget will be prepared for conducting market research.
TASK 3
3.1 Assessment of market size trends
Market refers to the group of consumers or organisations that are interested in product
and has resources to purchase the product (Ross, McGowan and Styger, 2012). Market is consist
with current and potential consumers along with them retailers, competitors and intermediaries
are also part of market.
Mobility market in UK: In UK market for auto-mobile products is quite well
established and ruled by large manufacturers. There is a market for new mobility products and
used products with larger consumer base. A larger consumer base serves as an opportunity for
Volkswagen to absorb certain level of UK market in auto-mobile sector.
Market size and value: Due to availability of large population in the country market size
is very large. A recent trend is seen that more and more consumers are preferring cars with
advance automatic features. Volkswagen needs to consider this while assessing the market trend
in UK.
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In recent times it is seen that consumers taste and preference is changing at great extant
and to survive in the market and make it an opportunity recent market trends needs to be served.
Volkswagen needs to focus on more correct choices in marketing strategy for the company as
consumers can choose product offered by competitor if that is satisfying their needs in a better
manner (Sarwar, Abbasi and Pervaiz, 2012).
3.2 Competitor analysis
Competitor analysis is the process through which a business organisation identifies,
analyse and evaluate the current and potential competitors in the industry. This helps businesses
to identify various opportunities that can be garbed as per current market scenario. Analysing a
competitor will gives benefits to Volkswagen by developing marketing and promotional
strategies in a better manner then other competitors. When a new product variety is launched in
UK market or business is expanded to some other country then at that profile of the competitors
are very important to understand. Volkswagen needs to analyse the already established brand
name of its rivals. A detailed information regarding present market share and new business
strategies of the rival business company will be recorded by Volkswagen to enhance its
operations in UK. Together with this information regarding a competitor whether business is
innovator or follower and all the business objectives of the challenger needs to be identified to
beet the competition (Søilen, 2013). It is important to identify weakness together with strengths
to gain competitive advantages.
3.3 SWOT analysis of Volkswagen
Strengths:
International presence: One of the greatest strength of Volkswagen is its global
presence. This helps in creating a brand image over the world and generate demand at grater
extent. In the recent time business is extended to China through partnership and operations in the
business has enhanced. More access to market and large consumers group is one of the derided
advantage of international presence.
Large product portfolio: Volkswagen deals in financial services apart from automotive
sector. The organisation serves 12 automotive brands and several has large and controlling stake
in the market. A premium range of products are offered by them with certain economical
products. This wide range make the business more competitive.
Weakness:
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Compliances issues: Business of Volkswagen has to suffer through penalties and fines of
25 Billions in US for 580000 tainted vehicles. This has a negative impact on the operating profits
of the business and more legal compliances has evolved for the company.
Image spotted by diesel scandal: In the year 2015 the company was involved in a
scandal and that news spoiled brand image of the company. Effect of this was continued till 2017
by recording a reduction in scale of operations (Stone and Woodcock, 2014).
Opportunities:
Growing demand: It is seen that demand for the passenger car in Asia Pacific is at
growing stage. This is a major opportunity for Volkswagen to grab large market and increase its
sales. Indian and China market offering bigger opportunities for automotive companies.
Sustainable technology: Technology used for producing vehicles by Volkswagen is
sustainable and in the recent times it is highly preferred all over the world. This serves as an
opportunity for the company to establish its good brand name.
Threats:
Heavy competition: The level of competition in the auto-mobile sector is increasing day
by day and it becomes very challenging for Volkswagen to be competent in the market.
Economic fluctuations: Fluctuation in the economy leads to reduction in sales and loss
of revenue. Various economies are facing recession in the world and this has a negative impact
on the success of the business.
TASK 4
4.1 Techniques for assessing customers response
Techniques for assessing consumers response is a method used by business organizations
to know response of consumers for the product and service offered to them. Volkswagen uses
different techniques for assessing consumers response which are-
Home consumer survey: The company uses the home consumer survey to access the
information of the company. In this company directly conduct survey at consumers place to
know their response regarding the brand name and the quality of the product they serve. This
helps in gaining true and fair response of large consumer group.
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Questionnaire: Under this method a list of questions are prepared and consumers are
asked to respond on these questions. This can be performed online or in offline method to gain
the reliable information for consumers response.
Consumers suggestion: Consumers suggestion is an effective technique used by
Volkswagen organisation to know consumers response. Suggestions provided by customers
helps in providing information regarding satisfaction level from quality of the product offered to
them.
Consumers Expectations: Consumer's expectations is the expected services and the
products by the consumers. This helps in assessing consumers response towards goods and
services offered to them in terms of quality.
4.2 Design and complete a customer satisfaction survey
The final stage of consumers decision making involves evaluation of the buying decision.
At this stage consumer will evaluate the own decision of purchasing in terms of the usage of the
product and the features provided by the product. This survey will help Volkswagen to know
regarding level of satisfaction that consumers enjoys through purchase of goods offered by the
company. In long run quality of the products is enhanced as per consumers requirements and
business will be benefited through long term survival (Wright, Bisson and Duffy, 2012).
Questionnaire used by Volkswagen for survey is designed as-
Question1: Would you recommend the company and its products to your friends and family?
A. Yes
B. No
C. May be
Question2: Do you think offered products is of good quality and worth the cost ?
A. Yes
B. No
Question3: Which feature of the product attracts you the most ?
A. Safety feature
B. Technology
C. Price
D. Design
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Question4: How do you rate the quality and service of the company ?
A. Excellent
B. Good
C. Normal
D. Poor
Queation5: How do yo rate your satisfaction level through our products ?
A. Vert satisfied
B. Satisfied
C. Neutral
D. Dissatisfied
Serial no. Question Person 1 Person 2 Person 3 Person 4 Person 5
1 Would you
recommend
the
company
and its
products to
your friends
and family ?
YES YES MAY BE NO MAY BE
2 Do you
think
offered
products is
of good
quality and
worth the
cost ?
YES YES NO NO YES
3 Which
feature of
SAFTY PRICE TECHNOL DESIGN DESIGN
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the product
attracts you
the most ?
OGY
4 How do you
rate the
quality and
service of
the
company ?
EXCELEN
T
EXCELEN
T
GOOD POOR NORMAL
5 How do yo
rate your
satisfaction
level
through our
products ?
VERY
SATISFIED
SATISFIED NUTRAL DISSATISF
IED
NUTERAL
4.3 Review the success of a completed survey
The organisations carry out consumer satisfaction survey for determining the level of
satisfaction that consumers enjoys through consumption of goods offered by Volkswagen. This
survey helps in recording the variation in the satisfaction level of consumers and also reasons
behind these variations. In long run all the effective measures will be taken by Volkswagen to
cope up with the variation. A improvement in the overall quality of the product will be initiated
through considering results of survey. A number of participants from the targeted consumer
market will be approached and data will be collected by them. As questioner is personally filled
by consumers access to true and fair information will be made. A successful completion of the
consumer satisfaction survey will provide all the information that will help Volkswagen to
improve quality of the goods offered. A better insight to the needs of consumers and satisfying it
in the most effective manner make the business more competitive in respect to other competitors.
All the weakness of the company will be removed by turning them into strengths and business
objectives will be achieved by satisfying large number of consumer group.
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CONCLUSION
From the above project report it has been concluded that each business organisation for
enjoying long term profits needs to get more and more satisfied consumers. For satisfying
consumers buyers behaviour and their purchasing decision process will be identified by
Volkswagen. For marketing research information will be collected through different source that
are reliable. Establishment of an organisation and grabbing more and more market share will
require information regarding market size and future demand. Volkswagen will have a consumer
satisfaction survey to record information for level of satisfaction that consumers enjoys with the
products offered. All this marketing intelligence technique will help company to compete in
better manner with the existing competition in the market.
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REFERENCES
Books and Journals
Al-Weshah, G. A., 2017. Marketing intelligence and customer relationships: empirical evidence
from Jordanian banks. Journal of Marketing Analytics. 5(3-4). pp.141-152.
Du Toit, A. S., 2015. Competitive intelligence research: An investigation of trends in the
literature. Journal of Intelligence Studies in Business. 5(2).
Jamil, G. L., 2013. Approaching Market Intelligence concept through a case analysis:
Continuous knowledge for marketing strategic management and its complementarity to
competitive intelligence. Procedia Technology. 9. pp.463-472.
Li, Y. M. and Li, T. Y., 2013. Deriving market intelligence from microblogs. Decision Support
Systems. 55(1). pp.206-217.
Malhotra, N. and Dash, S., 2013. Future of research in marketing in emerging economies.
Marketing Intelligence & Planning. 31(2).
Mitic, M. and Kapoulas, A., 2012. Understanding the role of social media in bank marketing.
Marketing Intelligence & Planning. 30(7). pp.668-686.
Piercy, N. and Evans, M., 2014. Managing marketing information (rle marketing). Routledge.
Ross, P., McGowan, C. and Styger, L., 2012, October. A comparison of theory and practice in
market intelligence gathering for Australian micro-businesses and SMEs. In
Proceedings of 19th International Business Research Conference.
Sarwar, M. Z., Abbasi, K. S. and Pervaiz, S., 2012. The effect of customer trust on customer
loyalty and customer retention: A moderating role of cause related marketing. Global
Journal of Management and Business Research. 12(6).
Søilen, K. S., 2013. An overview of articles on Competitive Intelligence in JCIM and CIR.
Journal of Intelligence Studies in Business. 3(1).
Stone, M. D. and Woodcock, N. D., 2014. Interactive, direct and digital marketing: A future that
depends on better use of business intelligence. Journal of Research in Interactive
Marketing .8(1). pp.4-17.
Wright, S., Bisson, C. and Duffy, A. P., 2012. Applying a behavioural and operational diagnostic
typology of competitive intelligence practice: empirical evidence from the SME sector
in Turkey. Journal of Strategic Marketing. 20(1). pp.19-33.
Online
Purchase decision making process. 2013. [Online]. Available through:
<https://www.business2community.com/marketing/5-steps-of-decision-making-process-
0480178>
Marketing Intelligence. 2013. [Online]. Available through:
<https://www.influencerrelations.com/2002/what-role-does-analyst-insight-have-in-
market-intelligence>
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