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Marketing Intelligence Applications

   

Added on  2020-01-07

15 Pages3993 Words120 Views
Data Science and Big Data
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Marketing Intelligence
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................21.3................................................................................................................................................31.4................................................................................................................................................3TASK 2............................................................................................................................................42.1................................................................................................................................................42.2................................................................................................................................................52.3................................................................................................................................................5TASK 3............................................................................................................................................63.1................................................................................................................................................63.2................................................................................................................................................73.3................................................................................................................................................7TASK 4............................................................................................................................................74.1................................................................................................................................................74.2................................................................................................................................................84.3..............................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11........................................................................................................................................................12
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INTRODUCTIONMarketing Intelligence is termed as an effective process in which company tends tocollect the relevant information which helps entity in the process of decision making. The sourceof information may be internal or external. The data collected usually depicts to various political,economical, technological and sociocultural elements. It also can include information oncustomer demographics and competitors. All these relevant data is transfer to marketingmanagers which helps them in analysis the information critically to carry out on appropriatebusiness decision makings (Al-allak, 2010). In addition to this, marketing managers also collectrelevant secondary data from books, newspaper and social media. In the present report NextPLC, a UK based supermarket retail company which deals in clothing, footwear, etc. and havinginnovation in their footwear trends by enhancing the product range and comprising latestfootwear trends. From gorgeous sandals to stylish flats and block heels to ballet flats.TASK 11.1 The process of decision making comprises the evaluation of some prominent factors,with the help of group of people. It is every marketer’s goal to get inside the head of a consumer.For instance the entity have to perform the very deep research on market to understand thescenarios and strategies. In this every member needs to take part in the decision making process.It is selective process in which individual rephrase their information in a complex decisionmaking (Cacciolatti and Fearne, 2013). In the frame of reference of Next PLC, there are somenecessary steps which will assist in purchase decision making process and they are as follows:Need Recognition:In the relevant buying process, recognition of needs considered as crucial process. Thenneeds of customer generates in three different ways which are functional, social and changeneed, whenever consumers desires to buy anything.Information Search:In this scenario, employees of Next PLC efforts to solve the problems regardinginformation. This is a situation where marketing representatives keeps their focus on thedemands of customers. At the time of purchase customer give their attention to their relativesthat is superior at the time of purchasing.1
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