Marketing Intelligence of Zara
Added on 2020-07-23
15 Pages3875 Words163 Views
Marketing Intelligence
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................11.1 Different stages involved in purchase decision making process...........................................12.2 Different theories of buyer’s behaviour................................................................................31.3 Factors that affect consumers behaviour...............................................................................41.4 Evaluating the relationship between brand loyalty, corporate image and repeat purchasing.....................................................................................................................................................4Task 2...............................................................................................................................................52.1 Different types of market research techniques......................................................................52.2 Different sources of secondary data for accomplishing the market objectives.....................52.3 Assessing the validity and reliability of market research findings.......................................62.4 prepare a marketing research plan to obtain information ina given situation.........................................................................................................................6Task 3...............................................................................................................................................73.1 Assessing market size and trends..........................................................................................73.2 Analysis of competitors.........................................................................................................73.3 Evaluation of opportunities and threats of the given product...............................................7Task 4...............................................................................................................................................84.1 Evaluating techniques of assessing customer response........................................................84.2 Designing of customer satisfaction survey...........................................................................84.3 Reviewing the success of the survey.....................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................111
INTRODUCTIONMarketing intelligence gives the detailed information of firm's market and collects andanalyse the decision-making process, marketing strategy etc. It determines the intelligent ways inwhich business can be developed. Zara is known for fashion brands and clothes in Spain. It has2000 stores and approximate annual income of £2.5 billion (Andaleeb and Hasan, 2016). In thisreport, the main concern is given on buyer’s behaviour and purchase decision making process.Further, market research techniques are evaluated. Further, market size and future demands areassessed. Moreover, different techniques are used for determining customer response. Customersatisfaction survey is designed and reviewed.Task 11.1 Different stages involved in purchase decision making processThere are different stages involved in making decision while purchasing any productwhich are defined as follows:
Need recognition:Regular evaluation of customers changing demands are very necessary to make producteffective. Determining the needs and demands of the consumer is very necessary for Zara todevelop new products which aid in gain success and popularity in the market.Searching and gathering information:In this stage, customer collects whole information about the product and determinespositive and negative things of their products. Online shopping websites and changing trends hasmade customers aware to make better decision while purchasing new products (Banović andet.al., 2016).Evaluation of alternative methods:2Illustration 1: Different steps of buyer decision making process(Source: Marketing & Buyer Behavior - the Decision-Making Process. 2015)
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