Market Intelligence Analysis and Application

This assignment delves into the critical role of market intelligence in contemporary marketing strategies. It requires students to define market intelligence, outline its various applications across different marketing functions, and critically analyze how organizations leverage it for competitive advantage. The assignment further necessitates the application of learned concepts through the analysis of real-world case studies or examples, showcasing the practical implications of market intelligence in diverse business scenarios.

Marketing Intelligence

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Main phase of purchase decision making process............................................................1
1.2 Theories of buyer behaviour in term of individual and market........................................3
1.3 Explain the factors affect buyer behaviour.......................................................................4
1.4 Analyse the relationship between brand loyalty, corporate image and repeat purchasing5
TASK 2............................................................................................................................................6
2.1 Analyse the different kinds of market research techniques..............................................6
4.1 Techniques of assessing customer response.....................................................................8
2.4 Propose the marketing research plan to obtain the information in a given situation.......9
4.2 Customer satisfaction survey..........................................................................................11
4.3 Review the success of complete survey.........................................................................13
2.2 Identify the sources of secondary data relevant to achieve marketing objectives..........13
2.3 To study the validity and reliability of market research findings...................................15
TASK 3 ........................................................................................................................................16
Covered in PPT.....................................................................................................................16
TASK 4..........................................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17
.......................................................................................................................................................18

INTRODUCTION
Customers are priority of most the organisations because they play crucial role in success
and failure of a company. Marketing department of an enterprise is responsible for finding the
needs of market so they can manufacture goods and deliver services accordingly. Mark and
Spencer is a public limited company; they are operating in retail industry. They have more than
1000 stores across the globe. This report will discuss about stages of purchase decision making
process. It will also include theories relating to buyer’s behaviour. Techniques of market
research will also become part of this file (Akturan and Tezcan, 2012). This file will also discuss
about customer satisfaction survey so they can assess consumer's response. Relationship between
important factors like brand loyalty will also become part of this assignment.
TASK 1
1.1 Main phase of purchase decision making process
Marks and Spencer is a fashion company that deals in clothing sector from a long time. It
works for selling clothing, luxury food products, and daily needs goods which are essential for
survival of human being. Every marketing company works only to satisfy the needs and wants of
consumers so they get high profits. The business buying decision process and consumer buying
decision process are discussed below:
Consumer buying decision process: It contain various steps which are discussed here:
Problem recognition: Every decision making process involve some type of problems.
Consumer develop their taste and preferences according to changing demand that this company
want to be work for these needs and wants.
Information search: It is the second step of purchase decision making process where
customer identifies their requirements and about the presence of product in market. To make
their decision about purchase of good need to gather the information by the use of different
resources like commercial. Personal, experimental, and public sources. It is also important for
organisation like M&S to consider the requirements of customers and provides the goods
according to them. It helps in influencing their decision making. (Albayrak, Aksoy and Caber,
2013).
Evaluating Alternatives: Customers analyse many alternatives which are available in
market in term of price of product, quality of goods and many other factors.
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Decision-making about purchase: It is a stage where customer makes their decision
about purchase of goods from alternative choices of different brands. For ex., M&S provides
different kind of clothes from which customers decide to purchase according to their preferences.
Behaviour of customer after purchase: There are many changes are happen in products
on regular basis due to changing in trends. Customer feel satisfied with the purchase of product if
such products are met their needs in comparison to new product.
Business buyer decision making process: It contain various steps which are discussed here:
General need description: Every company firstly describe their products and services so
this helps to improvement these commodities and also met customers’ needs and wants. Mangers
try to understand their own need and then make further plans regarding the suppliers.
Supplier search: In this stage, organisation search their supplier’s gods and services with
the help of review their trade directories. There are many suppliers who offer products at various
rate so it is important to search one who can provide quality material at competitive rate. (Annie
Jin, 2012).
Supplier selection: In this process, company select their providers using many factors
like honest communication, product quality and their competitive prices. Sometime companies
make mistake by selecting a seller who provide goods at low price but after sometime he reduces
quality of product. This problem increased the demand of honest communication so transactions
can happen according to the deal. There are some another process of purchase decision making
which are as follows: Need recognition: It is an important process of decision making regarding the purchase.
Customers evaluate their needs and also ensure about the products that it fulfil their
needs. This stage aid in targeting by the company to its customers. Search for information: In this process the customers search on online about the
products and get appropriate information about the products and match their needs in
effective way. Evaluate all the alternatives: In this stage the customers evaluating as well as analysis
the alternative of the products as per their previous stage.
 Decision of purchase: In this stage the customers take final decision about the products
and buy it effective for satisfy their needs.
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With the help of these stages it aid in influencing the customers taste and organization
sales.
Illustration 1: Consumer decision making process
1.2 Theories of buyer behaviour in term of individual and market
There are many theories of consumer behaviour in term of individual and businesses are
continuously evaluating then to how the consumer purchases goods and services. It is the duty of
the management of M&S is constantly apply behavioural theories to understand about buying
pattern of customers which is used by them for purchase of products and services. Through this
large number of benefits are gathered by M&S like competitive advantage, higher amount of
sales, improved profitability, large market share etc. There are many factors which influence the
buying behaviour of customers like personality, environmental elements and cultural differences.
The different approaches which are applied are mentioned below:
Economic Man: This is the model which is used in order to satisfy the customers so they
can be in the equilibrium state. This is an important factor in order to bring all the factors related
with the economy in the state of equilibrium.
Psychodynamic: It is an effective and systematic study which defines the behaviour as
well as feelings of human towards the company products and services. By using this approach
company easily determine customers demand and needs in order to get their satisfaction level.
With the help of this they improve their performance of the company and also attain competitive
advantage. This theory of behaviour helps to understand about the psychological approaches
which used by the customer's while making their decisions. This provides that there are two main
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factors which affects the behaviour of customer's and are not under the control of individual.
Customer only chooses such alternative which provides more satisfaction to customers.
Behaviourists theory: - According to this component an individual may acquire new
things or change behaviour by considering environmental conditions. Basically, it is an
appropriate framework of analysing the nature of human’s beings which is based on certain
stimuli. This theory provides that behaviour of customers is determined with the help of such
things which are performed by them like their feelings, thought and emotions. With the help of
application of the approach of this theory specific behaviour pattern is determined about
customers. It is provided by the other scholars that this approach has limited scope and
importance in current scenario. So, the management of M&S is needed to adopt the different
approaches which helps in proper identification of the behaviour of customer's.
Cognitive: - An approach whose main objective is to study the mental process or status
of an individual. According to this theory, management of M&S is need to identify the
preferences of customers in actual which helps to makes changes in their existing products and
influence the decision-making of customers to buy their brand products only. As per the study of
this approach, it is identified that process of understanding the behaviour of customer is difficult
task. Through research the information is collected about behaviour provides various outcomes
which are not clear. So, the interpretation of the results are made of the basis of the assumption
in this theory that consumer's makes their decision on the basis of insight , innovation and
information processing about products and services provided by organisation. It helps the
management of M&S is to understand about the fact that more factors are associated with the
behaviour of customer like experience, interest, importance and familiarity.
Generic theory: This theory is used regarding identification of the issues which are
associated with customer's behaviour and to conduct research which help in selection of best
results.
1.3 Explain the factors affect buyer behaviour
In order to raise the total sales, it is important that the behaviour of different buyers is
determined so that accordingly the services can be delivered. It helps in making modifications in
the own product which is best suitable for the target market. There are five factors which affects
the consumer behaviour which are as follows:
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Internal or psychological factor: The buying behaviour of consumers are affected by
this factors. These are the motivation and perception. Motive relate to buying behaviour means
individual develop their satisfaction level through the purchasing of something. In perception
here means every human being have develop their 5 senses that is touch, smell, hearing, taste and
sight. Brain make their decision power to help what is right and what is wrong. Sometime the
information exists in brain it does not provide complete scene of world (Cheah and Phau, 2011).
Social factor: There are some social factors which influencing the buyer behaviour
which are as follows: Family: This will influence the person characteristic, personality, attitude and their
decision making process involved buying procedure of goods and services a marketing
point of view, the demand for product and services largely depends on number of
households than number of families.
 Reference group: A two or more persons who share their set norms and beliefs so it will
help to make their relationship behaviour interdependent. They strongly affect the
individual norms, attitude and behaviour directly and indirectly.
Cultural factor: Individual need and want largely depends on their culture which they
exist. They also influence the consumption pattern and decision making pattern. It is a set of
values and belief that are jointly shared by most persons within a group. Cultures can change
over a time period some changes tend to be slow, some tend to be fast. Buyer behaviour also
ascertained on the basis of society which they are belong.
Economic factors: Buyer behaviour also affects the economic factors those are
prevailing in market such as the personal income of individual, their family income, savings,
consumer credits and other economic factors. Family income means sum of all the income of all
members of family (Gabrielli and Balboni, 2010).
Personal factor: Buyer behaviour is also affect their personal factor it includes age,
occupation, income and life style. In different stages of life cycle, persons purchase the different
goods and services. Individual taste and preferences changes on the basis of changes in life
cycle.
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1.4 Analyse the relationship between brand loyalty, corporate image and repeat purchasing
Marks and Spencer always want to enhance their relationship with customers. They
provide better products and services to the consumers. Firstly, the company define the three
terms that is brand loyalty, corporate image and repeat purchasing.
Brand loyalty define as formation of new kind of products, services and organisations
with different name, symbol, images and brand are used. It represents the loyalty of the
customers with respect the company brand. The customers show their desiring factor to purchase
that particular brand of company. If a person is strongly show their interest to buy that brand then
they are not consider another brand.
Corporate image defines as represent the important picture of brand in the mind of
widespread community (Gök and Hacioglu, 2010). This company mainly working for to design
the different communication style, different style of logos, text, brands, and colour these all are
create a pleasing impression in the mind of wide variety of community.
Repeat purchase defines as individuals purchase the same brand of product in every
occasions. These three factors are interrelated with each other. This cited company provides an
effective technique of marketing that build a favourable corporate image in the mind of large
number of customers. Customer purchase the brand only for testing purpose then if they are
satisfied with the same he/she continues with the same and become a long term costumer for the
brand. The factor repeat purchase bring the loyalty of brand. The good must satisfy the need and
want of customer so he or she again buy this brand.
TASK 2
2.1 Analyse the different kinds of market research techniques
Marketing research is a part of business planning process. It provides the important
information such as prices of product and services, characteristics etc. to the marketers. Without
marketing research, the two strategies are difficult to perform namely as market segmentation
and product differentiation. As a business intelligent expert of the Marks and Spencer, some
investigation are created to analyse the different techniques are as follows:
Qualitative marketing research technique: These methods are more flexible and form
a less constructed (Hudson, 2010). The deeply information are collected in this method because
the flexibility exist in relationship with the company respondent. It means more visual aspect and
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sensory system are applied here. This method can be exit in three areas which are mentioned
below:
Exploratory: In this area problem is to be identified, some suggestion are given relate to
hypothesis.
Orientation: Company know more about the consumer wants and needs.
Clinical: To collect information related to research methods.
Some of these qualitative marketing research techniques are mentioned here:
Individual in depth interviews: In this type of interview, there is face to face contact
between suppliers and client. All the matters relate to issues are mentioned here. Non directive
and semi structured are two type of individual in-depth interview. In non-directive interview, the
interviewee is given the full freedom to react if any issues are arising. The time period for this
conversation is that one to two hours whereas in semi structured interview, the researcher has
conducted the research only those areas which are mentioned in their list. They are very flexible
(Johns and Van Doren, 2010).
 Advantage: The main advantage of this methods is that much comprehensive data can be
collected and maintain friendly environment with other person. Disadvantage: It include challenges in training interviewers.
Focus group session: People are discussing their ideas relate to some marketing issue
and get possible solutions. Their main objective is same as unstructured interview but sometime
they are very time consuming. Advantages – Deeper understanding of issue and empowerment of participants.
 Disadvantages – Chances of biasness is high and lack of representativeness.
Observations: It is the process which helps in collection of the information through observing
the behaviour of customers. To grab reliable and accurate knowledge the management of M&S
need to have appropriate skills. It provides the opportunity to understand different aspects from
their gestures.
 Advantages: Different advantages which are gathered includes:
◦ Less amount sources are required to collect information
◦ Important method of qualitative research which saves time and money
 Disadvantages: Different disadvantages are:
 Difficult to collect reliable information
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 Not understand about the actual perception of customers
Quantitative market research technique: In this method, there are different kind of
techniques are mentioned here:
Personal interviewing: In this interview session, the interviewer are communicated to
interviewee and at same time it will affect the interview environment. Advantages – Better understanding about the respondent and it relatively get high
responses.
 Disadvantages – It involve huge cost and if interviewer is not trained the desired
outcomes cannot be achieved.
Telephonic interviewing: This interview is similar to personal interview but some factors
are different such as selecting telephone number, when to call. This is most important method for
obtaining information from large number of distribution.
Mail survey: This procedure is so simpler. In this method, firstly identified the candidates
then questionnaires are to be mailed. This method is very successful because embarrassing
question are to be asked relate to finance.
 Advantage: It define accurate data in effective manner.
 Disadvantage: The drawback of this methods is that it takes more time to define a mail.
Web survey: In this technique, many kind of questionnaire are to be posted in different
websites where the various kind of clients to fill their questionnaire (Jones and Rowley, 2011).
Its cost is extremely low.
 Advantage: One of the main advantage of this techniques is that it is more accurate.
 Disadvantage: Less reliability is always existing in this technique.
Experimentation: In this method, researcher modify some sort of data and information
and its effect of their dependent variable. It helps to company to see the effect of marketing
operations in coming future. There are some another multiple research techniques which is used
by the company to undertake market research:
 Advantage: Cause and effective relationship between the variables.
 Disadvantage: Some time it fails in defining accurate results.
Primary: This type of research used by the researcher when they want to know about
company and effective way to improve the services which is offer by the company to its
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customers. This is possible by the feedback of the service users. The important aim to this type
of research is to gather more information in effective manner. Advantages – It provide reliable data and the exact information which is needed.
 Disadvantages – Involve huge cost and time.
Secondary: This research is also used by the researcher to collect information by using
various references as well as other library material. This method it defines the past results which
conduct by the various organization. Secondary research is more effective for current objectives
of the firm. Advantages – More data can be acquired in short period of time.
 Disadvantages – The collected information and data is not very reliable.
4.1 Techniques of assessing customer response
An organisation can adopt various types of techniques in order to register response of
customers. First they have make a customer response centre so they can gather reviews of
buyers. This work can be done by using following techniques: Home customers survey: It is also an effective technique in which business use home
customer’s servery in order to assess the customer’s expectation towards the products and
services. Basically it includes email survey, phone survey. With the help of this business
easily evaluate that how customers feel towards the services of the company. With the
help of this company gather customer’s response in order to improve their performance
of the company at market place. Customers service questionnaire: It is a brief survey in which company ask various
questions form customers about their issues of services. Basically, it includes customer’s
complaints, and experiences about the products and its problems. With the help of this
company get better assessment in which they easily understand customer’s preferences
which aid in handling all the complaints effectively.
 Face to face communication: It involves the process where customers and researcher
communicate face to face. This method helps in know their personal suggestions
regarding products and requirements. It is also important technique which provide better
way in which business easily improve their services as per customer’s suggestion. In this
company use suggestions forms which is made by the customers at the time of providing
them better services. Basically suggestion provide various opportunities to the company
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to improve their services and also provide them creative as well as quality services. With
the help of this firm improve their profitability level at market place.
 Application of online mode: One of the important method which has widest range in
comparison to other. It includes the use of social media sites and official websites by
M&S to know the views and opinions of customers. It easy for organisation is to interpret
information and attain the better results.
 Review their ratings: If the online mode used by the organisation, it provides the chance
to customers rate the services and quality of products. On the basis of such rating
organisation is able to determine the success. It helps in determination about the factors
regarding which they feel dissatisfied. It provides the opportunity to bring changes in
existing services.
2.4 Propose the marketing research plan to obtain the information in a given situation
Executive Summary
Marks and Spencer are mainly focused towards establishing a strong brand image which
helps in retaining loyal and satisfied customers, enhancing customer satisfaction, analysing needs
of customers related to current trend in fashion industry. The objectives play important role as
they provide a base to researcher so that they can carry out further research and investigation
properly and in right manner. This aim helps in to determine how to get customers back to
patronise in order to restore declining image of Marks and Spencer. They also facilitate
collection of information in right direction and help researcher to develop good questionnaires.
This will result in effective feedback by customers and they can easily analyse reviews of
participants. There is proper utilisation of all the financial and non-financial resources available
in the economy and the research can be effectively completed in approximately three to four
months.
Background
Marks and Spencer are a British retail fashion industry which is headquartered in London
and they are also listed in London stock exchange. The products of firms include clothing, home
and luxury food products. Market research is planned to achieve all objectives in appropriate
manner and it includes aspects and methods which are mentioned below:
Research aim and objectives:
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The main aim of project is to find out how to get customers back to patronise M & S
merchandise to restore its declining image. A case study on Marks and Spencer
Research Objectives
 To identify various ways by which firm can retain loyal customers?
 To analyse the need of acquiring customer Loyalty?
 To identify the impact of loyalty programmes on restoring declining image of business?
Research Questions
1. How to identify various ways by which firm can retain loyal customers?
2. What are the ways to analyse the need of acquiring customer Loyalty?
3. How to analyse impact of loyalty programmes on restoring declining image of business?
Marks and Spencer is trying to come up with unique products and services for acquiring the
attention of distinct customers. In fact, it helps an association to gain competitive advantage by
grabbing market opportunities as well as requisite to understand the strategy of other
competitors. Basically, company needs to make changes as per current trends, consumer choice
or preferences and so on. Along with this, modification in existing product is another strategy
which is used by Marks and Spencer for gaining customer loyalty and trust.
Research designs: This is a blue print of research study which helps in collecting and
analysing measures of variable specified in research problem. There are numerous types of
research designs which can be selected by researcher because it totally depends on the nature of
study. Current survey is carried out to explore the importance of working of technological
systems and operation of hotel. For this, investigator will choose descriptive research design.
This will help researcher to describe the characteristics of the population which are covered
under this study. There are mainly two types of research design one is known as descriptive and
other is Exploratory.
Exploratory research design is focused on getting a deep insight for the problem which is
faced by the researcher in order to get clear vision and they are classified under Non probabilistic
sampling while on the other side Descriptive research is based on exploring a group of people,
situation or individual person and this is classified under probabilistic sampling In the present
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research descriptive design have been used as they are beneficial in order to solve the problems
faced by the researcher.
Research Strategies: The main research strategy is Survey which is the method of collecting
information from customers to know the performance of Marks and Spencer’s and retain loyal
customers. Survey are having different purposes, and these can be carried out in many ways. The
information can be gathered with the help of questionnaire, personal mail and telephone.
Time Horizon: Cross Sectional time horizon indicates that data are gathered only once, and
these can be in the time duration of weeks, months to answer all the research questions. These
studies are carried out cross sections and are also named as one short
Data collection: This is also a process for collecting and gathering information from
different sources to make investigation more effective and reliable. There are two important
sources from where researcher can collect data and they are primary and secondary data
collection. Primary collection is again classified into two parts, qualitative and quantitative.
Qualitative method involves things that are non-quantifiable such as words, sounds, feelings,
emotions, etc. They involve greater level of understanding and this method mainly includes
interviews, questionnaire open ended questions, focus groups, etc. Questionaries’ is formulated
to know about the opinion of customers. Investigator has selected 30 participants of Mark and
Spencer and used questionnaire method to gather information. Researcher have used
Convenience sampling which is part of non-probabilistic sampling in which sample size is drawn
out from that part of population which is closer to hand and this sampling method is mainly used
in pilot testing.
Data analysis: Researcher develop different graphs and charts for interpretation and
analysis of information and from this they can analyse their data which was collected through
questioning 30 customers.
Reporting: After performing research in proper manner, researcher will compile own
work and convert all the findings into a report. This will help in effective analysis of research.
Cost and Time Table
The total cost involved for the completion of the project is 500 £ in which questionnaire
are also formulated for knowing opinion of customers.
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References
Johns, P. and Van Doren, D.C., 2010. Competitive intelligence in service marketing: A new
approach with practical application. Marketing Intelligence & Planning, 28(5), pp.551-
570.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Li, Y.M. and Li, T.Y., 2011, January. Deriving marketing intelligence over microblogs. In
System Sciences (HICSS), 2011 44th Hawaii International Conference on (pp. 1-10).
IEEE.
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4.2 Customer satisfaction survey
This survey is done on 50 people, most of them are either visiting store for first time or
second time.
Name:
Occupation:
Age:
Q1. What problems did you face at Mark and Spencer store?
Ans.
 Less clothing choice (20)
 Poor infrastructure (10)
 Poor service (20)
Q2. How much time you have to wait at billing counter?
Ans.
 Less than10 minutes (25)
 15 minutes (10)
 more than 20 min (15)
Q3. Do you easily get parking space in our merchandise?
Ans.
 Yes (20)
 No (30)
Q4. How was behaviour of our employees at store?
Ans.
 Impressive (20)
 It was OK (15)
 Intolerable (15)
Q5 Are you satisfied with our product and service?
Ans.
 Yes (15)
 Sometime (15)
 No (20)
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Q6 Do you get the desired customers satisfaction which you were expecting?
Ans.
 Yes (25)
 No (25)
Q7. Would you like to get a call from our side regarding your experience at our store?
Ans.
 Yes (20)
 No (30)
Q8. Are you satisfied with the support of our store staff?
Ans.
 Yes (35)
 No (15)
Q9. What rating will you give to our customer satisfaction team?
Ans.
 5 (20)
 4 (10)
 3 (10)
 2 or below two (10)
Q10. How can we improve the level of customer satisfaction?
Ans.
 By improving infrastructure (20)
 By recruiting more staff (15)
 By starting a service of home delivery of products. (15)
Interpretation: From the survey, it can be analysed that customer have problem relating
to various issues like wait line at billing counter and parking space. M&S need to improve their
infrastructure and recruit more employee so they can get decent level of customer satisfaction to
their employees. Majority of the customers do not want talk about their experience on the
telephone, they do not have any problem with staff members but out of 50, 15 participants think
that recruiting more personnel would be better for buyers. 20 candidates gave 5 rating to the
customer satisfaction team, this is good news for the mentioned company.
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4.3 Review the success of complete survey
Survey includes questionnaire which involves questions for maintain the relation with
customer satisfaction and opinions of customers about quality service and products of the firm. It
is necessary for organisation is to conduct survey which results in low performance and also
customer does not satisfy with company new goods or services. Marks and Spencer also gives
low quality based products in previous years which directly impact on the company growth or
success. Survey results require that firm should improve their strategies and methods for better
performance within an organisation. On the other hand, marks and Spencer adopt or use different
methods and techniques for assess certain information from customers. Market researches
includes searching and findings of organisation's market.
There are some factors which need to be determined as when receiving complete survey: Mode of data collection – Management is reviewing the survey which they have
completed so it is necessary for them is to analyse the mode of effectiveness where they
require to collect or gather necessary facts. Impact of fatigue survey – This is essential factor which show that firm require to
recognise major effect of survey on marketing so this will assist in developing effective
marketing strategies. Effect survey question wording – They require to write questions with right wording is
one of the complex section of developing surveys. Asking some questions does not stand
for complicated, but remember that gathering or collecting online data removing the
ability for describing additional information.
Reliability – This states that company need to analyse the reliability of facts or figures which
require to be collected so they will easily get actual or proper outcomes effectively. Marks and
Spencer require to maintain reliability regarding appropriate data and information in well
organised manner. Along with this, it is the ability and result of measurement, computation or
specification that can fully depended to be correct or accurate.
2.2 Identify the sources of secondary data relevant to achieve marketing objectives
With effective research, objectives of company has attracted clients and customers
towards them. Aim of Marks and Spencer is to attract customers in order to raise brand image of
company and this will ultimately increase organisational profits. Following are the internal and
external source of data:
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Internal source:
 Sales data : Researcher use past records and data of the organisation in order to know
about trends in market and possible fluctuations. Marks and Spencer have proper
recording of sales of the company of previous years which contains crucial information.
 Financial data : Company records all their financial transactions in order to know their
present financial situations. With this information, they can develop strategies which can
result in more profits in future. It also tells them about their financial performance in last
years.
External sources:
 Government statistics : These information are released by government officials and
other authorities in relation to organisation. These are refereed to as external source of
data.
 Commercial services : These service provide company with crucial information related
to market.
Below is the statistics which shows total global revenue of Marks and Spencer from
2010 to 2017. In 2016, the British retailer generated 10.5 billion British pounds in revenue both
in the UK and internationally (The Statistics Portal, 2017).
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2.3 To study the validity and reliability of market research findings
There are two market researches which includes secondary method that can be used for
providing accurate data and information for an organisation. Along with this, the credibility of
the firm can demonstrate within company's secondary data. On the other hand, primary research
is concerned as raw and it can be used for analysing desired outcome that are based on customer
survey and examination along with secondary data is the combination of scholars and talented
authors.
For conducting whole market research, it will help in evaluating and understanding that
Marks and Spencer is the largest retailing organisation which need to achieve desired success or
growth due to their appropriate developing strategies that can lead them in increasing promotion
of such retail market. The data and information can be gathered and collected by investigator
which is correct because this is used in both secondary and primary method of data collection
effectively. In addition to this, primary method includes questionnaire and interview which has
been taken for selecting 20 respondents within an enterprise. Another secondary data has been
gathering or collecting from different articles, journals and books of marketing. In fact, data is
very easy to accessible and also provides desired results which has been taken effective position
in the market that can be analysed.
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Along with this, validity is used for measure and evaluate finding of research for
understand that what a test think to measure. There are various ways which can investigating
validity of research finding that can be used in such: internal validity refers the effect and cause
relationship of learning and external validity define that findings are appropriate for common
people and people does not involved in this examination.
This is determined as adequate and effectual which includes accurate data of an
organisation. External data refers to conduct research on the far side of theoretical knowledge for
gathering or collecting required facts. Research provide real and actual results in favour of marks
and Spencer company and also help them in making positive image in the huge market place.
M&S require to evaluate and check that research is good or not, along with reliability of
market research has been done. Consistency of scores are considered by reliability of such
techniques and methods. This will assist in manufacturing appropriate outcomes. Validity is
basically used for determining the finding of research. It involves internal, external and content
validity can be used for evaluating the credibility of various methods.
TASK 3
Covered in PPT
TASK 4
From the above discussion I can summarized that in order to raise the total sale the
referred organisation is using effective strategies which are helping them in understanding the
behaviour of customer. When the market is known to the company than it become easy to plan
and deliver products to the same. I received feedback which further assist me in making
improvements in own products which further assist in making corrections that raises the long
term benefits. There are many buying behaviour theories are applied by me which helps to
understand about the behaviour of customers while purchasing the products and services. It
improves the internal strength of organisation to influence the behaviour of customers to build
strong relation with their customers.
CONCLUSION
From the above report, it can be concluded that marketing of a product is necessary in
order to determine its demand in market. It plays crucial role in decision making process. There
are various types of factors which can affect behaviour of buyers. Loyalty for a brand provide
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strength to an organisation because permanent customers provide sound base to an enterprise.
There are different kind of marketing research techniques which a firm can operate in their
business operation. A company can do various types of survey in order to determine customer’s
satisfaction so they can deliver the products and service according to the need of market.
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<http://www.businessnewsdaily.com/4697-market-intelligence.html>. [Accessed on 25th
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