Introduction Marketing Intelligence
Marketing Intelligence can be defined as at information which collected everyday about the company markets and then it is analyzed for the decision making process to adopt strategy of market penetration, market development etc.
In this report stress is given on how the buyer makes purchase decision and buys the product. Further it tells about the Sainsbury retail firmthat took market survey and was very successful in doing its job. Last but not the least it give idea about Google organization that has emerged as the most powerful search engine website.
Buying decision making process is a decision which is undertaken by the consumers for purchasing the product and even after the purchase is made.There are various stages which are involved in the decision making process of the buyer. Mainly there are 5 stages which help the buyer to make a correct choice. They are:
It is the most important stage as the need of the human being is the key source in purchasing the product. When the need is recognized then only the person will buy the product. Basically the need is the difference between the actual situation and the situation desired by the customer (Aaker, 2007). For example, if the buyer is thirsty he will purchase the bottle of water for satisfying need. This is known as need recognition.
After the information is gathered about the product thebuyer evaluates the choices which are available to them (Cooper, 2000). The substitutes and the different brands of the product are the major alternatives. there are various substitute but the buyer evaluate them by considering things such as price, quality ,services ,guarantees etc.
Cultural factors basically include culture, subculture etc. The decisions are made upon the values and beliefs which are inherited by the consumers. Even the products which are sold in the market are according to the culture which is followed in the family. Even cultural factors are basically the factors which are influence by the environment of the country. For e.g.- if mobiles phones are not allowed to the children below 12 years of age in the house then no one will buy the product even if they are in the need of (Aaker, 2007)
Social groups are basically the family, relatives, friends and others. This is the common phenomena as the consumer will buy the product after referring it or taking advice of his near and dear ones (McDonald and Wilson, 1999). social factors are the factors which are influence by the groups of the people who are affects the decision making. Even social factors are the medium which motivates the consumer to buy the product. In this case many things we buy because relatives or friends owe them.
Personnel factor are basically the income of the consumer, age etc. the product which the individual buys reflects its age and the income. personal factors are the one which differ extensively in affecting the buying behavior. If one person is buying an expensive car this reflects that he is a rich man. Psychological factors are the consumer learning, perception, belief. These are the most important thing that affects buying behavior. The consumer buys the product according to the attitudes which he posses in him (Melewar and Smith, 2003)If consumer feels that black color does not suits her she will never buy the dress which is of that color that refers to the perception of individual.
Brand loyalty can be defined as the consumer preference or choice to repurchase the product from the same brand. Brand loyalty and repeat purchases are directly connected. The consumers are satisfied with the product and they have positive feeling about the company. This is mainly shown in the expensive product like watches, car.Google hire a lot of engneering students for proper running of their search engine. For getting job inside google you need proper assignment help so that you can be ready according to google. The consumers do not want to take risk so it feels safer to purchase from the same brand from where he has purchased earlier.Brand loyalty is seen in consumers in case of the branded watches as the consumers who buy Rolex watch would every time prefer to buy the same watches. This leads to repeat purchases as the customer is satisfied from the product and the same satisfaction he is not getting from different company. Basically in the similar form brand loyalty is the vast concept and repeat purchase is the part of it.Even in the case of the car if the consumer is brand freak he will buy the same car and of the same band this also refers to as repeat purchases. Even there are cases when the consumer is not satisfied with the product this leads to dissatisfaction ad this results that consumer will not but from that company.
Corporate image can be explained as the image which the consumers had made in their minds regarding the company. For e.g. - when a person wants to celebrate his success with a chocolate the first most things which comes in the mind is dairy milk (Cranzer, 2006).It is the perception about the company which consumer has developed in their minds. This image is created by the marketers, consultant of the company. corporate image has been affected of the Malaysian airline where the consumers found dissatisfaction in the services of the company.
In the support of this, it can be said that the brand loyalty is all about perception of customers towards brand. It also helps in identifying its owner and thereby provides legal protection also. It also indicates the information about number of loyal customers to the brand. It also shows the desire of the customer to buy that particular brand only. It is beneficial for decrease in cost of advertising and generate high profit margin in low cost. Corporate image is also considered as a perception of customers towards company and its products. Moreover, enhanced level of corporate image and brand loyalty motivates customer to re-purchase the product. It is all about customer decision to repeat purchase activity by considering corporate image and brand loyalty. This clearly indicates the relationship between brand loyalty, corporate image and repeat purchase.
These are those techniques that are used to gather information about the market situations, consumer behavior among others. Sainsbury is a one of the leading popular retail store. They have opened by branches and stores in all over the country. There are two types of research techniques being qualitative and quantitative.. Quantitative use numbers are objective and based on factual information while qualitative includes observation, interview, surveys, case studies among others.
This method is the most common and frequently used by the researchers. In this the customer behavior is observed and then according to that analysis is made. If the researchers want to know about the buyer pattern of customer in Sainsbury that why the consumers buy from this store (El-Ansary, 2006). It is the best method. The main disadvantage of this approach is that it facilitates improper information. Information cannot be measured with an efficient manner.
Researchers take interview of the random customers. The questions are asked according to the topic. If they wanted to know that what thing can be changed by this retail store to make it more successful. So, they can conduct interview of the Sainsbury customer. On the other hand, it is very lengthy and time consuming process that is main negative aspect of this approach. It can increase cost of whole research.
Information on the internet
This is the secondary data method in which some relevant information is derived from the internet by the researchers (Doyle and Bridgewater, 2012). With the help of this process, business entity can get efficient information without any expenditure. But, company cannot consider as authentic information because generally information is created by assumptions.
This is the most successful method in which a questionnaire is made by the researchers and the customer has to fill it. The questionnaire can be given to the consumer are purchasing the product in Sainsbury store (Aaker, 2007). This requires less time than the interview and this is good when there is large number of respondents. It is very expensive process of data collection. Firm has to utilize different type of valuable resource like workers, time and money in order to get accurate information. All these factors are major disadvantages of this system.
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Secondary market research
Secondary market research is the type which generally involves the data which are already collected by some of the researchers. Published article, newspaper and journal are the sources of secondary data. In this information is already published in the newspaper. Some have previously made research on it. Secondary data information is taken as a help by them so that they get some kind of information (Kotler and Armstrong, 2005). Even this is generally taken to compare the present as well as the past scenario. The article in the journal helps them to get the current information so that they can easily precede their research.
The internal market report of the company is also included in the secondary data. Customer details, sales figures etc is used by the researchers to find out about the customer perspective. The internal sources give the true insight about the Sainsbury Company that will help the researchers to explore more about the company. Information is also obtained from the certain agency like government agency, local council. The information extracted from the government agency is mainly about the rules and regulations considered followed by Sainsbury and their policies. Generally this became outline for the researchers to carry out further investigation (Meng, 2010).
Other than this, company has focused on number of secondary sources in order to accomplish organizational objectives. Classification of sources can be as online books, journals, etc. as per the gathered information it can be said that the economy is stable and it is providing better growth Sainsbury which is beneficial to meet organizational objectives. As per the data of 2012 it can be stated that the economic system is better growth every year by the percentage of 2.6 which is advantageous for retail sector development. It has also been noticed that the sales of Saisnbury has increased by 2.6% in year 2014 which is considered as one of best retail sales after the recession period (The Retail Forecast for 2015-2016. 2015). Moreover, according to report of IGD, it has been identified that the grocery sector is having various opportunities that is also influencing the success of ratio of Sainsbury in positive aspects. By the end of year 2015 the management of Sainsbury is expecting growth of 6 % in brand value which will also boost the opportunities for sector.
Market research plan assists management of Sainsbury in several activities in the form of launching of new product, expansion of business in new market and evaluation of current market trends. In the first stage, management of Sainsbury determines objective of market plan in the form of expansion of business in new market. In the next stage, researcher analysis present market condition of that particular market in the form of demand, inflation rate, supply of products and perception of consumers and market share of different kinds of organization. In the third stage, business entity evaluates demand and product quality of other firm. Company also measures perception of consumers about Competitor Company (Mason and Mouzas, 2012). Researcher also makes efforts in order to get accurate information about effectiveness of marketing tactics of other competitor organization. In next stage, researcher evaluates data collect from several resources according to aim of whole research. In last stage, researcher develops final report and presents in front of top managers. Company can follow the following steps:
Consumer response is the information that has been given by consumers regarding the usage of product or service offered by a company. There are different techniques in evaluating customer response. Sales level of Sainsbury can be used to measure customer satisfaction. If the sales level is increasing or is high that means customer is satisfied with the services given by the retail firm.This helps to provide numerical information that is easy to analyze. Another technique is the customer compliant as more and more grievances of the customer are there then that means there is some problem in the management of the store and the customer. The advantage is in terms of easy data collection but it cannot be relied upon due to biasness of consumers.
Market size is defined as the buyers and the sellers who are in the industry. In case of the online market, there are many buyers and the sellers. In this it is necessary for Google to understand the market size in search engine market so that management can understand actual growth rate within market. It facilitates in effective designing of market strategy as per market share and growth rate. The market size of the search engine is normal as there are competitors but they are not that successful when compared to Google (Market Analysis,2014). Even the market size of the search engine is increasing day by day. In this case, both the market size and the buyer are increasing. It has also been identified that Google search engine is one of most commonly used search engine in the world. Customer and people use it to gather information regarding diverse subjects like music, technology, etc. Previously the search was used by the people for receiving important or relevant information. Market trend is defined as the sales and profit shown by companies over a particular span of time. But now as the market trend has changed it used for searching every small aspect of information from the search engine.
In this trend, Google has captured a big market for it gives every information and the source is also considered as the most relevant source (Mason and Mouzas, 2012). In other aspect, it can be stated that the Google is holding highest market share in search engine industry and customer uses it to gather information about diversified subjects in order to enhance knowledge and skills (Cranzer, 2006). Google map is also one of most usable feature which provide high level of navigation. It has been spotted that Google map is covering highest ratio in market and helps people in locating diverse locations in all over the world. The customer are increasing as the trend has shown that at past times only the persons who were working were prone to the Google sites but now every single child for any small information is using Google search engine. Since the uses of the site is increased so the customer are visiting more frequently and using it. The major competitor of Google is Wikipedia so there is a very least difference in the market size of both of them.
Basically the analysis between the firms competitor. In this case competition is analyzed on the basis of performance as well as the market share which is gained by the Google. Fierceful competitor of Google is Mozilla firefox as the market and the product which they are selling the same so the competition is quite tough (Cranzer, 2006). Under this analysis, the company tries to analyze its strength and the potential which he posses. the strength of the Google is the easy availability of the information and the reliability of the information that he poses. The core competences and capabilities of Google are strong brand value, high quality of services and poplar among citizen and companies. On the other hand, competences and capabilities of unique features in browsing services, huge number of users and continuous innovation in services.
Other than this, it has been spotted that Google also have some other competences which enhances its business opportunities. Technological and managerial process of Google is optimistic which provides integrated technology, process and effective use of available resources (Cranzer, 2006). It also enhances the strength of Google and facilitates in creating unique services which can enhance the customer experience. Moreover, Google also have core competencies in software engineering which helps management to maintain optimistic hardware infrastructure. Company also focuses on innovation to amend the quality of services which also increases its market share. The classification of successful products can be as Page rank, Google ads, Google mapping and others.
Even the resources and the capability of the organization are measured while competitor analysis. (Mason and Mouzas, 2012) The difference is in the capability that makes them different. Google is capable of creating a competitive advantage.
There are many opportunity for Google, the biggest opportunity is the growing demand for search engine for the people. In the present time, it is felt that no work can be done without searching on the Google website. The company has established its positive brand name in the minds of the people so if it want to go in other venture there are many opportunity(Mason,2012). The opportunities of Google are increment in number of internet user, popularity in new emerging markets and expansion of internet services in remote areas along with popular in internet marketing. In the support of this, it can be stated that Google can introduce driver less car which will start a new revolution within market and provide better competitive advantage in current competitive market. Company can also focus on various devices which can help in effective communication (Cranzer, 2006). Moreover, organization can also takeover any Smart phone company to expand its market opportunities. Google can also invest in various robotics government projects which will create a dynamic brand image within competitive market. Company can also invest in moonshot projects which will provide smart platform to world and facilitates business in attaining impressive success. The people are becoming more internet savvy in terms of gaining the information. Further it can even introduce many new services with simply giving information. The main opportunity for Google is seen for the display advertising. The business of visual advertising is increasing so Google can grab the opportunity and earn profit
Major threat which Google is facing is that of the security system which are used to protect it from the hackers (Kalampokis,Tambouris and Tarabanis, 2013). Recently the system was hacked by Chinese hackers and Google were not able to trace the hackers. Small loophole n the system can damage the entire system and even it ruins the name of the company.
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From this we can conclude that there are many factors which affect the buying decision of the customers. Even the study shows thatrepeat purchases are the part of brand loyalty and corporate culture is the different aspect. Further this report depicts that it is very beneficial to do product survey as it tells us the customer expectation and the weakness the company inherits. Lastly it gives idea about Google that the company has a large growing opportunity and even it can create a competitive advantage over other firms.
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- Aaker, D., 2007. Strategic Market Management. London: Wiley and Sons
- Cooper, G. L., 2000. Strategic Marketing Planning for Radically New Products. Journal of Marketing
- Cranzer, B., 2006. E-Business: Strategic Thinking and Practice: Strategic Thinking and Practice. Cengage Learning
- Doyle, P., and Bridgewater, S., 2012. Innovation in Marketing. Routledge
- El-Ansary, I. A., 2006. Marketing strategy: taxonomy and frameworks. European Business Review
- Gruhn,V., and Laue, R., 2010. A heuristic method for detecting problems in business process models. Business Process Management Journal