Marketing Intelligence and Consumer Behavior Report for Next plc

This report provides a comprehensive analysis of Next plc's marketing intelligence, focusing on consumer behavior, market research techniques, and strategic planning. The introduction highlights the significance of marketing intelligence in decision-making and its application within the retail industry, specifically Next plc. The report delves into the process of purchase decision-making, explores the factors influencing consumer behavior, and examines the relationship between brand loyalty, corporate image, and repeat purchasing. It then discusses various market research techniques, sources of secondary data, and the validity and reliability of market research findings, including the development of a market research plan. The report also includes a market analysis of Next plc, assessing its market size, trends, competitor analysis, and identification of opportunities and threats. Furthermore, it explores methods for gaining customer response and evaluates the effectiveness of customer satisfaction surveys. The conclusion summarizes key findings and offers insights into enhancing Next plc's marketing strategies. The report is a valuable resource for understanding marketing intelligence and its practical application in the retail sector.

Marketing Intelligence
1

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Process of purchase decision making....................................................................................3
1.2 Significance and theories of consumer behavior...................................................................4
1.3 Factors affecting consumer behavior.....................................................................................5
1.4 Relationship between brand loyalty, corporate image and repeat purchasing.......................6
TASK 2............................................................................................................................................7
2.1 Different kinds market research techniques...........................................................................7
2.2 Sources of secondary data to achieve marketing objectives..................................................8
2.3 Validity and reliability of market research findings..............................................................8
2.4 Market research plan to gain information..............................................................................9
TASK 3............................................................................................................................................9
3.1 Market size and trend of Next plc..........................................................................................9
3.2 Competitor analysis for Next plc.........................................................................................10
3.3 Opportunities and threats of Next plc and its product service.............................................11
TASK 4..........................................................................................................................................11
4.1 Methods to gain customer response.....................................................................................11
4.2 Customer satisfaction survey...............................................................................................11
4.3 Evaluation of survey method...............................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCE.................................................................................................................................14
2

INTRODUCTION
Marketing intelligence considers as a strategy for development of market remains helpful
for accurate decision-making process. Therefore, it is an integrated concept of determining
market research and collecting proper information to make strategic plans to gain customer
satisfaction. The present report is on the basis of marketing intelligent software of Next Plc retail
industry of UK. It is one of the widest public limited company facilitate clothing, footwear and
home products to large quantity customers in UK as well international market. Moreover, the
entity has employed around 4,000 employees to gain good quality of work. Including this, the
prsent report is able to express buyer behavior and relationship between brand and firm's
effectiveness. Different kinds of marketing research techniques and further planning process has
been understood here. In adition to this, customer satisfaction and competitor analysis can be
obtained. Recognition of competition and product value sustainability plans are able to explain
here.
TASK 1
1.1 Process of purchase decision making
Next Plc makes decision to gain customer satisfaction at maximum level with highest
level of profit earnings. As an assistance Brand Manager of the retail industry, determination of
buyer behvior is done through different steps. Further, decision-making process approaches to
gain efficiency and long term stability of entity for firm's goods and services. Need recognition or perception:- At first, Next plc determines need of customers
through market research. It processes by primary and secondary data collection. Further,
it leads to prepare plans for further activity. As per the case, company is focusing to get
consumer perception towards products as well analyses to create changes in production
supplement systems. Collection of information:- Identification of market research steps forwarded to collect
data for business strategy (Cacciolatti and Fearne, 2013). It is beneficial to analyse
clothing and footwear position in market as similar leads to strength potential in global
market for effectiveness of organisation.
3

 Evaluation of alternatives:- Collected information generate idea to evaluate different
alternatives for expansion of retail industry (Fornell and et.al., 2016). Therefore,
managers of Next plc put various options to reach out the target. Furthermore, proper
recognition of alternatives is able to choose best strategy for industry's efficiency. Selection of best strategy:- Above mentioned process is forwarded to select adequate
management system for optimum utilization of footwears and clothing goods including
home products. Thus, perfect strategic decision-making process is obtained to achieve
high quality performance of the organisation.
 Analysis of decision:- At last Next plc proceed to recognise decision and implementation
of activities (He, Fataliyev and Wang, 2013). However, effective buyer decision-making
procees indicates to be suceed. Further, systematic strategic are to be followed by firm to
accomplish the task.
1.2 Significance and theories of consumer behavior
Next plc identifies customer behavior through different stages, which remains helpful to
generate idea to satisfy them with services. It is beneficial for systematic production and
profitability growth of the firm. Moreover, company follows management process by analysing
buyer interest considers as agreat technique to offer and advertise goods. Including this, retail
industry increases ability to face competition by getting highest satisfaction from its consumers.
The approach leads to maintain and sustain items' value for long term through establishing good
relationship with users (Malaval, Bénaroya and Aflalo, 2014).
Theories of buying behavior:- The retail industry applies several theories to observe
buyers' insterest and perception towards products. Some of them the main theories involves
Generic theory and cultural theory of buying behavior. Generic theory of buying behavior:- Purchasing behavior of customers investigates
through generic theory (Nunan and Domenico, 2013). It includes decision-making
process of buyers that what kind of features and facilities they need to be required for
shopping. Further, products characteristics and presenting manner attracts them or not is
also identifies. Moreover, price determination of goods is favourable or unfavorable
remains able to determined. Therefore, theory helps Next plc to gain knowledge
regarding purchasing behavior of customers.
4

 Cultural theory of purchasing behavior:- Culture effects to predict users belief and
value towards products and services provided by Next plc. Different countries people
have different culture and lifestyles, economic conditions (Martinaityte, Sacramento and
Aryee, 2015). In this regard, it influences marketing approach of retail industry and
provides strong concept for business activities like production, promotion and evaluation
of service value for transaction of goods globally. Thus, culture theory is able to indentify
user's attitude and peception to market value of footwears for various people as per
demographic factor segmentation.
1.3 Factors affecting consumer behavior
Next plc determines customer behavior by analysing various environmental factors. On
the basis of which retail industry expand business organisation as well create effective strategic
planning to research market position same as provides idea for optimum utilization of clothing,
footwears and different retail company's products.
 Personal factors:- Company analyses atmosphere of behavior is strongly influenced by
the member of a family (O'Leary, 2013). Therefore marketers are trying to find the roles
and influence of the husband, wife and children. If the buying decision of a particular
product is influenced by wife then the marketers will try to target the women in their
advertisement.
Identification of market in accordance to age, economic profile, lifestyles and personality of
individual user at global level (Shani and Chalasani, 2013). Further, entity prepares decision
making strategy through segment various age groups, occupation which presents financial
standard of buyer. Including this, industry gains knowledge related to person's choice and
personality that which quality of product attract them at high level. Psychlogical factors:- These environmental factors includes attitude, perception and
encouragement of buyers related to Next plc services. Under this factors, biological needs
and social needs are to be recognised to collect data and preparing records (Sorescu and
Sorescu, 2016). Hence, proper identification of these factors creates idea to produce and
promote tengible as well intangible goods of the firm. Social environmental factors:- It involves family, organisational group and social role as
well status of users. However, societies and communities opinion attractive factors are to
5

be analysed. Including this, attraction towards brand of footwears and different items to
be recognised involving color choices and various brand selection systematically (Trainor
and et.al., 2013). Thus, brand recognition is to be observed through social factors
worldwide to gain consumer behavior.
 Cultural factors:- There are different cultures follows by different nations internationally
(Williams, 2014). Therefore, proper identification of sevearl cultures provides direction
to produce and supplement Next plc services. Moreover, these factors impact business
environment of the organisation to present efficiency and effectiveness of products in
positive as well as negative ways. Therefore, customer behavior and interest towards
products is determined by focusing on cultural business environmental factors.
1.4 Relationship between brand loyalty, corporate image and repeat purchasing
product including its features. As per good qualities of items customer demand for
services and increases value of products. Moreover, some users demand for Next plc goods
indicates trust worthy and considers as loyal for brand. This activity considers as brand loyalty.
In the process, users constantly demand for specific product and maintains loyalty towards retail
industry's footwears and goods related to firm. Further, it emerges good image of featured
effective items at corporate level in international market. Different coutries people demand for
segmented productive services to increase positive attitude towards quality and cost affordability
of goods and services (Silverman and et.al., 2016). The step forwarded to increase repurchasing
of Next plc items at large scale to develop productivity as well profitability of facilities.
Therefore, above mentioned tools are interconnected to each other indicates clothing and
footwears position in competitive market. At first, attraction for particular featured item creates
brand loyalty leads to establish good image of retail products as well it proceed to repurchasing
and highly effective demand for goods and services (Sorescu and Sorescu, 2016). Hence, Next
plc increases efficiency and improves attractive brand recognition by focusing on these three
tools interrelation influences products value in competitive market.
TASK 2
2.1 Different kinds market research techniques
Next plc analyses customer needs through market research technique. It involves
collection of data and information and further plays great role to plan for business activites.
6

Thus, company researches market by using several techniques as data collection and data
analysis. It provides proper idea regarding users choice in different forms of survey, sample
testing etc. Primary market research:- It is coomon type of research Next plc uses to gather
information related to clothing and footwears position in market. Under this process,
business organisation focuses to obtain idea for improvement in goods and services. It
also includes techniques related to questioning and survey method to acknowledge idea at
first time in market (Martinaityte, Sacramento and Aryee, 2015). Hence, company gets
idea of people perception and attitude towards product and its worth in market. Secondary market research:- This research includes components of ready materials like
office data, newspapers, magazines, government data and information colected from
other people or from other entity's market research records (Salzman and Skonberg,
2015). However, Next plc determines buyers need to adopt production style more
attractive.behind the customer’s mind to fathom what they see lacking or whether they
truly like the product or not. Some common examples of qualitative research work
include doing face to face interviews, being part of focus groups, etc. Qualitative research:- Next plc uses qualitative research technique to analyse buyer
desires related to goods and services of the retail industry (Gustafsson and et.al., 2013).
Therefore, company conducts face to face interviews and focus groups to recognize
costomer perception and business environment of facilities provided by organisation
effectively.
 Quantitative research:- This kind of research involves survey, questionnaires and
research papers tools and techniques. Thus, as per population Next plc gathers
information and analyses data which supports manager of the firm to prepare strategic
plans for further activites of the organisation (Next plc, 2016).
2.2 Sources of secondary data to achieve marketing objectives
Next plc focuses to gain customer satisfaction and enhancing productivity and
profitability of resources. Therefore, it researches in market to observe consumer needs through
secondary data collection. Further, these data are gathered by using collected records of primary
7

data collection. It involves various techniques like articles, newspapers, magazines and collected
information from other ready materials of collected records.
There are two kinds of secondary data collection sources such as internal sources and
external sources (Cacciolatti and Fearne, 2013). Further, office data and record of past years
performance comes under internal information gathering, which remains available at workplace.
It includes profit and loss account, financial statement, audited balance sheet, sales figures and
transaction activity of different kinds of footwears for men, women and children. Therefore,
ready materials present at workplace is helpful to reach out the marketing objectives.
In addition to internal sources external sources are also useful to collect information in
secondary data collection for market research (Fornell and et.al., 2016). Thus, external sources
involves recorded information from government, media including newspapers, magazines,
articles and broadcasts. It influences effective marketing research to reach out company's
objectives and proper idea generates to gain customer demand.
2.3 Validity and reliability of market research findings
Next plc gains data from secondary sources therefore proceed to prepare strategic plans
for further activity. These information seems to be valid and reliable to achieve target. On the
behalf of gathered srecords retail industry objects to achieve optimum utilization of clothing and
footwears including home products (He, Fataliyev and Wang, 2013). Although collection
considers as valid but it possesses some limitations such as at the time to gain information from
other business entities like Tesco, Sainsbury through internet some sites are restricted. Therefore,
accurate information does not indiactes to move forward for Next plc. Including this, it is
observed that past years experience and strategies might be effect future transaction of resources
so proper strategic management might be remains imbalanced.
Except these limitations, it is analysed that colected record from media, articles and
audited balance sheet are useful techniques to step forward. However, collected records seems to
be valid as well reliable on the basis of which Next plc reaches out to the marketing objective to
gain customer satisfaction. Moreover, market research as true report of last years office data
plays great role to expand retail industry in different countries. In addition to this, company's
performance in competitive market can be obtained through valid and trust worthy recorded data
(Gustafsson and et.al., 2013).
8

2.4 Market research plan to gain information
Next plc researches market to acquire knowledge related to customer and their opinion to
make good image of company in competitive market (Next plc, 2016). Background:- Retail industry is largest clothing and footwear service provider in
international market. It produces and supplements products as per market research and
customer satisfaction. Rationale:- Next plc seeks to determine company and its products value in marekt. It
aims to maintain long term relationship with consumers for financial growth and long run
stability of organisation. Objective:- To determine customer attitude and perception towards footwears and other
products. It also aims to pull consumers at large scale by providing goods as per their
comfort zone. Market research techniques:- Next plc applies qualitative research to identify opinion
through survey, questionnaire and conducting interview to gain market position. Data analyses:- Market research provides information related to recognition of data.
Therefore, data is to be analysed on behalf of which manager preapres strategic plans to
solve out the issues. Timeframe involved in conducting research:- 2-4 weeks.
 Budget:- Strategic plan involves budget technique in which funds are to be forecasted to
implement and analyse strategic management.
TASK 3
3.1 Market size and trend of Next plc
Market size presents through production and supplement quantity as well quality of
clothing, footwears and home products of the firm (Market intelligence, 2016). Therefore,
volume of productivity and profit earning margin indicates size and shape of the organisation. As
per the case, Next plc presents market condition of footwears for male, female and children
specifically. Company is facing challenge to grow financial status as well sutainability of goods
and services in competitive market. Moreover, retail industry seeks to overcome the issue by
setting goal to expand retail stores and catalouge stores worldwide. It is expected by managers of
the entity that position of product value would be increases at high level in future. In addition to
9

this, company focuses to encourage shareholders for investment and providing different kinds of
products as per consumer needs and demands.
Hence, at present it is observed that Next plc tries to concentrate on economic growth as
well expansion of productivity and profitability of firm for stability in competitive market
(Williams, 2014). It is observed that retail industry will able to open large quantity of stores
which remains helpful to gain effective position in market for long term period. Thus, market
size of company influence its future trends for further transaction of goods presents monetary as
well non-monetary profile of product value in market.
3.2 Competitor analysis for Next plc
Comparison of company's performance with other entity is useful to follow upon
strategic management and planning process effectively (Sorescu and Sorescu, 2016). It is one of
the essential tool of strategic management involves formulation, improvement, monitoring and
further adjustments as modifications in management process. Thus, performance of Next plc is
comparised with Primark retail industry of UK which faciliate same goods and services to buyers
by using different marketing approach and techniques to achieve effectiveness. Strategic group
helps retail industry to analyse accurate position of services in market through segmentation.
However, different kinds of footwears and clothing products divides according to customer
preference. Comparison between past perfomance and present trend is obtained to achieve
effectiveness.
It is useful technique to determine strength, weakness and opportunities to perform better
in market to sustain its products' position. Therefore, complete evaluation of Next plc is
determined through this process to develop financial criteria as well stability of organisation for
long term profitability.
3.3 Opportunities and threats of Next plc and its product service
Analysis of opportunities to overcome weaknesses influences business environment of
retail industry (O'Leary, 2013). It is an external component for analysing the performance of
organbisation. It also involves threats occurs during transaction activity in global market. Hence,
company grab opportunities to develop financial position by increasing productivity and
profitability of resources. Entity establishes good relationship with with users including agents,
wholesalers to expand business and long term sustainability of product value.
10

Next plc feels threats occurs during transaction of resources to maintain and sustain
position in market. Facing competition is one of the greatest task for entity to make place of
product value in cut throat competitive mareket (Nunan and Domenico, 2013). There is risk to
either attract or repulse buyers towards goods and services of the firm. Therefore, threats requires
to be reduce to gain effectiveness as well customer satisfaction.
TASK 4
4.1 Methods to gain customer response
Effectiveness and market position of Next plc is considers through customer feedback
and their perception towards facilities provided by company (Malaval, Bénaroya and Aflalo,
2014). It is done through various tools and techniques in offline and online ways. Further,
physical methods includes survey, questionnaires, face to face interviews and different strategies
to analyse buyers' interest as well demand for products. On the other side, online medium to gain
customer response includes analysing comments on social networking sites, email, comparing
performance of entity with other retail industries like Tesco, Primark. Therefore, market research
and value of services is to be considers in market. These feedbacks can be in positive and
negative forms which generates idea for further activity to gain efficiency for optimum
utilization of resources systematically.
4.2 Customer satisfaction survey
Next plc plans to get customer satisfaction survey through survey to analyse people
opinion related to new shoe marketing activity. Further, researcher prepares questionnaire to ask
questions from public. It involves a list of questions regarding their satisfaction level towards
company and its products.
1. Are you familiar with Next plc retail industry and its products?
Yes
No
2. Which quality feature do you the most in footwears?
Comfort to wear
Smooth sole
Color combination
3. In your opinion, what is satisfaction level of new shoe?
11

Highly satisfied
Normal satisfied
Dissatisfied
Highly dissatisfied
4. What color combination customer demand the most?
Light colors
Light-dark combination
Only dark colors
5. According to you, what would be level of new shoe for future marketing activity?
Effective
Moderate
Company should stop producing new shoe
Hence, during survey questionnaire asks effective step by step questions to analyse product value
in market.
4.3 Evaluation of survey method
Above mentioned questionnaire satisfy Next plc and analyst to obtain effective market
research. Therefore, survey method seems to be succeed and generates variety of ideas to run
business for long term. Including this, survey method determines customer comfort zone with
new shoe and value of products is to be considerd. Manager of the organisation evaluates that
proper perception and consumer interest is analysed to sustain and promote shoe value in market
also strength potential of goods and services to face cut throat competition in market (Fornell
and et.al., 2016).
CONCLUSION
Marketing intelligence considers as integration of strategic management and variety of
marketing activities is determined. Collection of information in primary as well secondary forms
are understands here. However, financial development and maanner to face competition to
sustain product value is also identified. Therefore, management functions of manager in Next plc
plays great role to promote effectiveness is recognised. Thus, a proper structural framework to
gain market research and customer satisfaction evaluates to acquire knowledge regarding retail
industry.
12