Marketing Plan- Assignment
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Added on 2020-02-05
Marketing Plan- Assignment
Added on 2020-02-05
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MARKETING INTELLIGENCE1
Table of ContentsIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3a) Main stages of purchase decision-making process......................................................................3b) Buyer behaviour models..............................................................................................................4c) Factors affecting buyer behaviour...............................................................................................5d) Defining and evaluating relationship between the terms brand loyalty, corporate image andrepeat purchasing.............................................................................................................................7Task 2: (LO2)..................................................................................................................................72.1 Evaluating different types for techniques of market research...................................................72.2 Secondary data sources for achieving objectives related to market research............................82.3 Findings of reliable market research and its validity for Mark and Spencers...........................82.4 Plan of market research for Mark and Spencers........................................................................9Task 3: (LO3)..................................................................................................................................93.1 Size of market trend within the United Kingdom......................................................................93.2 Plan for competitive analysis for Mark and Spencers.............................................................103.3 Evaluation of opportunities and threat for women wear product and after sale services........12Task 4 (LO4)..................................................................................................................................134.1 Evaluation of customer response assessing techniques within Mark and Spencers................134.2 Customer satisfaction survey designs and facilitation.............................................................134.3 Reviewing the completed survey success within Mark and Spencers.....................................15Conclusion.....................................................................................................................................15References......................................................................................................................................162
IntroductionThe marketing plan is a very important phase of managing marketing. The plan is a conciseblueprint that outlines the future marketing activities and thus set up certain and specificmarketing strategies that need to be accomplished within a given time frame. Making a planhelps in organising the activities and clarifies the steps and actions that need to be taken in orderto achieve the drawn-out plan. This assignment also helps in identifying the various aspects thatare necessary to take into consideration while designing a marketing plan such as consumerbehaviour, company forecast and finance budget by conducting the situational and competitiveanalysis.Task 1a) Main stages of purchase decision-making process The main objective of any organisation’s marketing is to get inside the head of the consumers soas to understand what they need. In order to figure this, marketing managers need to take intoconsideration the five main stages of buying decision process.Identifying the problemThe consumers have a perpetual need to besatisfied. Determining what these targetconsumers what can be ideal for advertising aproduct in order to influence the consumerdecision-making process.Search processIn order to satisfy the want, consumers searchinformation about the products which cansatisfy their demands. This search process isdriven by experience, recommendations andreviews for the product.Comparing and evaluating the alternativesThe current market is flooded withalternatives. In order to purchase acommodity, a consumer compares andevaluates the specifications as well as theprices of these alternatives before taking a3
decision.SelectionAfter evaluation and comparison, a consumerzeroes down on a product which seemssuitable to suffice their need. At the sametime, they also identify the location fromwhere they can buy the product or service.Evaluating decisionOnce the buying process is over, theconsumers evaluate the appropriateness of theproduct and whether it meets theirexpectations.Table 1: The five stages of purchase decision-making process(Source: Business2community.com, 2013)b) Buyer behaviour modelsComplex buying modelThis type of buyer behaviour is characterisedby the high-value purchasing capability of abuyer. The consumers undertake in-depthresearch in terms of understanding theproduct and its specifications before thepurchase is made and hence is termed as acomplex buying behaviour.Habitual buying modelThis kind of buying behaviour is based on thehabits of the individuals and this cannot beconsidered as a complex model. Theconsumers are drawn towards the productswhich they have become habitual andaccustomed to using.Variety seeking modelThis is a fairly whimsical model of buyingbehaviour that is shown by the customers. theconsumers are individuals who shop aroundfor fun and variety. They experiment with theshopping routine and are not bound by habits.4
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