Unit 17 Marketing Intelligence Assignment Sainsbury
Added on 2020-01-16
18 Pages4350 Words148 Views
MARKETING INTELLIGENCE
Table of ContentsINTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................3A. Explaining the process of consumer buying decision-making.............................................................3B. Theories of buying behavior................................................................................................................4C. Different types of factors that influence buyers’ decisions.................................................................6D. Interrelationship between loyalty, repetitive buying & corporate reputation....................................7TASK 2..........................................................................................................................................................8A. Objectives/purpose of market research..............................................................................................8B. Techniques of market research...........................................................................................................8C. Importance of secondary investigation for carrying out a market research........................................9D. Reliability & validity.............................................................................................................................9E. Constructing a market research plan.................................................................................................10TASK 3........................................................................................................................................................11A. Trends & size of the market..............................................................................................................11B. Key competitor of the business & its analysis....................................................................................12C. SWOT framework for identifying opportunities & threats................................................................13TASK 4........................................................................................................................................................14A. Different types of methods to evaluate buyer responses.................................................................14B. Carrying out a satisfaction survey......................................................................................................14C. Reviewing & analyzing the success of the survey..............................................................................15CONCLUSION.............................................................................................................................................16REFERENCES..............................................................................................................................................17
INTRODUCTION Now-a-days, marketing became one of the most imperative integral facets of theorganization that greatly assists corporations to drive competitive success. Marketing managerplays a major role in this that makes rational advertisement & promotional decisions aftersurveying the target audiences to determine their preferences, attitude & choices, calledmarketing intelligence. Sainsbury is the second largest supermarket chain of UK and a publiclimited company founded in the year 1869.The aim of the present assignment is to emphasizesupon creating the best marketing plan for Sainsbury through a thorough and in-depthexamination of the target audiences buying behavior, influencing factors & satisfaction survey.This will enable Sainsbury to maximize competitive position in the marketplace. TASK 1A. Explaining the process of consumer buying decision-makingPerception of need/Need recognition: Inaugural stage is a process of awareness of unmetdesires, needs & wants. Human needs are unlimited and continuous; therefore, before buying anyproduct, they first determine that what they want (Lysonski and Durvasula, 2013). It is importantfor the Marketing Manager of Sainsbury because audience can be satisfied by delivering goodsas per their need such as freshest grocery items. Information searching: User or buyer identify sources from where they can buy items orservices to satisfy their determined need. Here, the focus of marketing manager is to publish oradvertise their grocery product where customer can easily communicated like social mediamarketing, mobile-apps & website as well. Evaluation of alternatives: After it, consumer evaluates the items on the basis of productquality, price, convenient availability & many others (Natarajan, Soundararajan and Jayakrishnan,2013). Therefore, it is necessary for the Sainsbury to give healthier and nutritional quality fooditems at economical charges. Moreover, its convention & supermarket stores are located atconvenient places & innovative and unique promotional campaign is also of equal importance.
Purchase decision: Here, if Sainsbury’s offered goods is considered as of the mosteffective quality at reasonable charges via unique marketing, then finally, customer choose thesame & purchase it. Post-purchase evaluation: Finally, product user match their expectation with thesatisfaction level & if buyer’s desires have been met appropriately or with very little deviation,then Sainsbury’s customer will be definitely encourage buying the same brand again in future. B. Theories of buying behavior Buyer behavior theories describe or explain that how an audience behave or make buyingdecisions in different situations, narrated hereunder:Cognitive dissonance theory: This model states that user’s buying behavior can bechanged due to many forces such as belief, opinion & attitude. Here, dissonance i.e. conflictingbeliefs needs to be eliminated to improve consistency so that they will surely buy Sainsbury’sgoods (Chung, Song and Lee, 2017). For instance, a person prefers healthier quality grocery itemsbut he or she is confused about the product, then in such situation, sales personnel needs toinfluence buyer and explain the quality of the item to convince them. Diffusion of innovation model: This theory states that each & every goods tends to movethrough a cyclical chain, i.e. introduction, growth, maturity & decline/diffused. Therefore,innovation seems important to retain consumers. In the presented diagram, the highest pointstates 100% saturation and afterwards, the utility of the items will be definitely goes down(Horner and Swarbrooke, 2016). Therefore, Sainsbury’s marketing manager needs to keep focusover the satisfaction level of the user, and at maximum satisfaction, they must introduce a newproduct with high nutrition. Howard Sheth model:
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