Marketing Applications for Managers

This assignment delves into the practical applications of marketing principles for managers. It examines various aspects of marketing, such as brand innovation, its impact on brand loyalty, behavioral price research in business-to-business markets, and the influence of consumer psychology on purchase decisions. The analysis utilizes real-world examples and academic research to illustrate these concepts.

UNIT 17. MARKETING INTELLIGENCE
Table of Contents
Introduction ...................................................................................................................................3
Task 1 ...........................................................................................................................................3
Q1: Describing prime stages of process of making purchase decision for any individual
consumer [AC1.1]..........................................................................................................................3
Q2: Explaining theories on buyer’s behaviour in the context of individual markets [AC1.2]..........4
Q3: Explaining factors that affect behaviour of buyers [AC1.3].....................................................5
Q4: Evaluating relationship among brand loyalty, repeat purchase, and corporate image [AC1.4]
.......................................................................................................................................................5
Task 2 ...........................................................................................................................................6
Q5: Evaluating three kinds of market researching techniques used in market[AC2.1]..................6
Q6: Identifying and using sources of secondary data in order to pursue objectives of market
research [AC2.2]............................................................................................................................7
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Q7: Assessing reliability and validity of findings on market research [AC2.3]...............................8
Q8: Providing a report and proposing marketing researching plan to receive information [AC2.4]
.......................................................................................................................................................8
Task 3 .........................................................................................................................................10
Q9: Providing assessment about trends and size of fashion industry in the UK [AC3.1]............10
Q10: Planning and carrying out analysis of competitors and providing results of the plan [AC3.2]
.....................................................................................................................................................11
Task 4..........................................................................................................................................13
Q12: Producing a report evaluating techniques of analysing customer response [AC4.1]..........13
Q13: Designing and completing survey on customer satisfaction for new products and services
[AC4.2].........................................................................................................................................13
Q14: Reviewing success of completion of survey on customer satisfaction [AC4.3]..................15
Conclusion ..................................................................................................................................15
References..................................................................................................................................16
Appendix: Customer Purchases..................................................................................................18
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Introduction
Marketing intelligence could be defined as relevant information gathered as well as
analysed regarding company's markets in order to make prudent and accurate decisions of
determining market opportunity, metrics of market development and strategy regarding market
penetration. Precisely, a role of market intelligence lies within a gathering of vital information in
order to take business decisions. In order to extract market intelligence of any company, two
basic industries- Intelligence Company and market research are involved. The study serves the
purpose of illustrating the vitality of market intelligence in a company named Topshop, a women
clothing company currently operating worldwide headquartered in UK (www.topshop.com,
2016).
Task 1
Q1: Describing prime stages of process of making purchase decision for any individual
consumer [AC1.1]
As an assistant Brand Manager of Topshop, some key stages that can be recognised while make
decisions for the purchase of products by buyers, which could be evaluated as follows:
a) Recognition of need/problem:
This could be often recognised as the most important stage of purchase decision-making process.
The step enlightens that any purchase cannot occur without evaluation of one's needs and wants.
According to Sunaga et al. (2016, p.942), this need might be triggered through internal as well as
external stimuli.
b) A search of information:
After recognising the problem or the need, the next step or stage of any customer would be
searching relevant information about their feelings towards any product or commodity. It
requires a purchaser's effort to search for external or internal environments that might evaluate
and identify sources of information related to a key central purchasing decision.
c) Alternative evaluation:
According to this step, individuals or customers might evaluate several brands or products based
on various attributes which possess the ability to deliver benefits that customer did seek. As per
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the statements of Hong (2015, p.328), any factor that highly influences this stage must account
towards customer’s attitude.
d) Purchase decision:
This stage is to be considered as the penultimate stage where the actual purchase takes place.
This purchasing decision is highly fluctuated by two basic factors negative feedback received
from other customers and motivation level to accept such feedback.
e) Post-purchase attitude:
After purchasing any commodity, customers develop a tendency to compare products along with
their initial expectations that they used to have regarding the products. In words of Lantos (2015,
p.48), they will assess their own satisfaction level if they are dissatisfied or satisfied. This could
highly affect the next decision of purchases of the customers and could determine customer
retention.
Q2: Explaining theories on buyer’s behaviour in the context of individual markets [AC1.2]
Being the assistant Brand Manager of Topshop, buyer’s behaviour of products or commodities
could be illustrated by explaining two vital theories, which are as follows:
a) Generic Theory:
Several purchasing decisions of consumers could be explained through Generic model of making
decisions on the buyer's behalf. As per the explanations of the theory, a buyer could easily
identify a need to purchase any product, which would ultimately initiate pricing and product
research. According to the opinions of Monroe et al. (2015, p.20), consumer investigates and
gather relevant information on that particular commodity which is needed to be purchased about
benefits, characteristics and pricing.
Figure 1: Theories on Buyer’s behaviour
(Source: Iyer et al. 2015, p.12)
b) Cultural theory:
Being an assistant Brand Manager of Topshop, it could be stated that cultural influences can
highly influence the purchasing decisions of a buyer of any product. The culture of any person
determines the values and beliefs possessed by the individuals in terms of any community. In
views of Iyer et al. (2015, p.12), these beliefs and values like social class depending upon
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income, occupation and education can significantly influence the buying behaviour of
individuals. Even the opinion of leaders of a group of individuals planning to buy any product
may influence the purchasing decisions of buyers or purchasers.
Q3: Explaining factors that affect behaviour of buyers [AC1.3]
Consumer's buying behaviour is thoroughly influenced by major factors like social factors,
cultural factors, personal factors and psychological factors. Cultural factors include community
differences, religion, a culture of buyers and social class to which any purchaser would belong.
As per the statements of Gabbott and Hogg (2016, p.158), sub cultural factors include
geographic regions, religions, racial groups and nationalities. Social factors that influence the
buying or purchasing behaviour include family, reference groups, role and status of any
individual. The views and opinions of families, friends, and relatives necessarily motivate the
decisions of purchasers on a large basis. Personal factors that influence the buying behaviour of
individuals include occupation, age, economic or financial situation, lifestyle, and personality.
Psychological factors essentially involve perception, motivation, beliefs and attitudes of
individuals who decide or plan to purchase any particular product or commodity from the
company.
Q4: Evaluating relationship among brand loyalty, repeat purchase, and corporate image
[AC1.4]
A business is based on few concepts that help in deciding the strategies of a business
organisation. These strategies are involved in enhancing the business and profit maximization
through customer satisfaction from the business activities of the organisation. In order to
understand the relationship between the concepts of business proper definition of the concepts
must be known.
Brand loyalty: It is the concept that defines the tendency of customers to continue use or
buy a same product rather than paying attention towards other competing brands.
Repeat purchase: Repeat purchase is the concept that defines the purchasing of a same product of
the same brand by an individual or the customer repetitively. It is usually a measure of loyalty of
a customer towards a particular brand.
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Corporate image: It is commonly referred to as the reputation of an organisation.
Corporate image is what common public sees when a brand name if mentioned.
Being the assistant manager of Topshop, it is important to find out the relationship between the
three concepts of market demand. Brand loyalty refers to the loyalty of a customer towards a
particular brand. On the other hand, repeat purchase is the measure brand loyalty of the
customers. Professionals often use it as a tool to evaluate a business. On the other side, the
corporate image is the reputation of a business organisation that has been measured by the brand
loyalty and repeat purchase. Therefore, these three concepts are interrelated to each other which
helps in assessing the market position of a business organisation.
Task 2
Q5: Evaluating three kinds of market researching techniques used in market[AC2.1]
Relating to the case scenario and considering the company Topshop, it could be analysed
that there are several market research types including primary, secondary and qualitative as well
as quantitative market research techniques. Topshop could utilise few market research
techniques, which could be explained as follows:
a) Focus groups:
This market researching technique includes focus groups where moderators use a long
series of topics or questions, which are scripted that could lead a significant discussion among
groups of individuals. According to Johnson-Busbin et al. (2015, p.28), these sessions are held at
neutral locations usually where there are facilities of videotaping equipment and one-way mirror
observation room.
Figure 2: Market research techniques
(Source: Johnson-Busbin et al. 2015, p.28)
b) Surveys:
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It becomes much convenient to utilise straightforward and concise questionnaires in order
to analyse any sample group that might represent one's target. Surveys could be in-person
surveys, telephone surveys, online and mail surveys. The first one enables Topshop to provide
customers with product samples, advertising, and packaging in order to gather immediate and
on-spot feedback. Telephone surveys are less expensive than the previous ones and even are
effective but problems persist (Helm et al. 2015, p.521). Issues like customers denial on
responding through telephones for feedback and completing any survey arise in cases of
telemarketing. Emails and online surveys are highly effective and faster as they grab the
attention of customers on a large basis.
c) Observation and field trials:
Customers and their shopping patterns generally consider observation through
videotaping customers as a modern and advanced technique that might provide with an accurate
and appropriate picture of usage habits possessed. Field trials require placing any specific
product in chosen store in order to examine responses of customers under conditions of real life
selling purposes that can help the company Topshop to make modifications of a product, adjust
prices and develop or improve packaging (Thompson and Prendergast, 2015, p.217).
Q6: Identifying and using sources of secondary data in order to pursue objectives of
market research [AC2.2]
Various sources of secondary data could be utilised while achieving the goals or
objectives of the company Topshop that exercises in determining the role of marketing
intelligence (Agnihotri et al. 2016, p.173). Internal and external sources of data account for the
sources of secondary data, which can be categorised through their operations or functions.
Internal sources of data might include balance sheets of Topshop, profit and loss financial
statements, inventory records and previous studies based on market research. External sources
include government sources, corporate filings such as annual reports, trade, professional’s
business, and business, media that includes internet and broadcasting, foundations and so on.
Internal sources could be perfectly used for deriving the curves and graphs of marketing
intelligence of the company that depicts the overall business performance. As per the suggestions
of Habib et al. (2015, p.194), this could be done by reading out or assessing the financial
statements that hold the records of profits, losses, and revenues generated by the company
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Topshop. It could gather relevant information eventually through the external sources by
reviewing the feedbacks of customers through channels of media, internet, and emails. Financial
analysts could conveniently gather or collect data and information on evidence that could
collectively project the marketing intelligence of the company Topshop across the world.
Q7: Assessing reliability and validity of findings on market research [AC2.3]
Reliability could be considered as the measure of consistency about scores over a period.
As per the opinions of Lee et al. (2015, p.296), a reliability of research could be reliability across
time and reliability across samples. It could be deduced from the case study that Topshop has
gathered sufficient data on the reliability of customers on the products engaged in selling and
sampling purposes. They received effective and productive attention from the customers who
buy or purchase products from the company. Due to the presence of these reliabilities, the
company achieved its peak of success and growth.
Validity counts as an essential for the studies of market research as well just as the case
of reliability. Two basic types of validity could be categorised as internal and external validity
that could be illustrated as basic modes of validity for the company Topshop. Internal validity
shall be done to make sure that cause-effect relationship could be identified for its existence and
there shall not be any explanation for results. External validity could be received if the feedback
from any participant sample becomes true. Hence, these several modes could denote or detect the
validity of research regarding marketing intelligence of Topshop.
Q8: Providing a report and proposing marketing researching plan to receive information
[AC2.4]
To have an effective marketing research planning, it is important to fix the goals and
objectives of Topshop. Here, in the context of Topshop, it is important to have the STP analysis
of the market. If topshop want to strengthen our market approach with highly targeted this
process so that it help us to understand the marketplace in better way.
OBJECTIVE:-: When the Topshop is planning to launch their new product in the market,
it is the primary requirement to have a proper segmentation of the market to understand their
goals and objectives. In case of the new shoe that the Topshop is about to launch, it is the aim of
the organisation to target the youths in the market than preference is given to the choice of youth
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generation for this research is necessary because it is important to know about the budget and
purchasing capacity of customer for example Topshop fixed the price of each shoes is more than
3000 rs than this prize is not affordable by all customers and it causes loss to the business. So
that objective of topshop is purchase those products which are affordable for all class.
Therefore, the market segmentation is done depending on the demographic segmentation of the
consumers.
Targeting: While launching the new shoe in the market, the objective that has been set by
the organisation (Topshop) aims at reaching each and every youth with their new product.
However, according to the budget set by the organisation, they are aiming the representatives
with higher-class background and also middle class background. If prize of shoes is more than
3000 and quality is good than it will be purchase by high class and if prize of product is 3000 but
if any bargaining is done by middle class by seeing the quality of shoes than it is beneficial for
both business and consumer as well.
Positioning: The Topshop has made it their aim to position their new product amongst
the most important group of customers. According to the company hierarchy, it is the aim of the
organisation to position their newly launched product amidst of the high-quality taste of the new
consumers in the country.
To ensure that their goods have good reputation in the market, the Topshop conducted a
good market research both qualitative and quantitative to understand the demand of the
consumers, specially the new consumers.
Research techniques:- it is the main duty of topshoe to research on some factors those
are demand of consumer ,purchasing efficiency, their customes, their budget, which area like to
wear shoes more, etc.
Research analysis :- The data received was analysed broadly to find that the demand of
high quality shoes was high in the market. Topshop do analysis on its research by viewing to old
data so that it can be easy to identify the demand of consumer was in last year and now consumer
demanding for what? By comparing both analysis is done. After research topshop found that
demand of consumer and courage of wearing shoes is increased in society comparison to last
year and earning capacity of youth is also increased. Thus, according to the market demand, they
have brought up their new shoe.
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Task 3
Q9: Providing assessment about trends and size of fashion industry in the UK [AC3.1]
The fashion trend has changed worldwide in the present world. The trends of fashion not
only depend on the products available at only one part of the world. In addition, there is a
cultural mix found in the fashion trend in the market of UK. The market size, thus, has also
increased manifold to keep up with the market demand. Considering the size of the UK fashion
market, recently around 555,000 people are engaged in employment in the retail and clothing
industries. Around 75% of the total population of UK industry have been employed in the retail
industry of clothing (Fashionunited.uk 2016).
Thus, the worldwide demand in the fashion trend and new styling technique has
improved the employment condition in the market of UK. Far-reaching fashion retailers include
companies like New Look, Marks & Spencer, and Topshop as well Topman. These have been
considered giant retailers of clothing and accessories, which are observed to continuously expand
and outreach their market extension. As per the observations of Pappu and Quester (2016, p.12),
fashion trends and selling products and expenses depend on the purchases of customers. Trends
include western as well as traditional outfits or apparels that are produced keeping in mind about
factors like community, religion, racial factors and regional factors.
Due to such things, there is an increasing possibility of the business organisations to
increase in size. There is also an increasing possibility of the organisations to penetrate the
foreign market with less threat of high competition. Therefore, it also enhances the chance of
better interpretation of the foreign market. If we give contrast on the global textile and garment
industry in fashion than turnover of almost USD 3 trillion in 2011. if we take clothing, textile,
footwear,luxuray goods reached approximately $3,180 billion in 2015 from $2,5680 trillion in
2010 with a yearly growth rate is more than 4%
The trends and size of the fashion industry in the UK is much interesting to know about and
analyse to evaluate the fashion senses that people have and consume in order to look good. UK
fashion industry contribute 2% of GDP and now it increases 22% from 2009. online clothing
sales was up by 32% month on month in November in the UK, the largest spike between October
and November in 14 years. Fashion market expected to grow by 12 % in India, 10 % percent in
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china and 8 % in Russia from 2010 to 2025 and average 4% CAGR in the rest of world. It has
been eventually observed that about 8% of the population of UK are engaged in the employment
of wholesaling products or commodities, which include clothing as well as footwear.
(Refer to Appendix)
Q10: Planning and carrying out analysis of competitors and providing results of the plan
[AC3.2]
The competitor analysis refers to the identification of the competitors that a organisation has in
the market. The competitor analysis also includes evaluation of the strengths and weakness of the
competitive organisation and comparing the same with that of one’s own organisation. The main
goal of this analysis and strategies for conducting the analysis. The first goal of this analysis is to
determine the competitor and online procedure helps to identify your competitor.
Identification of the potential competitors: As per the analysis, it could be stated that
topmost competitors of Topshop have been NEXT PLC, H & M Hennes & Mauritz AB and
INDUSTRIA DE DISENO TEXTIL SA, which are forerunners in the retailing industry and
markets for clothing. During the preparation of a plan, financial analysts of the retail group
Arcadia must notify few elements like having a detailed investigation about a competition that is
currently prevailing in the market. To identify the competitor it is necessary to establish the
general set of action , carry out this application by action. the method is not only web based but
also desktop products.
Identifying the background, market and products,
brand and market share, strategies:- if the competition of topshoe is far superior, there is
two way to compete that is either try the same strategies as top competitor and follow that
strategies slowly to move on the top or you can try your strategies with your own creative and
innovative idea and you can reach on top with competitor or its level. It is easy process to know
the background, market and products etc.
Strength and weakness of the competitors: It is important to understand the strength and
weaknesses of the organisations that are at competition to identify own position in the market. As
found by the market analysis, the competitive organisations have been found to be very apt in
fulfilling the market demands. However, the weakness that has been found is that, the other
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companies in the market lags in defining the interest of the upcoming customers. That is the new
customers have a high demand that has not been fulfilled by the existing organisations. Thus, the
Topshop has introduced new features in their new products to penetrate the market.
As stated by Veloutsou (2015, p.411), an effective analysis plan must consider the
organisations or companies who are competitors of Topshop and their products that they are best
at manufacturing. A comprehensive plan for analysing competition in the retail industry is
necessary requisite since it develops an efficient understanding of the potential and existing
customers of Topshop. According to the suggestions of Su and Tsang (2015, p.1132), the
comprehensive plan would help to identify positively about competitor's weakness as well as
strength. An effective mechanism can be developed by implementing productive strategies of
competition in the target market. The analysis plan also requires salient analysis of competitor's
actions and skills in order to improvise its own production or manufacturing skills and abilities.
Q11: Providing evaluation of threats and opportunities for new products aiming at
consumers of UK [AC3.3]
Before or after production and selling of goods or commodities in the markets, there are
several threats and opportunities that could be evaluated based on the perceptions of the
consumers who would purchase the new products of the retail company. According to Feng et al.
(2015, p.19), opportunities include changing customer's taste and preferences that could be good
in the sense that whatever product or commodity the company would produce matches the taste
of customers. threats and opportunity is created by some changes which are use of unique
technology, s changes in the size of demographic composition, fads and fashion crazes, changes
in politics, policies and regulations.
Threats: The threats of the Topshop while launching their new products are few. As their
opponent or the competitive market partners are very potent in fulfilling the demands of their
customers, there have been many loyal customers to the existing brands. Therefore, penetrating
the market in the present scenario might be a bit difficult for the Topshop because it all depends
on consumer and market if any changes in consumer taste, shrinking in market, economic
downturns this all affect the topshop company indirectly. so that it is important to take care of
this all requirement of business.
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Opportunities: It includes technologies, availability of new material, market growth, new
uses of old product, location opportunities, positive changes in competitive environment etc.
While there is a presence of a lot of loyal customers of the competitive brands in the market,
there are many new customers who have difference in tastes. This can be taken as an opportunity
of the Topshop. The changing tastes of the customers can also be considered as an opportunity of
penetrating the current market. category of consumer also become opportunity for topshop
because if topshop segmented its consumer by their taste , religion and efficiency of buying it
gives benefit to overall business. The market survey has found that the besides having a lot of
existing loyal consumers of other brands, there are also a number of young customers that are
coming up in the market who could be aimed as the potential customers of Topshop.
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Task 4
Q12: Producing a report evaluating techniques of analysing customer response [AC4.1]
According to Homburg et al. (2015, p.2), there are ample techniques that could be
evaluated for analysing responses of customers or consumers. Among these techniques, the first
and the foremost technique include designing of a questionnaire that extracts potential and
rational feedback from customers of the company Topshop. As per the suggestions of Ziliani and
Ieva (2015, p.490), the second technique could include comment cards or complaint cards
prepared exclusively to receive feedback from customers. Questionnaires contain distinct or
distinguishing benefits since explicit questions can be set in the questionnaires for analysing
trends over time. Comment cards are equivalently productive in order to handle comments that
customers leave after every purchase of products from Topshop.
Q13: Designing and completing survey on customer satisfaction for new products and
services [AC4.2]
The questionnaire that has been designed in order to analyse perceptions and satisfaction
of customers who consume different products can be displayed as follows:
1. What is your age?
 15-20 years
 20-25 years
 25-30 years
 Above 30 years
2. In which income group do you belong?
 High
 Low
 Average
3. How often do you visit Topshop store?
 Weekly
 Monthly
 Yearly
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4. What influenced you to visit Topshop?
 Product qualities
 Promotions and offers
 Store appearance
 Customers’ service
5. Why do you prefer Topshop over other retail stores?
 Availability of brands
 Reasonable prices
 Offers and discounts
 Location or distance from home
6. What comes in your mind thinking about Topshop?
 Assortment
 Quality
 Promotions
7. How is the brand loyalty at Topshop?
 Excellent
 Good
 Average
 Bad
8. How much are you satisfied with the quality of products?
 Satisfied
 Dissatisfied
 Neutral
9. How much the after-sale service influenced you to visit Topshop?
 Very much
 Not at all
 Neutral
10. Are you satisfied with the promotions, offers, and discounts offered by Topshop?
 Yes
 No
11. What is the promotional source, which led you to visit Topshop?
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 Internet links
 Social networking sites
 Friends or relatives
12. What do you recommend about improving the services or product development?
 Providing offers or discounts considering seasonal influences
 Giving high offers on apparels like long gowns, high heels, and accessories
 Selling winter wears at lower rates
Q14: Reviewing success of completion of survey on customer satisfaction [AC4.3]
After completion of this survey based on customer satisfaction, it could be clearly
deduced that customers are highly satisfied with the after-sale services and promotion and
discounts offered by the company Topshop. People visit Topshop frequently for its varied range
of products or apparels following new trends. If any customer satisfy with the topshop company
than whom tell about this company to 22 other people. In 2017 the customer experience is 22 % .
according to WOW local marketing, 52% of customers are not satisfied with the company
because of bad mobile experience.
Brand loyalty has been marked as excellent and hence the company have won the trust of
many hearts and souls. Mainly the active internet links have been helpful for them to navigate
them to visit Topshop. Hence, surveying the entire team it could be depicted that Topshop had
reached almost its peak of success since the customers are largely satisfied even with the services
that are offered to customers depending on the conduct of the employees.
Conclusion
The study provides a detailed analysis of identifying and deriving marketing intelligence
about a specific company named Topshop. Various marketing techniques in order to pursue and
meet marketing goals have been efficiently portrayed through the study. Validity and reliability
of findings have been evaluated and identified in this study. The study also throws light upon
description regarding trends and fashion size while analysing market competition of this
company. After designing a questionnaire, the study has shown relevant reviews derived from
the answers given to the questionnaire by the customers of Topshop.
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Appendix: Customer Purchases
Figure 1: Customer Purchases
(Source: Pappu and Quester, 2016, p.24)
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