Marketing Intelligence Report: Consumer Behavior and Market Trends

This report provides a comprehensive analysis of marketing intelligence, focusing on consumer behavior and market research. It begins by outlining the stages of the consumer purchase decision-making process and explores various theories of buyer behavior, including Maslow's hierarchy of needs, and the factors influencing it, such as cultural, social, personal, and psychological attributes. The report then evaluates the relationships between brand loyalty, corporate image, and repeat purchasing. Furthermore, it assesses different market research techniques, including market description surveys and customer intention analyses, and discusses the use of secondary data sources for achieving marketing research objectives, specifically in the context of Morrison's. The report also examines the reliability and validity of market research findings, emphasizing the importance of credible sources. Finally, it addresses market size trends, competitor analysis, and the assessment of organizational opportunities and threats, as well as evaluating customer response and satisfaction. The report concludes with an assessment of the success of completed surveys, offering insights into effective marketing strategies.

MARKETING INTELLIGENCE
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Table of Contents
Introduction:....................................................................................................................................3
LO 1.................................................................................................................................................3
1.1 Describing the main stages of the purchase decision making process of the consumers:.........3
1.2 Explaining theories of buyer behaviors:....................................................................................4
1.3 Explaining the factors that affect buyer behavior:.....................................................................4
1.4 Evaluating the relationship between brand loyalty, corporate image and repeat purchasing:...5
LO 2.................................................................................................................................................6
2.1 Evaluating different types of market research techniques:........................................................6
2.2 Using sources of secondary data to achieve marketing research objectives:............................6
2.3 Assessing the reliability and validity of the market research findings:.....................................7
2.4 Preparing a marketing research plan to obtain information in a given situation:......................7
LO 3.................................................................................................................................................8
3.1 Assessing market size trends within a market:..........................................................................8
3.2 Planning and carrying out competitor analysis:.........................................................................9
3.3 Assessment of organizations opportunities and threats:............................................................9
LO 4...............................................................................................................................................10
4.1 Assessment of evaluating customer response:.........................................................................10
4.2 Assessment of customer satisfaction survey:..........................................................................10
4.3 Assessment of success of completed survey:..........................................................................11
Conclusion:....................................................................................................................................12
References......................................................................................................................................13
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Introduction:
Assessing the behavior of the buyers and customers is necessary for organizations in this
competitive place to meet the objectives and goals in an appropriate manner. Productive
marketing planning is necessary to understand different dynamics of the market environment and
perform as per the necessity of the field. The following study would elaborate market size and
techniques along with significance of customer satisfaction in order to become the pioneer of the
industry and gain more financial and non-financial advantage in the market place. Moreover, the
study would consider the working climate of Morrison’s and point out all the strategic and
marketing objectives required to achieve obligations or targets.
LO 1
1.1 Describing the main stages of the purchase decision making process of the consumers:
The purchase decision making process can be defined as the action used by the consumers or
buyers at the time of buying or before or after buying a product. The whole process is divided in
few stages which are:
Identifying problems:
According to Tingchi Liu et al. (2013, p.22), it is the stage where the buyer takes the decision of
buying products or services which meet the problems or needs (Ali, J., Kapoor, S. and Moorthy,
J., 2010).
Realizing needs:
At the time of purchase, the buyer should have clear idea of his or her requirement. Therefore,
realization of needs is always needed.
Product analysis:
In this stage the buyer identifies the product or products he or she is looking for. Baker and
Parkinson (2016, p.257) stated that this stage is where the buyer gets to know about the quality
and price of the product or services (Ali, J., Kapoor, S. and Moorthy, J., 2010).
Supplier Search:
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In this stage, the buyer identifies the seller from whom he or she will buy. The two factors that
work here is cost and the quality. The buyer always aims to purchase a product or service having
good quality but at a reasonable price.
Evaluation of Alternatives:
In this stage, the buyer tries to find some alternative products or services which can satisfy his or
her need. The comparison is done to get the actual value of his or her expenditure (Baker, M.J.
and Parkinson, S.T., 2016).
Purchase Decision:
After evaluating all the criteria, a buyer decides to buy, given that the outcomes of the analysis of
the above criteria meet the satisfactory level.
1.2 Explaining theories of buyer behaviors:
Of the several buying behavior theories, Maslow’s motivation need theory is sought the most.
The theory describes five important factors that drive the needs of a person. They are
psychological needs, safety needs, love needs, esteem needs, and the self-actualization needs. In
the importance level, the last one remains the at the top because it is believed that self-
actualization can only be achieved if and only if first four needs are met. Therefore, it is called
the growth need and the first four are called the deficiency needs (Maslow, 2013, p.95).
The psychological needs are the basic needs of a human being like water, shelter, food etc.
The safety need is the security itself; the love needs are friendship, family etc. The esteem need
is prestige and the self-actualization need is to fulfill desires. Therefore, it can be seen that to
achieve the self actualization needs, one has to first achieve the other basic needs. The graph will
move upwards with time and with every achievement. There will be ups and downs, but the
person should move along to reach the goal (Baker, M.J. and Parkinson, S.T., 2016). Therefore,
it applies to organizations in a way that their products should be fitted in these needs. For
example, Apple always keeps its product’s prices high only to make the buyers believe that the
products are a symbol of eminence.
1.3 Explaining the factors that affect buyer behavior:
There are several factors that affect the behavior of a buyer. These factors include cultural
attributes, social, personal and psychological attributes.
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The culture attributes are the factors that arise from the religion he or she belongs to and also
some other factors like societal acceptance etc. Therefore, when an organization is serving to a
particular community, it becomes responsible to assess the culture of that community (Shiau and
Luo, 2012, p.2437).
The social factors also influence buying behavior. There are family, friends and also other group
people who always give advices. Moreover, it is also important that a product a consumer buys is
appreciated by his or her friends and family members. Therefore, a consumer thinks from their
perspective before buying a product (Kim, Y.E. and Lee, J.W., 2010).
The personal factors are age, economic condition, life style etc. that affect the buying behavior. It
is obvious that a person of 70 years and a person of 25 years will not crave for the same product.
Therefore, it will be necessary for Morrison’s to think of every age group it serves. The
economic condition also influences the buying decision. There is a huge difference in purchase
making between a low earner and a high earner. Therefore, it is necessary to offer products of
different prices (Kim, Y.E. and Lee, J.W., 2010).
Psychological factors like belief, perception also affect a buyer’s behavior.
1.4 Evaluating the relationship between brand loyalty, corporate image and repeat
purchasing:
Brand loyalty is a pattern of buyer’s behavior where buyer has a preference to a particular brand.
According to Kim and Lee (2010, p.4035), brand loyalty is a consumer’s attraction towards a
brand, therefore, he or she purchases products of that brand, frequently.
Mandhachitara and Poolthong (2011, p.125) have stated that if a customer chose a product which
fulfils his or her requirements, he or she will purchase the same product again and again, it is
called repeat purchasing.
Once the corporate image was identified as jargon but in present days it is identified as an
organization’s reputation.
All of the above three major parts help identify the customers for an organization. If an
organization has goodwill then that will be helpful for it to generate new customers and also in
retaining old customers. A good image of an organization also helps to create loyal customers
who make repeat purchase.
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The leadership factor is another important factor in affecting corporate image, building brand
loyalty along with the repetition of the purchase of the product. The leader enables or rather
visualizes the mission and vision of the organization while operating in the market. The leaders
initiates the stakeholders regarding the objectives and goals of the organization. The leaders are
the representatatives of the brand and whenever issues occur, it is the leader who ahs to decide
what to do and how to tackle the problem regarding the product. The issues amt include
customer dissatisfaction, defect in any product, sales or promotion related issue. The leader
guides the employees in terms of carrying out the organizational operations and building
relationship with the customers who are sole priority of every organization. The leaders are the
holders of the corporate image in the particular industry that needs to be maintained by the leader
in order to continue being the same service provider and then further improve accordingly.
The leaders of any organisation incorporate multiple leadership styles in order to go perform in
accordance with the demand of the market and the type of market, which needs to be done.
Different type of market determines the different leadership style. However, the one among the
many traits of a good leader is to motivate and guide the employesa and the othe related staffs
who work on the ground level to fulfill the aims and objectives of the organization atha re
foreseen by the leaders.
LO 2
2.1 Evaluating different types of market research techniques:
Market research is an activity of collecting information relating to the customers. Witell et al.
(2011, p.151) stated that market research is a process of identifying the customer's need or want.
Conventional market research techniques are as follows:
Market Description Survey:
In this case, the organization indulges itself to determine the market's growth, competitive
position and size of the market (O'Leary, 2013, p.57).
Market Profiling and Segmentation Survey:
Here the organization identifies the customers and the noncustomers and the causes behind a
person of being a non customer.
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Stage in Purchase Process/Tracking Survey:
In this technique, an organization tries to persuade the customers by awareness programs, trials
etc.
Customer Intention and Purchase Analysis:
In this technique, an organization involves itself to converse the interest of purchase to actual
purchase of a customer by motivation. Understanding, commitment, loyalty are used as tools by
organizations in this context (McQuarrie, 2015, p.124).
2.2 Using sources of secondary data to achieve marketing research objectives:
Secondary data helps in achieving a vision which directs the path to conduct the primary
research. Therefore, secondary data are always important prior to the initiation of a research
study (Nunan and Di Domenico, 2013, p.510). In this study, the aim is to present the importance
of secondary data that will help find the basis of market research in respect of Morrison’s. The
market research objective for any organization is to assess the situation for the time being. It
surrounds market demand, economy, competitor analysis and other factors that may affect the
performance of the organization.
It has been found that Morrison’s is in fourth position of the supermarkets in the United
Kingdom and is facing intense competition from giants like ASDA, Tesco, Sainsbury’s, Aldi and
Lidl. The financial attributes have shown negative outcomes and the market demand is also not
satisfactory (Mandhachitara, R. and Poolthong, Y., 2011). In 2014, the organization had posted a
loss of GBP 176 million. However, in the next year, the organization was able to book a profit
after tax amounting to GBP 217 million (Morrison’s-corporate.com. 2017). Therefore, it implies
that the overhaul in the management and strategic decisions had gone well for the organization.
However, there are more scopes within the market. The online platform, which is the recent
trend, is yet to be exploited by the organization.
2.3 Assessing the reliability and validity of the market research findings:
The reliability and the validity of market research findings depend upon its sources. As stated
above, secondary data is as important as the primary data. The researcher has tried to excavate
the information from the most reliable sources.
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Most of the data have been taken from the Morrison’s annual reports. As the organization is
bounded by the legal norms to conduct audit periodically, it has been assumed that they provide
with the most authenticated information available on the net. However, there have been many
other sources that became useful while gathering this information. Market surveys by recognised
organizations have eased the process of data gathering. This information is readily available in
the virtual world. On the other hand, governmental accreditation and notifications on the
Morrison’s performance and operations have also been the sources of information
(Mandhachitara, R. and Poolthong, Y., 2011).
However, the chances of occurring standard error cannot be eliminated. According to Zikmund
et al. (2013, p.223), secondary data gives past information, therefore, actual scenario in the
present condition has also been foregone. The information are sourced from outsiders, therefore,
the assurance of cent percent authenticity cannot be claimed alike primary data. The scarcity of
time and also the cost structure has contracted the scope of a further research.
2.4 Preparing a marketing research plan to obtain information in a given situation:
The marketing research plan will consist of several actions to be taken by the researcher. It
includes, data gathering, data curtailing allocation, and assessment. For the purpose of launching
a new product, it will be of utmost importance.
The data collection will be by both primary and secondary data gathering process. For the
purpose of secondary data gathering, the researcher will look to different publications, articles
and also on the internet. However, the primary data gathering process will be more detailed. The
researcher will frame questions for surveying the target customers and interviewing the managers
in the field (Maslow, A.H., 2013). The respondents will be shortlisted on the basis of the target
group criterion.
 After gathering the responses, the researcher will cut out any irrelevant data. There could
be several instances where the questionnaires might not be duly filled; therefore, those
would be eliminated.
 However, thereafter, it will be the duty of the researcher to analyse the data. The analysis
will be done with mathematical and statistical tools which will increase the reliability of
the outcome.
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 In addition to this, there will be a competitor analysis, where the aim would remain as to
know whether the same kind of product is in the market or not. If there is, the plan will
shift to diversification than product development (Maslow, A.H., 2013).
LO 3
3.1 Assessing market size trends within a market:
The Morrison’s in the UK market had started its business in the year 1899. From then, it has
managed to gain a goodwill that has helped the organization to find itself in the fourth place in
the industry. The organization has opened 568 stores in the whole region of Great Britain and 1
in Gibraltar. Therefore, as far as the operations are concerned, it can be said that the organization
is having a colossal duty. However, the market share of the company in respect to its operations
is not in proper ratio. The market share is constantly decreasing for Morrison’s. Supermarkets
like Asda and Lidl with their discounting strategy are giving threats to Morrison’s. As a result of
this intense competition, the organization had lost 0.3% of its market share in 2015, compared to
the share of 2014 of 11.3% (McQuarrie, E.F.,2015). Moreover, it was also far behind from the
market share of Tesco, having 29%. Therefore, it implies that although the organization is having
its presence in the UK market deeply rooted, the intense competition may make it stumble.
Therefore, it needs to increase its number of services and products, methods of servicing and also
diversifying its strategies.
3.2 Planning and carrying out competitor analysis:
The competitor analysis for Morrison’s includes competitor identification, assessing competitor
performance, their strengths and weaknesses. It has been found out that Tesco, Sainsbury's and
ASDA have outperformed Morrison’s over years and currently Aldi and Lidl are threatening it
heavily. From financial positions to market share, the organization is getting bruised in all
respect in the UK market. The current market share of Tesco in UK 29%, ASDA is having 17%,
Sainsbury’s share is 16% and Morrison’s has 11%. Therefore, it implies that there is a huge gap
between the market leader and that of Morrison’s (Nunan, D. and Di Domenico, M., 2013).
The financial performance of the organization also draws a negative slant. In 2014, the
organization had posted a record net loss (Morrison’s-corporate.com. 2017).
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Its product line and services, is lacking in all respect. The offers are not alike Aldi and Lidl that
is highly discounted. In addition to this, product diversification is limited and new route of
serving is very much poor the organization is yet to fully embrace the recent craze of online
business (Nunan, D. and Di Domenico, M., 2013). Therefore, it can be said that Morrison’s is
lacking its full potential with the existing strategies, however, if they are properly devised, it may
lead the industry.
3.3 Assessment of organizations opportunities and threats:
It is not to be mentioned that each and every product and service of the organization is comprises
of some opportunities and threats which complete the overall boundary of the enterprise
(Belknap and Clark, 2016). Since major service of Morrison’s is to sell branded and other
products to different customers and buyers, the same provides different types of opportunities
and threats to organization in the market place. In the current case, the given product and service
is providing supermarket services to different customers and buyers.
Strength: The strength of these organisations include the different types of the products that will
hinder the chance of being flop in any industry and also in trerms of having less sale in the
industry. Moreover, these type of organizations cover a large section of multiple and different
industry.
Weakness: The weakness of these organisations is less though however, the weakness includes
the segmentation of the market. The segmentation if not appropriately may bring failure in some
sections of the industry. Satisfying multiple customers with so diverse demands is a weakness
indeed, which can be mitigated in anyway.
Opportunities:
Since enterprise sell different types of products to the customers, the organization gain
opportunity of attracting different potential customers having different preferences and tastes.
This opportunity enhances the revenue and surplus of the organization and boosts the financial
strength of the enterprise in the market place.
Threats:
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The frequency of new entrants haunts the overall performance of the organization in the field of
competition and enhances the level of risks or uncertainties arising from significant sources. The
entrants are hitting the market place with effective strategic planning and cheaper pricing policy
which affect the status and stability of Morrison’s and reduces the overall credibility and
efficiency of the same (Belknap and Clark, 2016).
LO 4
4.1 Assessment of evaluating customer response:
Customer response techniques are necessary for the growth of the enterprise or organization in
the market place. Through the implementation of customer response survey, it becomes quite
possible for the organizations to capture the demands and wants of the market place and perform
accordingly. Further, customer response survey enables the enterprise to gain competitive
advantage and overcome the barriers placed by other competitors or rivals in the market place
(McCort and Malhotra, 2013). Linking the same, for the betterment of Morrison’s there could
not be a better customer response technique than survey which makes it feasible for the
organization to understand the mindset of the customers and took decisions accordingly.
Survey covers the entire boundary of the enterprise and highlights the area which needs more
improvement and efficiency from organization side in order to become more financially and non-
financially strong and effective. Apart from survey, interaction through social media is also
profitable from enterprise point of view and enhances the overall profitability and status of the
enterprise in the market place. Thus, it is necessary for each and every organization incorporated
under retail industry to conduct survey after regular intervals and include the feedbacks of the
customers or buyers (McCort and Malhotra, 2013).
4.2 Assessment of customer satisfaction survey:
While conducting the survey, selection of question and department is also very critical and needs
attention from the respective professionals of the enterprise. In order to gain customer
satisfaction, it is necessary for the professionals of the organization to identify or recognize the
areas which haunt the overall performance and position of the enterprise and are misdirected in
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terms of achieving customer related targets or objectives. Linking the same, the professionals of
Morrison’s should follow the following survey in order to attract more and more potential
customers and achieve customer satisfaction (Peter and Olson, 2010). Thus, the survey is
presented below:
 What is your name?
 How frequently you visit our store?
 Do you recommend our service to your friends or relatives?
 Are you happy with the services of the company?
 Are you satisfied with the behaviors of the employees?
 Do you feel the company should sell more branded products?
 How do you rate this organization in terms of competition?
 Any other suggestion
Apart from the questionnaires mentioned above, it is also necessary for the respective
professionals performing the survey to maintain all the ethical standards and grab correct
feedbacks of the potential customers.
4.3 Assessment of success of completed survey:
The above mentioned survey would provide many financial and non-financial help and
assistance to the organization in the market place which further enhance its position and status in
terms of competition and competitiveness. The success of a completed survey comprises of many
advantages and benefits for the organizations or enterprises in the field of competition or
challenge. Further, this success enables the organization to identify all the respective
opportunities and overcome both known and unknown threats in best possible manner to win the
faith and trust of the potential customers and become more creative and credible in the market
place (Peter and Olson, 2010). Thus, survey should be implemented by organization after regular
intervals to meet the organizational objectives and perform even under critical conditions or
situations.
Apart from the advantage mentioned above, the most significant success of survey is the
prediction of the market place. By implementing survey it become quite feasible for the
organization and so for Morrison’s to change the changing or dynamic parameters of market
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