Marketing Intelligence Assignment : Tesco

MARKETING
INTELLIGENCE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Main stages of purchase decision-making process...............................................................3
1.2 Buyer behaviour theories .....................................................................................................4
1.3 Factors affecting behaviour of buyer....................................................................................5
1.4 Brand loyalty, corporate image, repeat purchasing and their relationship............................5
TASK 2............................................................................................................................................6
2.1 Different types of market research techniques......................................................................6
2.2 Sources of secondary data ....................................................................................................6
2.3 Assessment of validity and reliability of market research findings......................................7
2.4 Marketing research plan .......................................................................................................7
TASK 3............................................................................................................................................8
3.1 Market size trends.................................................................................................................8
3.2 Competitor analysis...............................................................................................................9
3.3 Evaluating opportunities and threats for given product or service.......................................9
TASK 4..........................................................................................................................................10
4.1 Techniques of assessing customer response.......................................................................10
4.2 Customer satisfaction survey..............................................................................................10
4.3 Review of success of survey...............................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing intelligence is an each day information applicable to a business firm's markets,
collected and evaluated particularly for the motive of exact and assured decision-making for
determination of market opportunities, market penetration strategies. It is specifically essential
when a firm has to enter a foreign market (Liu and et. al., 2017). It identifies the intelligence
required, gathers it through search in environment and provides it to marketing managers who
require them. These systems gather data from different data sources such as web analytics,
business intelligence, data of sales, call centre etc. The present study is going to throw light on
the major stages of purchase decision-making procedure in context of Tesco. Along with this it is
going to cover market research goals and customer satisfaction survey.
TASK 1
1.1 Main stages of purchase decision-making process
There are six stages of decision-making procedure taken by the consumers. As a
marketer, Tesco can market it in an effective manner.
 Problem recognition: Before buying the customer should have a reason what they need,
where they desire to be or how they see themselves or condition is different from where
they really stand.
 Information search: When the problem is acknowledged, the process of searching starts
by the customer (Jones, 2014). They understand that there is a problem and they try to
solve it. The cited retail firm should establish its brand as a industry leader.
 Evaluation of alternatives: If the firm is standing out in the competition it does not assure
that customer will surely buy its products or services.
 Purchase decision: At this stage, the customer has several choices, they know the prices
and options for payment and they decide here whether to buy the product or not.
 Purchase: Now the requirement has been created, research has been done and the
customer has decided to buy the product or service.
 Post-purchase assessment: Purchase has been done, it does not mean that the procedure
has come to an end. After purchase, it is unavoidable that buyer should decide if they are
happy and contented or not (Gabler Landers and Reynolds, 2017).

1.2 Buyer behaviour theories
The initial point to know behaviour of buyers is the stimulus response model. Marketing
and environmental stimuli come in the purchaser's cognitive state. The characteristics and
decision-making process of the buyer results in specific buying decisions. The task of Tesco is to
know what is happening in the buyer's cognitive state of mind between the entering of outer
stimuli and his buying decision (Buyer Behaviour: Stimulus-Response Model, 2017). The buying
behaviour of the consumers is affected by factors such as culture, social and personal. Cultural
factor exercise the widest and profound impact. They are the key determinant of buyer's needs
and behaviours. Every culture comprises of small subcultures which offers more particular
determination and socialisation for the members. The subcultures consists of national origin,
religion, race and geographic area.
Multicultural marketing emerged from careful research of market which reveals how
different ethics and demographic places always does not responds favourably for mass market
advertising. In virtual view, all human societies depict social stratification. Many time is takes
the form of caste system in which people from various castes are given particular roles and they
are not able to change their caste.
Illustration 1: Stimulus Response Model
(Source: Buyer Behaviour- Stimulus-Response Model, 2017)