Get Your Assignments at the Best Prices NOW!!

Marketing Intelligence Assignment Samples

See What Our Writers Deliver Through Our Free Samples!

Marketing Intelligence Assignment Samples

20944 Downloads I Published: 23 Aug ,2016

INTRODUCTION

In the modern era, marketing intelligence emergence is an important tool in the context of collecting best information from the market about services and products offered by firms to their customers. As per the given case scenario, Primark which is a very famous retail clothing store chain was taken. Enterprise is famous for selling fashionable clothes at the low cost as compared to other brands present in the market. Main aim of the report is to provide details about market research techniques and their benefits for the business operations of Primark in competitive arena. By conducting the present research, investigator would be able to understand the buying behavior and the decision making process of customers.

TASK 1

1.1 Main stages of the purchase decision-making process for an individual consumer

Buying behavior of an individual customer can be understood with the help of following steps:

Need Recognition: In this stage, market research department of enterprise emphasizes on understanding the needs of customers and their perceptions about services and products offered by company to them (Harker, 2008) For example, if customer wants to purchase clothes then he/she need to firstly consider the features of products such as price, brand and other features before purchasing the clothes.

assignment sample marketing intelligence

Information search: After collecting information about products, customers take guide from his/her relatives and friends about the products and services offered by Primark.

Evaluation of Alternatives: On the basis of taking suggestion from their relatives and friends, prices and other features of clothes need to be compared and then customer will take decision to purchase clothes as per his needs and budget (Wilson and et.al., 2010).

Purchase decision: After reviewing all alternatives and getting satisfied with the price, brand and other features of products, customer will take final decision regarding from whom to buy and when to buy.

Post-purchase decisions: After purchasing the product on the basis of meeting all needs and by getting satisfied with the product, he/she will recommend it to their friends and relatives for usage.

1.2 Importance of understanding buyer behavior and related theories 

The term buying behavior can be explored in terms of gathering information about purchasing habits of individuals or groups towards products and services. Brosekhan and Velayutham (2011) stated that knowledge of consumer behavior helps the marketer to understand the way in which consumers think and respond about services and products. By considering stimulus response model and generic theories, researcher can be able to understand the customer buying process and need to examine the factors that can affect the purchasing decisions of them (Brosekhan and Velayutham, 2011).

Generic theory of Buying Behavior: In this theory, customer’s main focus is on decision making rather than other factors. The product purchase steps include needs and identification of products; alternative evaluation and taking final purchase decision before taking final decision have been followed by customer while purchasing products. For example, after when changes arise in fashion and lifestyle factors, customers will take decision to buy new clothes and suggests their family and friends also (Lacobucci and Churchill, 2009).

Stimulus response model: This theory helps Primark to understand the impact of market stimuli such as product, price, place and promotion on customers. Besides that, other factors which include political, economic, social and technological factors have also been considered by customers before taking decision regarding purchasing the product (Calof, 2006).

1.3 Three factors which can affect the buying behavior

Consumers are the kings of markets and it is essential for enterprises to fulfill the needs of them because customer buying has become an integral part of strategic market planning. Sociological, psychological and personal are the main factors which can affect the buying decision of an individual customer.

Sociological factors: In the present marketing scenario, peer groups and family are the major social factors which highly affect the thinking of customers and their buying behavior as well. For example, upper class people in society purchase the products which suit with their personality and lifestyle (Forrest, 2002) On the other side, lower class people buy cloths by considering the price and peer group suggestion factors.

Psychological factors: Apart from the sociological factors, other factors which include motivation, perception, learning attitudes and self –belief can influence the buying behavior of customers towards product.

Personal factors: In the modern arena, as per the change arise in lifestyle and fashion, needs and demand of products also get influenced. In addition, person desires and perceptions about the firm product are also affecting their buying behavior (Wilensky, 2015). For example, some customers want to buy products from local shop and some desire to purchase the cloths from branded shop.

1.4 Evaluating the relationship between brand loyalty, corporate image and repeat purchase

Brand loyalty mainly deals with meeting all needs of customers and their desires which are attached with the particular brands. On the other side, brand image of product can be explored in terms of creating brand image of products in the canvas of the mind of customers. Customer's satisfaction towards purchasing products can be defined in terms of repeat purchasing. All three terms include brand loyalty; corporate image and repeat purchase which are interrelated with each other (Matsuno and Mentzer, 2015). For example, if firm will be able to maintain its corporate image in the mind of customers by delivering quality of products to them within stipulated time period then customers will become loyal towards the firm. It will motivate them to become a regular customer of firm and to do repeat purchase of products from enterprise.

Merit 1: For example, Primark can be taken which has created positive brand image in the mind of customers by using CRM and social media analytics techniques at workplace (Conduit and Mavondo, 2015). Firm was able to create its corporate image and brand loyalty through increasing the flexibility and convenience of customers during purchasing cloths.

2.1 Evaluating different types of market research techniques that Primark GB can use

Different types of market research techniques that Primark would use can be evaluated like:

Market research: In context of taking appropriate decisions and reducing the risk, market research technique is used by the enterprise. By analyzing the information, management of enterprise would be able to understand the current trends and can predict future trends of market and customers so that their demand can be met within stipulated time period (Wilson and et.al., 2010). Market research provides opportunity to enterprise to gather the information about individuals or organizations by using the statistical and analytical methods. In context of gathering information from customers to know their perception, Primark can use primary and secondary data collection approaches. In this regard, different techniques such as interviews, survey, focus groups, observations and field trials can be employed. Despite of that, in order to collect in-depth features and dimensions of the market, researcher can use qualitative and quantitative analysis techniques (Conduit and Mavondo, 2015). Besides that, focus groups, interview, observation and experiment are the other major approaches which are used for gathering information about customers.

Quantitative technique: For the purpose of collecting numeric nature data, enterprise can apply this technique at the workplace. In addition, excel, SPSS, R programming and SAS statistical tools can be considered to analyze the quantitative data. Primark can conduct survey by using interview and questionnaire techniques (Drummond, John and Ashford, 2007). However, a lot of time and cost related factors are associated with the use of this method.  

Qualitative data analysis technique: On the other side, in qualitative data analysis, fashion brand can collect information from already present records and past studies of researchers (Alexander, Khonglah and Subramani, 2015). For this purpose, thematic analysis, interview and literature review approaches can be employed.

2.2 & 2.3 Effective use of sources of secondary data to achieve marketing research objectives

Secondary data: In this method, investigator can collect data from past studies and already available information related to the same field. By conducting review of literature, researcher would be able to understand the perceptions of customers towards the products of Primark.

Marketing objectives:

    To examine the buying behaviour of customers towards products and services of Primark
    To investigate the perception of customers towards Primark and its product features

Sources of secondary data: For the purpose of understanding buying behaviour of customers, researcher can employ different approaches which include, journals, books, case study, publish research papers and online published articles (Nusairat, Rashid and Rembielak, 2015). Furthermore, as per the present given case study, books, journals and online published articles have been considered by the investigator to gather information about customer purchasing decisions (Biemans and Hillebrand, 2015).

Limitations of market research: Main limitation of this method is that investigator can only collect the information which is already available and not a new one. Despite of that, some other factors such as costly affair, fragmented approach and non-availability of reliable data are also associated with the use of secondary data collection method.

Reliability and validity: By considering the authentic sources and appropriate selection of analysis tools, researcher can be able to increase the reliability and validity of research. As per the present case scenario, both approaches, that is, primary and secondary data analysis have been used to synthesis the information about buying behaviour of customers towards products and services of Primark (Terada, Jing and Yamada, 2015). Despite of that, only valid sources and references have been considered for carrying out the present research in a significant manner.

Distinction one: By using attitude and iconic branding strategy, firm would be able to meet the needs of customers and for solving their problems within stipulated time period. Major benefit of this branding strategy is to better understand the consumer's self-expression and personal identity. However, proper knowledge of market and customer views are required to better grasp the opportunity from this branding strategy (Ozer and Gultekin, 2015).

TASK 2

3.1 Assessment of the size and the trends for the fashion industry in the UK

The UK fashion and textiles sectors are provided employment to an estimated 600 thousand people. In addition, member state industries like Bulgaria and Romania have a strong impact on UK Fashion manufacture (Facts and Figures about the Fashion Industry, 2010). It is found that most of the consumers preferred online shopping of luxury brands.

3.2 Competitor analysis for the Primark GB Company

With help of porter five forces model, researcher would be able to identify major competitors of enterprise and evaluates the performance of Primark in competitive arena. In fashion industry, threat of entry is low because most of the retailers are concentrating on virtual and online platform to deliver products to their customers (Afzal and Khan, 2015). In addition, threat of substitution and competitive rivalry in UK are high due to presence of various brands such as Asda, M&S, Top Shop and H&SM etc. Buyer power is high and customers have wide opportunity to switch over other brands. While supplier power is low due to absence of big supplier and less bargaining power of suppliers.

Primark can be divided into several strategic groups including beauty products and clothing store chain which stocks everything from new born and kids clothing, to women wear on the basis of various variables such as price, brand and other factors (Ozer and Gultekin, 2015). Top-shop and H&M are the major competitors of Primark which offers diverse range of products to their customers and constantly expanding business online using advance technologies. However, target same audience and time taking delivery of products and services are the major weakness of competitors of firm. Furthermore, Primark can grab business opportunity through promoting upcoming fashion trends and meeting dynamic changing lifestyle of people.

3.3 An evaluation of Primark's opportunities and threats for a the new product

In UK fashion industry, sales of online luxury brand are increasing continuously. It is predicted that in future sales and customer base of enterprise will be enhanced. By applying SWOT analysis, the opportunities and threats of new shoe product launched by Primark can be identified.

marketing intelligence sample

Opportunities: Primark can grasp opportunities through providing online shopping services to their customers and showcase's their products in stores. In addition, by targeting fashion-conscious customers and spending heavily on advertising mediums both traditional and modern media marketing channels, enterprise would be able to enhance its sales. As per the study of Wood (2010), sale of Primark was boosted 7% in 2010 by opening online stores. Through emphasizing on promotion mediums and opening more online stores, enterprise will be able to overcome its weakness and better perform as compared to other business rivals such as H&M, Top-Shop and Mark& Spencer etc (Wood, 2010).

Threats: Sales of Primark is highly depended on the economy of EU. Presence of strong competitors is the major threat which can create hurdle in success path of enterprise (Nusairat, Rashid and Rembielak, 2015). Apart from this, low number of sales assistant in stores and limited level of sales services are the other major factors which can create business threats for enterprise in term of reducing profit margin and customer base.

4.1 Techniques for assessing customer response

Survey (questionnaire) and interview methods can be employed in the context of collecting response from customers in a proper manner.

Conducting survey: By preparing questionnaire both the open and the close ended questions and filling them by customers, researcher would be able to understand their views related to shoe product and other services provide by company (Matsuno and Mentzer, 2015). By creating its own website and provides connectivity with social media platform, enterprise can provide opportunity to their customers to share their views about Primark products and their staff-members. Nonetheless, this process is time consuming.

Interview: By conducting interview of respondents when they reach at the store of the enterprise for the shopping purpose or sending mail to them, investigator would be able to know the perception of customers towards new shoes introduce by firm (Calof, 2006). However, permission and desire of customers, time and cost related constraints are associated with the use of this customer response assessing approach.

4.2 Design and complete a customer satisfaction survey

For interacting with customers and know their perceptions about products and services, questionnaire approach can be used which contains all types of questionnaires such as open, close ended and scale etc. that can be enlisted as follow.

1. How often do you typically use the clothes and other products of Primark?

    Once a year
    Daily
    Weekly
    Every 2-3 months
    Do not use

2. Are you agreed with the fact that enterprise provides better quality of products in compatible price?

    Strongly disagree
    Disagree
    Neutral
    Agree
    Strongly Agree

3. Overall, I am very satisfied with the way of services and products offer by company?

    Highly dissatisfied
    Dissatisfied
    Neutral
    Satisfied
    Highly satisfied

4.  Give the rating to products and services of Primark

 

Miserably 

Somewhat satisfactory 

Very satisfactory 

Delightful 

Overall quality 

 

 

 

 

Value 

 

 

 

 

Usage experience 

 

 

 

 

Purchase experience

 

 

 

 

After purchase service 

 

 

 

 

5. Is organization able to provide products as per your desire?

    Yes
    Somewhat
    No
    Not at all

6. Based on your per-experienced with enterprise would you recommend products and services of Primark to your friends and relatives?

-------------------------------------------------------------------------------------

7. Do you feel that prices of shoes and clothes provided by Primark are affordable?

---------------------------------------------------------------------------------------

8. Based on your awareness, services and products are offered by Primark is better?

    Much better
    Better
    About the same
    Worse
    Much worse

9. What recommendation provided by your side to Primark regarding to improve the services of the firm?

 

4.3 Review the success of the completed customer satisfaction survey

For understanding the view of customers, 50 respondents were chosen on the basis of their pre-experience and awareness about products and services of Primark. The success of survey can be measured in term of number of respondents participated in the study to share their view about services and products of organization (Wilson and et.al., 2010). From the result of survey, it is clear that most of the respondents agreed with the fact that enterprise provides better quality of products in compatible price as compared to other brands. 30 customers replied that they were typically used the clothes and other products of Primark in every 2-3 months. Respondents replied that organization is providing products as per their desire. Besides that, they had shown their positive perception about prices charge by enterprise for their shoes and clothes products. Furthermore, customers recommended that firm should focus on opening online stores and effective use of online promotion mediums like social media marketing techniques to magnetize and retain customers with the enterprise for long time period.

Call Now : +61 879 057 034Order now
How Can We Help You?

Getting Top Grades is No Longer a Dream for You.

Conclusion

From the research report, it is clear that consumers are the kings of markets. In modern era, without understanding buying behaviour of them, firm would be unable to meet their expectations in a significant manner. By expanding its business at global level and proper applying marketing strategies, Primark will be able to take advantage from the business and grasp market opportunities effectively. Despite of that, by considering different factors such as customer satisfaction level, developing more innovative products and timely communicating with customers at regular time period etc., enterprise can be penetrate more customers towards their brands in competitive arena.

Reference

Books and Journals
Afzal, S. and Khan, J. R., 2015. Impact of Online and Conventional Advertisement on Consumer Buying Behaviour of Branded Garments. Asian Journal of Management Sciences & Education.
Alexander, R., Khonglah, O. and Subramani, A. K., 2015. Customer buying behaviour towards branded casual shoes. ZENITH International Journal of Business Economics & Management Research.
Biemans, W. G. and Hillebrand, B., 2015. Exploring Product Replacement in Business Markets. In Creating and Delivering Value in Marketing. Springer International Publishing.
Calof, J., 2006. The quest for competitive, business and marketing intelligence: A country comparison of current practices. European Journal of Marketing.
Conduit, J. and Mavondo, F. T., 2015. Internal Customer Orientation: Antecedents and Consequences. Springer International Publishing. pp. 208-213.

Download Full Sample

Register With Us to Download

Enter your email id to download the sample you requested

  • img
X
Instant Assignment Help Australia is one of the most trustworthy and reliable assignment writing service in the Australia. We provide all academic writing services at the most affordable price without compromising with the quality. Students from all around the world can seek help for their different academic papers, such as assignments writing, essays writing, dissertations writing, and many more. As a result, no one need to worry about their academic papers, no matter how much complex the topic is. They just need to contact us the earliest and get the best writing assistance within the shortest possible time.
Most Downloaded Samples
  • Market Planning For Services

    Type: Business Plan I

    Published: 08 Apr ,2019 I

    289 Downloads

    Introduction Advertising campaign for a restaurant has become a challenge today when there are so many restaurants in one street. Hence when we talk about advertising techniques it becomes important for us to attract the customers who would walking at out restaurant at least once so that they...ReadMore

    View or Download
  • Marketing Planning

    Type: Case Study I

    Published: 26 Feb ,2019 I

    1649 Downloads

    Introduction Marketing plan is opted by most of the organization. It defines with the business activities which are having impact on the overall performance of the company. Through this organizations can easily attain their target and goals as well. In this activity companies are introduce their...ReadMore

    View or Download
  • Strategic Marketing

    Type: Case Study I

    Published: 07 Feb ,2019 I

    2380 Downloads

    Introduction HAIER is the big corporation group to collective of multinational consumer electronic appliance company. This company design, manufacture, develop and selling the many home products for part of the daily routine of peoples (Wilson and Gilligan, 2012). Its include the air conditioners,...ReadMore

    View or Download
  • Detailed Case study on Social marketing

    Type: Case Study I

    Published: 05 Feb ,2019 I

    2159 Downloads

    Introduction Campaign for the promotion of a product or an innovation in society or market is an important aspect for the betterment of the organisation. The support of the organisational campaign is based on the handling of the media and the support provided by them to make the product or service...ReadMore

    Tags:
    View or Download
  • Benefits of E-Commerce in Food and Beverage Sector

    Type: Assignment I

    Published: 01 Feb ,2019 I

    2465 Downloads

    What is an E-commerce E-commerce plays a vital role in expand the business at local, national and international level. World wide web are created by most of the organisation through which they deliver products or services through online(Falk and Hagsten,2015). The present assignment in context to...ReadMore

    Tags:
    View or Download
Avail Professional Academic Writing Help

If the samples impressed you and you want to place an order with us just submit your queries with us and place your order.

Chat With Expert
Our Salient Features
  • Original Documents
  • Pocket Friendly Services
  • Money Back Guarantee
  • Rigorously Checked Documents
  • Delivery on Promised Date
  • Round the Clock Availability
View All Features
Our Experts
  • Hire HRM Assignment Writer

    Terry Oar My experience in Human Resource Management has all Hire Me

  • Jason Meredith-Chartered Accountants

    Jason Meredith I have ample experience in writing effective acade Hire Me

  • Ryan Gowan- Fashion and Textiles Writers

    Ryan Gowan The students normally face issues with the academi Hire Me

 

Call Us for Live Assistance

Now take our online assignment writing services in Australia.

Order Now
Australian Assignment: We provide Online Assignment Writing & Help Services for all the University Students in Australia, with team of professional writer to deliver quality to students.
Unit 25 Brewery PL
Woolner
Northern Territory
0820
Australia

Get 25% OFF On Your First Assignment Help Order

Select Your Country
Free Inquiry
Request Call Back