Marketing Intelligence Report: Market Research & Topshop Analysis

This report provides a comprehensive analysis of marketing intelligence, focusing on the case study of Topshop, a women's fashion retail company. It delves into the stages of the purchase decision-making process, highlighting the importance of understanding buyer behavior and the various factors that influence it, including cultural, social, and personal elements. The report also explores the relationship between brand loyalty, corporate image, and repeat purchases, emphasizing their interconnectedness. Furthermore, it outlines different market research techniques, such as quantitative, qualitative, and secondary market research, and discusses their application in understanding market trends and consumer preferences. The report includes competitor analysis of Topshop, assessment of opportunities and threats for new product launches, and techniques for assessing customer response through surveys, with a focus on customer satisfaction. The report concludes by summarizing the key findings and implications for Topshop's marketing strategies.

Marketing Intelligence

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1 – A Market Research Techniques Report..........................................................................1
1.1 Stages of purchase decision making process....................................................................1
1.2 Importance of understanding buyer behavior and theories..............................................3
1.3 Factors that affects the buyer behavior.............................................................................4
1.4 The relationship between brand loyalty, corporate image and repeat purchase...............5
2.1 Different market research techniques...............................................................................6
2.2 / 2.3 Identification and use of secondary data..................................................................8
TASK 2 - Marketing research plans................................................................................................9
2.4 Marketing research plan to obtain information................................................................9
3.1 Assessing the size and the trends for the fashion industry in UK..................................11
3.2 Competitor analysis of Topshop company.....................................................................12
3.3 Opportunities and threats for the new product launch....................................................14
4.1 Techniques for assessing customer response.................................................................15
4.2 Customer's satisfaction Survey.......................................................................................15
4.3 Reviewing the success of Customer satisfaction survey................................................17
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Marketing intelligence is defined as an information applicable to an organization's
business, these information are collected and identified particularly for the purpose of clear and
correct decision making while deciding the opportunities in market (Murray and Carter, 2005).
This report is based upon case scenario of Topshop Company. This company is a retail
organization and possesses business in women fashion market. This report will help to
understand the purchase decision making process and market research techniques to develop
marketing plan.
TASK 1 – A Market Research Techniques Report
1.1 Stages of purchase decision making process
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Illustration 1: Stages of buyer decision making
Source: Marketing & Buyer Behaviour - the Decision-Making Process, 2015.

The buyer's of Topshop will go through various stages, while making purchase decision.
These stages are as follows, Need recognition: The first step of purchase decision making process is need
recognition. If buyer do not need, then they would not purchase (Pühringer and Taylor,
2008). This situation occur when there is a delay between customers actual situation and
desires. For instance, a person who buys a bottle of water has identified the need as thirst.
Similarly, a person who buys fashionable cloths has identified the need of fashion trend. Information search: After need recognition the next stage affects the buyer decision
making process is information of the need. When the need is known the customer wants
the information about possible solutions of the need recognition. The buyer would search
information depending on the quality of choices and the level of involvement. This
information can be collected from internal and external sources. Internal sources of
information is the consumer's memory and comes from experiences. On the other hand,
external information on a product is collected through friends, family and review by
customers who have used that particular product. Evaluation of alternatives: Later when the relevant information is collected, the
customer would be able to evaluate the various alternatives that is offered to them.
Customers would evaluate the most suitable and effective offers for their need and
choose the best among them. For effective decision making buyers can evaluate their
alternatives with two aspects. The objective diagnostic like features and functions of the
product and subjective information perception and perceived value of the brand. Purchase decision: Once the customers evaluated the various offers and solutions for
their need. They will be capable to select the product that is most appropriate for their
need (Le Bon and Merunka, 2006). This process leads them for actual purchase itself.
This decision is completely depends on the informations and evaluation of alternatives.
 Post purchase behavior: Afterwards, when the product is purchased and utilized. The
customer will evaluate the satisfactory level with their original needs. This post purchase
behavior involves the behavior such as whether the choice of buying a product was right
or not. It is based on a sense of satisfaction for the product and on the contrary, due to
short of expectations consumer may feel disappointed.
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1.2 Importance of understanding buyer behavior and theories
Understanding the buyer's purchase behavior is important factor that helps a business to
be successful. Without having knowledge about buyer behavior, it could be difficult for gaining
more customers. Purchase decisions of customers are based on an emotional of rational reasons.
Theories for individual buyer behavior are as follows, Generic theory of buyer behavior: Generic model for decision making is considered for
many purchases. In this theory buyer will realize a need to make a purchase decision and
initiate for research on product details and pricing (Pühringer and Taylor, 2008). For
Instance, At the time of making a decision for buying cloths at Topshops, individuals
may depend on the current fashion, their comfort level and the price of the cloths at
Topshops and other stores as well. The customer would investigate about the various
fashion trends in the market, evaluate their prices, benefits and then make a decision for
purchase. In generic theory of buyer behavior, what customer feel about the product after
the purchase is also considered. If customer is satisfied with the product of Topshop, they
will be more likely to purchase from Topshop in future as well.
 Cultural theory of buying behavior: Further, Cultural theory of buying behavior is based
on the cultural influences of the individual. An individual's culture is set of values and
beliefs they learned from their community. These values and beliefs affects the buying
behavior of the consumers (Zineldin, 2004). As per this theory consumers are influenced
by their social class, occupation, income and education for making a buying decision.
Thereby, Being a assistant brand manager at Topshops, I would consider cultural
influences of the people and keep the cloths and accessories according to the culture.
More often, it has been noticed that leader of particular community or social group
influence the buyer behavior of people because of specialized knowledge and personality.
Hence, it has been concluded that understanding the buyer behavior is very important in
order to establish a successful business enterprise. Buyer behavior can be understand with the
help of various theories and methods. Here, Topshop can take the assistance of generic theory of
buyer behavior and cultural theory of buyer behavior.
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1.3 Factors that affects the buyer behavior
Illustration 2: Factors that affects buyer behavior
(Source: FACTORS IMPACTING CONSUMER BUYING BEHAVIOR, 2015)
There are various factors that affects the buyer behavior. Some of them are as follows, Cultural Factors: Cultural factors plays crucial role in affecting buyer behavior. Cultural
factors are based on the various factors related to culture and cultural environment of the
consumer. For instance, some customers can be influenced by their family members,
friends and peer members. While some consumers may be influenced by the environment
of society. For a brand like Topshops, it is very important to understand and consider the
cultural factors that affects the clothing retail. Social factors: Furthermore, Social factors also affects buyer behavior significantly.
Social factors can be divided into three categories. Such as, family, reference groups and
social roles and status. The reference groups are mostly related to a social origin, place,
work hobbies and age etc. that influence the buyer behavior (Hurley, 2015). After
reference groups family is most important factor of influencing buyer behavior. Family of
an individual form an environment of socialization that influence them to shape their
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personality. Moreover, Social roles and status are based on the position of an individual
within work, family and group of friends that mainly affects the buyer behavior.
 Personal Factors: Moreover, In Personal factors the buyers decisions are influenced by
age and way of life, revenue and purchasing power, lifestyle, and personality concepts
etc. these are the personal factors that affects the buyer behavior. Age and life cycle have
the potential to make impact on buyer behavior. It is obvious that customer change the
choice of product and services after a passage of time. Similarly, lifestyle of customer
depicts the way an individual lives in a society and surroundings. Thus, lifestyle of the
person make huge impact on the buyer behavior.
Hence, it has been concluded that cultural, social and personal factors highly affects the
buyer behavior. Thus, Topshop should analyze and consider all these factors before developing
the women clothing range.
1.4 The relationship between brand loyalty, corporate image and repeat purchase
Topshop is a fashion emporium that provides cutting edge style with affordable prices.
The brand reputation of Topshops is strong among the customers. Therefore, the firm always
wants to build up strong relationship with customers by providing them latest and exclusive
products (Glance, Hurst and et. al. 2005). Brand loyalty refers to the faithfulness of customers
for a particular brand. Topshops has created effective brand image between consumers as
compared to other brands. Thereby, the brand conscious customers would not switch towards
other brands easily. Furthermore, the corporate image of the firm in the minds of people,
involving public and corporations affects by organization's policies, practices and operations.
However, the relationship between brand loyalty, corporate image and repeat purchasing highly
depends on their positive impact on people. Since, The Firm has many repeated celebrity
customers and boutique houses that defines the brand loyalty of these people with corporate
image which influence the repeat purchase of these buyers. Still, Topshop makes attempt to
make a certain image of the brand in the various markets where it wants to sustain and develop
so that customers can also attracts towards them. Repeat purchase will present in Topshop only
when customer will buy the product first time from the cited organization and satisfied with the
quality and prefer to purchase again from Topshop's. Thus, the three concepts brand loyalty,
corporate image and repeat purchase are interrelated with each another. Topshop implements
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several effective marketing techniques to build a favorable corporate image in customers minds
which will help in repeat purchase and create a brand loyalty.
Hence, it has been concluded that there is a strong interrelation between brand loyalty,
corporate image and repeat purchase of customers. If Topshop improves its corporate image than
it will make impact on customers and cited firm will attain the brand loyalty from its customers.
Further, it will also help in repeat customers which will increase the sales and profitability of the
organization.
2.1 Different market research techniques
Market research is based on the activity of collecting information about customers needs
and preferences. Market research is important for a business to be successful (Jones, Clarke-Hill,
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Illustration 3: Marketing research techniques
(Source: Marketing research ch 5, 2015)

Comfort and Hillier, 2008). Market research provides the information about various market
factors such as market size, sales revenue, market segmentation, demand and supply scenario etc.
moreover, it helps in identifying the potential customers, their needs and behavior patterns. The
Market research techniques that Topshops can utilize is as follows, Quantitative Research Techniques: This technique is based on a research method that
mainly based on the strong facts and statistical data instead of feeling and opinions of the
customers. As per this research technique Topshop can use exit surveys, on-site field
work, shopping bag survey and questionnaires for market research (Lee, 2008).
Quantitative market research techniques can be helpful in forecasting the market
demands and supplies. This technique basically uses a structured questionnaire with close
questions and customers select the answers from the options provided by the
organization. These questions measure the importance or satisfaction from the products
and services, customers preferences etc. Qualitative Research Techniques: Furthermore, Qualitative market research technique
include research method that is based on the opinions and the feeling of the customers
regarding the products. In qualitative research technique Topshops can use personal
interviews of individuals, surveys and can focus in a specific market segment. This is the
most effective research technique to create brand loyalty and retaining the consumers.
Qualitative research uses a semi structured discussion to make sure that all the important
topics of the organization has been covered and the discussion is relevant. Through this
technique Topshop can explore the customers reaction for the products, design features,
printed material etc. from the consumers and helps in generating new concepts with more
efficiency and effectiveness.
 Secondary Market Research: Moreover, This technique does not collect information
from its own sources but depends on already available information from various sources
(Priporas, Gatsoris and Zacharis, 2005). Secondary market research techniques includes
the information from news papers, magazines, internet and government data etc. The only
advantage of this research technique that it is cost and time effective. Secondary market
research technique provides information based on facts and overview of market.
However, the only drawback of secondary market research technique is the firm cannot
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collect the enough information required for their objectives. In this case Topshop will
have to conduct their own research.
Hence, it has been concluded that through using these market research techniques
Topshop can conduct successful marketing campaigns and promotional activities which will
helps the cited organization to get ahead from the competitors.
2.2 / 2.3 Identification and use of secondary data
Secondary data is an information that is already collected by someone else and available
for use from other sources. This kind of data costs very low and instantly procurable. For
instance, Secondary data for Topshops can be the data that is collected on customers for
feedback and suggestions. The marketing research objectives of Topshops are as follows, To attract more customers: The main market research objective of Topshops is to attract
more customers. Thereby, the firm collects the information from various sources and
implement the promotion strategies accordingly (Wilson, 2011). However, to attract more
customers Topshops can use secondary data sources such as, news papers, magazines and
internet etc. the firm can also use many promotional activities on these secondary data
sources to achieve these objectives.
 To create effective brand loyalty: Topshop is well reputed fashion retail firm. Thus, the
brand image and brand loyalty is essential to retain the customers. However, the firm
adopts various market research strategies to create effective brand image of Topshops.
Brand loyalty would encourage the repeated purchase and helps in attracting more new
customers (Gladson Nwokah and Ahiauzu, 2009). Moreover, Topshops can use various
secondary data sources such as customer feedback, suggestions, previous customer list to
create brand loyalty among customers.
The limitations in market research is based on two main factors. These are as follows, Time: Market research is primarily based on the limitations of time. Time is an important
factor that affects the market research activity of any organization.
 Finance: Further, insufficient finance highly affects the market research activity. If the
firm do not have sufficient finance than collecting information from various sources
could be difficult (Kinra, 2006).
Secondary aspect of data collection can be quite difficult for research worker. However,
validity of data is based on the research that is actually calculating. Thereby, it is effective way
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to know the research that was undertaken and the importance of that particular data. Secondary
data can be large scale survey or data collection as concern of personal research. The draw back
of secondary data is revolved around expected harm to individual subjects and problems of
return from consent. Secondary data is different in terms of information identified.
Moreover, the reliability of data is primarily concerned with generating regular results. For
instance, if Topshops is having two research workers questions from the same people from a
database and responses and replies are similar to each other than data reliability can measured.
Hence, it has been concluded that identification and effective use of secondary data is
essential in order to achieve the goals and objectives of the cited firm. Here, marketing
objectives of Topshop are to attract more customers and to create effective brand loyalty.
However, to achieve these marketing objectives Topshop has some limitations as well. These
limitations are time and sufficient finance to operate and collect information through secondary
data.
TASK 2 - Marketing research plans
2.4 Marketing research plan to obtain information
This proposal is based on the title of analyzing the impact of different promotional means
on the sales of the company “On a case study of Topshops”.
Background
Selection of effective promotional means is important for any organization to be
successful. Effective promotional means not only helps in attracting new customers but it also
helps in creating brand image among the people (Malhotra, 2008). Sales promotion is important
element of any company's marketing communication strategies. It is implemented by various
promotional means such as advertising, public relations and personal selling.
Rational
The main issue for the firm is to select the effective promotional mean. Through the
selection of effective promotional mean the firm can efficiently communicate with the target
customer segment. For instance, newspaper advertisement and television advertisement can
attract more number of customers (Shoham, Rose and Kropp, 2005). Thereby, it is very
important to select the effective promotional means.
Objective of research
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“The main aim of the research is to analyzing the impact of different promotional means
on the sales of the company.”
On the basis of given aim, following objectives are framed.
 To identify different type of promotional means used within retail industry.
 To analyze the impact that different promotional means has on a sales of Topshops. To recommend the other ways for improving the sales of Topshops.
Methodology section covering among others, qualitative and quantitative techniques
Following are the methods to collect the data for research. Qualitative Techniques: Qualitative research technique is type of scientific research that
consist of questionnaires. For the present study the data will be collected by interviews,
group discussions and questionnaires etc. Qualitative data provides more effective and
relevant data and provides in-depth information (Jones, Clarke-Hill, Comfort and Hillier,
2008). Quantitative Techniques: The quantitative research technique provide the numerical data
and they are analyzed by statistical methods. For the purpose of present study the sources
of Quantitative data are surveys, observations and secondary data such as firm's accounts,
books and journals will be beneficial.
Data analysis section
From the research conducted it is identified that social media attracts larger customers. In
the research report questionnaires it is identified that people are more attracted by the social
media sites such as Facebook and tweeter. In questionnaire some people answered that
newspaper and television advertisement also attract the huge number of customers (Gladson
Nwokah and Ahiauzu, 2009).
Time-frame within which you want the research conducted
Activity 1st
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Project Planning
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