Marketing Intelligence Assignment - Primark
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Added on 2020-11-12
Marketing Intelligence Assignment - Primark
Added on 2020-11-12
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MARKETING INTELLIGENCE
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Main stages of purchase decision making process 192.........................................................11.2 Theories of buyer’s behaviour...............................................................................................21.3 Factors that affect buyer behaviour.......................................................................................31.4 Relationship between brand loyalty, corporate image and repeat purchase..........................3TASK 2............................................................................................................................................42.1 Different types of market research techniques......................................................................42.2 Sources of secondary data to achieve marketing research activities.....................................52.3 Validity and reliability of market research findings..............................................................52.4 Marketing research plan........................................................................................................5TASK 3............................................................................................................................................73.1 market size trends within the market.....................................................................................7Source: (UK retail sales rise eases pressure on high street, 2018).................................................83.2 Competitor analysis...............................................................................................................83.3 Organisation opportunities and threats..................................................................................8TASK 4............................................................................................................................................84.1 Techniques of assessing customer response..........................................................................84.2 Design customer satisfaction survey.....................................................................................94.3 Review success of survey....................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing intelligence (MI) is considered as method of collecting information about thefirm. This helps in identifying the competitors in the market and actual position of the businessunit (Goh, Heng and Lin, 2013). It is the specialised area of research that assist in developingeffective strategies so that entity can grow well and can gain competitive advantage. Presentstudy is based on Primark which is global retail firm. It provides high quality products to theconsumers as per their requirements. Report will cover stage of purchase decision making.Furthermore, it will explain different marketing techniques to analysis satisfaction level ofcustomers. In addition, assignment will explain relationship between brand loyalty, image andrepeat purchase. TASK 11.1 Main stages of purchase decision making process 192All consumers undergone with several stages. They look for the company's actualperformance, brand image before making their final choice. These phases provide guidelines tothe markets and helps in understanding the needs of consumers so that they can provide themgoods and services as per their requirements (Hair and et.al., 2012). Purchasing decision processare described as below:Awareness and need recognitionIt is the first phase of purchasing decision making in which individual identify their needsand problems due to which individual want to buy any products. Once they have identified theirneeds then they make their purchase decision. For example, if person wants to go to the partythen they search for the party wear that can fulfil this desire (Solomon and et.al., 2014).Information searchIt is another stage of purchasing decision making in which consumer search necessaryinformation in order to fulfil their requirements. For this searching they take support of internaland external sources. They take suggestion from their friends and then make their decision to buyany product (Wrenn, Stevens and Loudon, 2013).Evaluation of alternativesIt is the next ways in which individual evaluate other options. If there is better optionavailable then they go for that option and if selected option is the suitable then they purchasethese goods for the same retailer (Zikmund and Babin, 2012).1
PurchaseOnce people have evaluated the option then they make their decision to buy particularproduct. Their purchase decision may get influenced by quality, price, reviews of the products.Primark concentrate on quality and provide goods to consumers as per their requirements (Sheth,2011).Post purchase behaviourIt is the last stage in which buyers show their behaviour towards the product. If they aresatisfied then give positive review to others but if they are not happy then they become negativetowards the firm. Each person gives different reaction after purchasing the product. Theexperience of the individual reflects in their behaviour (Persaud and Azhar, 2012). This is postpurchase stage in which individual make their mind whether to buy product to company in thefuture or not. 1.2 Theories of buyer’s behaviourIt is essential for the markets that to understand needs of consumers and accordinglyprovide them goods and services. Understanding buying behaviour of consumers support inimproving brand image and sales volume of the entity to great extent (UK retail sales rise easespressure on high street, 2018). Theories to understand buying behaviour are explained as below:Generic theoryIt is most common theoretical aspect which supports in understanding buying decisionprocess of individual. This theory explains that people analysis their needs before makingpurchase. They look at the quality and price of products. After that they search about the productand evaluate other alternative options that can fulfil this need (Influencing The Buyer DecisionProces,. 2011). After going through from all these phase people make their final decision to buyparticular product. Primark has good knowledge about these phases thus, it always offers highquality products to consumers at affordable rate. This supports in increasing satisfaction level ofbuyers.Cultural theoryThis is another theoretical aspect which explain that buying decision of individual ishighly depended upon their cultural aspects. Individual make purchase as per their beliefs andvalues (Marta., 2014). Income, occupation are another elements which impact on their decisions.2
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