Marketing Intelligence

Task 1

1.1 Describe the main stages of the purchase decision-making process

Buyer Decision Making process

Consumer buying decision process of Primark consists of the following steps

Need recognition

Information search

Evaluation of alternatives

Purchase decision

Post Purchase behavior

(Kotler, Armstrong, 2008)

Need recognition: The process begins with need recognition the purchaser feels that he need

to have the particular products or services from Primark in order to satisfy his need. The

purpose for this can be internal stimuli i.e. need to satisfy and external stimuli i.e. products

Ads.

Information search: An intrigued prospect meaning to purchase products will search for

information in regards to different organizations offering those products. He will utilize

sources like web, family, friend and so on.

Evaluation of alternatives : The advertising individuals of Primark need to think about how

different shoppers assess items or administrations well the procedure is difficult to get it.

Here the customers may keep the following purposes of assessment criteria costs, quality, and

brand.

Purchase decision: Normally the customer is want to purchase product which up to most

high amount satisfy his assessment criteria yet even at this stage same element may change

shoppers decisions.

Post Purchase behavior: Consumers purchasing choice procedure does not end with the buy

of the product it draws in itself in post-buy process. This figures out if the purchaser is

fulfilled by item or administration purchased or not. If that fulfilled then great word mouth

will happen and the other way around. Buyers’ fulfillment, disappointment or delightedness

relies on purchaser desires and the product quality perceived performance.

1.2 Explain theories of buyer behavior in terms of individuals and markets

The buying behavior of the customers varies in the different market and for that reason expert

developed different theories of customer buying behavior. According to Czinkota and

Ronkainen, (2012), there are four theories of the buying behavior which is listed in the

following.

Complex Buying Behavior: In this situation, buyers have higher involvement in the

expensive, purchased infrequently, risky, and highly self-expressive product.

Dissonance Reducing Buying Behavior: Highly involvement but looks little contrast between

brands.

Habitual Buying Behavior: Low involvement of customers but little brand differences.

Variety-Seeking Buying Behavior: Have low customer involvement but brand difference is

centrality.

1.3 Explain the factors that affect buyer behavior

Psychological factors

Motivation: Human beings at the same time have many needs.. Some are natural, for

example, appetite, thirst or distress others are physiological, emerging from the need of

recognition, regard, or having a place. A need changed into a motive when its insufficiency is

experienced up to a serious level thus convincing a man to fulfill it. Two well known

hypothes is with respect to motivation were proposed by Sigmund companion and Abraham

Maslow.

Recognition: It is the technique by which person select, compose, and translate data to frame

meaningful picture of the world. For instance, if people perceive a company like Primark as

a good organization so more people will purchase its products as its existing shoppers will

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Realizing: When individuals make a move they learn. Learning is essentially changes in the

people’s behavior as an outcome of experience. It acquires when on communicates with

boosts, signs, reactions and fortification. At the point when one purchase Primark’s products

as well as react to its promotions and in the event that he/she discovered the platitudes of firm

right so shoppers will find out about its products in a positive way and vice versa.

Beliefs and attitude: A beliefs is an expressive imagined that a man has about something. It

might be based upon genuine learning, assessment, or confidence and it additionally could

possibly have an enthusiastic variable. It is of extraordinary significance to any firm

advertisers because it shapes its brand image that modifies buying choice.

Attitudes are comparatively consistent evaluations, feeling, and tendencies toward object or

idea. It structures people liking and disliking patterns. Changing someone attitudes is a very

hard task to perform.

Personal factors

Age and life cycle stage: Choices of foods, garments, and so forth are regularly age related.

Individuals change their purchasing habits with changes in their age. Shopping is also

impacted by the phase of the family life burn the stages through which families may.

Occupation: An individual occupation influence the choice of goods and services bought.

Economic situation: A individual's buying treand is affected by economic situation in a

significant manner.

Life styles: life style is a people expressed in this or her psychographics. People which belong

to same culture, subculture, occupation and social class may have different life style.

Personality and self concept: Personality implies the different psychological factors that lead

to comparatively steady and enduring reactions to one’s own world. Every person different

personality put and effect on his or her shopping pattern. It is usually expressed in term traits

like self confidence, adaptability, autonomy, and aggressiveness.

Many marketers like Primark use a thought identified with identity i.e. “self concept”. The

idea which self concept express is that individual possessions contribute to and reflect their

identities; that is we are what we have. Hence to comprehend your target people psyche first

you must understand the relationship between self concept and possessions.

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1.4 Evaluate the relationship between brand loyalty, corporate image and repeat

purchasing

The brand loyalty, corporate picture, and repeat shopping have solid effect on the upper hand

of Primark in the highly competitive market. The brand loyalty makes consumer loyalty

which is come about the repeat buying of the consumer Douglas and Craig, (2009). In any

case, the brand loyalty, corporate image, administration, cost and administration quality

prompts build the loyal shopper and those reliable shopper is the advantage of a firm who

improve the brand loyalty and corporate image. The brand loyalty will bona fide when the

clients have genuine disposition to make the repeat shopping. For instance, the Primark is

considered as the genuine brand loyalties which have the corporate image in the competitive

market.

Task 2: Use marketing research techniques

2.1 Evaluate different types of market research techniques

One of the key parts of the market sector insight is the market surveying. Through an

appropriately directed market surveying, an organization can get its responses for creating

advertising systems and distinguishing the market sector demands (Hedin, Hirvensalo and

Vaarnas, 2011).

Market surveying strategies are either primary or secondary. Primary strategies are gathering

data from the immediate sources, and the inverse is the secondary method. Be that as it may,

this study would for the most part examine the primary procedures. Also, the exploration

strategies are split into quantitative, subjective and blended methods. At the point when the

numerical information are required and handled, it is quantitative exploration. While textural

informations are required, it's the subjective examination and when they are both utilized as a

part of extents, it is known as the mixed method.

Here is how Primark plans to utilize those techniques. First of all, to a dissect customer base,

customer response and competitors, the organization would go for qualitative research.

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For analysing the company execution, productivity level, sales increase, revenue increase etc.

the quantitative analysis is led.

To evaluate the general organization execution and the effects of PESTLE variables, mixed

procedure is utilized.

2.2 use sources of secondary data to achieve marketing research objectives

Collecting primary information often becomes unnecessary if there are good sources of

secondary information. Here the learner would discuss secondary data sources, aligned with

the company objective. The learner sets these following destinations for the research.

1. Evaluate market performance.

2. Know the competitors.

The selected sources for collect secondary data are;

1. Managerial and financial reports.

2. Previously conducted researches and market surveys.

3. Market Reports.

The administrative and financial related reports are the proofs of the organization's

performances. Previously led inquires about and reviews analyze between the past and the

present. Market reports think about the competitors.

2.3 Assess the validity and reliability of market research findings

Validity and reliability are the qualities that make an exploration fruitful. Validity implies

that the exploration results are convenient to be viable if actualized. Reliability implies that

the exploration has been led in light of precise data and in this way the results can be trusted

(Kelley, 1968).

To survey the reliability of the exploration results, the learner ought to evaluate the data that

has been utilized for the study. What the sources were, by whom the information were

gathered. To assess the validity, the learner ought to evaluate the exploration results

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Primark utilized talented work force for Market research and research. The primary

examination was done in an exceptionally methodical way. Along these lines, the exploration

was qualified to be dependable. The secondary information were gathered from approved

distributions, consequently, the data utilized were for the most part precise.

The examination calendar were set with adaptability additionally inside of a sensible time

allotment, along these lines legitimacy were organized.

2.4 Prepare a marketing research plan to obtain information in a given situation

Background:

The authority has decided to shift onto new market lines and grow it’s develop its market.

Rationale:

Observing the rising competition in the industry and resource potentials made the goal of

growth evident for the organization.

Objective:

To attain 7% growth in revenues, 3% expansion of market and incoming the industry of bag

packs.

Methodology:

First of all, to dissect customer base, customer reaction and contenders, the organization

would go for subjective exploration. For dissecting the organization execution, profitability

level, sales increase, revenue increase etc. the quantitative examination is directed. To survey

the general organization execution and the effects of PESTLE components, blended

examination procedure is utilized. To legitimize the choice of entering sack packs industry, a

careful SWOT examination would be finished.

Data analysis: Data would be analysed with Market and methodological tools.

Timeframe: Must be within three weeks.

Budget: Budget would be set later.

Several stages of this research process No. of Weeks required

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Understanding the Problems 1

Research question development 1

Developing the research methodology 2

Conducting interview on the selected respondents4

Data analysis 2

Interpreting analyzed data 2

Data Presentation 1

final report 4

Task 3: Assessing the marketsize andfuture demand

3.1 Assess market size trends within a given market

The size of the market sector for diverse product offerings are exceptionally particular. At the

point when Primark wishes to enter another market sector portion, it should likewise assess

the size of the market sector it wishes to enter. Market sector size decides a great deal of

issues, for example, the aggressiveness, benefit, scope for gainfulness and so on. For

instance, the market sector of Jeans product is huge and aggressive. As a standout amongst

the most well known garments product, the explanation behind aggressiveness is clear. Then

again, the market sector for child pieces of clothing is demandable additionally moderate.

Primark ought to evaluate the size of the market sector it needs to work in.

3.2 Competitor analysis for a given organisation

To understand the market sector, it is vital to comprehend the competitors. Competitors, if

sufficiently key, can take away an immense piece of the pie from Primark. In this way,

surveying the need the director of Primark thinks of a brief competitors investigation.

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Primark’s competitors;

Risky, Matalan and Peacocks.

Short analysis;

Peacocks: Products are reasonable than Primark. The Market position, Customer ratings 3

out of 5.

Risky: Product are expensive than Primark. Good market status. Good market reach.

Customer rating- 4 out of 5.

Matalan: Cheaper products than Primark. Fair market position. Extensive market reach.

Customer ratings- 3.5 out of 5.

Considering all the data above, Primark distinguishes Risky and Matalan as its nearest rivals.

Be that as it may, because of altered nearby supply and dispersion channels, the organization

has kept itself in a superior position than the others.

3.3 Primark’s opportunities and threats or a given product or service

The management of Primark as of late has chosen to grow its market sector by going into

another market sector portion. Considering the opportunities and assets, the organization

expects to enter the market of bag packs.

SWOT analysis, for starting market in the bag pack market;

The strengths,

1. Links with local suppliers of raw materials.

2. Customers poise on the company.

3. Internal growth potential of Primark.

Weaknesses,

1. New industry.

Opportunities

1. Sufficient resources for entering a new industry.

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2. Established brand image.

Threats

1. Existing companies.

Scenario of UK’s shoe industry;

Various famous organizations work the bag pack market in the UK. They are known for their

top of the products. Their uniqueness is that their items are made with unique cowhide.

Which additionally makes their items really costly.

The external factors does not influence the shoe industry much. The stable political and

lawful environment in the UK are steady and do not affect the market.

In any case, there are late environmental issues that are representing a risk on the calfskin

things. More than that overall expansion has cut the requests for extravagant costly things.

Therefore, the industry is presently moving to options for cowhide with which they can even

now convey top of the line products.

Opportunities and threats in this industry for new companies;

Bag packs made of top of the line material are getting demandable. It is an open door for

garments industry organizations to move into the Shoe industry. They can create top of the

line items as well as they can convey them at reasonable costs.

Task 4: Measure customer satisfaction

4.1 Techniques of assessing customer response

Customer response help Primark to think about their requests, desires and protests. Without

appropriately assessing the customer responses, the organization can't give a decent

conveyance to the market sector. There are different methods for evaluating their reactions.

Customer reviews, phone reactions, email communication are the few of them (Tracy, n.d.).

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Utilizing the specified specialized devices, the customer reactions are gathered. And

afterward they are sent to the top administration. There the supervisors listen to what the

customers said, and there they think of them as.

The most appropriate tool for gathering customer response in a greater point of view, is the

overview. Be that as it may, to make an overview viable, it should be legitimately arranged.

There are diverse sorts of polls that can be utilized for studying. Open finished, close

finished, - however it wise to prepare to set up a survey with both types of inquiries in a

decent extent.

4.2 Customer satisfaction survey

1. What is your age?

18 to 24

25 to 34

35 to 44

45 to 54

55 to 64

65 to 74

75 or older

2. What is your approximate average household income?

$0-$24,999

$25,000-$49,999

$50,000-$74,999

$75,000-$99,999

$100,000-$124,999

$125,000-$149,999

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$150,000-$174,999

$175,000-$199,999

$200,000 and up

3. How well did our customer service representative answer your question or solve your

problem?

Extremely well

Very well

Moderately well

Slightly well

Not at all well

4. How professional is our company?

Extremely professional

Very professional

Somewhat professional

Not so professional

Not at all professional

5. Do you like our company, neither like nor dislike it, or dislike it?

Like a great deal

Like a moderate amount

Like a little

Neither like nor dislike

Dislike a little

Dislike a moderate amount 10 | P a g e

Dislike a great deal

6. How likely is it that you would recommend this company to a friend or colleague?

Not at all likely extremely likely

7. Compared to our competitors, is our service quality better, worse, or about the same?

A great deal better

Quite a bit better

Somewhat better

About the same

Somewhat worse

Quite a bit worse

A great deal worse

Don't know

8. Overall, how responsive has our company been to your questions or concerns about

our service?

Extremely responsive

Very responsive

Moderately responsive

Slightly responsive

Not at all responsive

Not applicable

9. What does this company do really well?

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10. How would you rate the quality of the product?

Very high quality

High quality

Neither high nor low quality

Low quality

11. How professional is our company?

Extremely professional

Very professional

Somewhat professional

Not so professional

Not at all professional

12. How would you rate the quality of the product?

Very high quality

High quality

Neither high nor low quality

Low quality

Very low quality

13. What do you like most about our new service?

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14. How long have you been a customer of our company?

This is my first purchase

Less than six months

Six months to a year

1 - 2 years

3 or more years

I haven't made a purchase yet

15. What do you like most about competing services currently available from other

companies?

4.3Success of a completed survey

One of the primary role of the market sector knowledge is the market survey. Through a

legitimately led market survey, an organization can get its responses for creating promoting

systems and distinguishing the market sector demands(Walle, 2001).

Along these lines, at last the scientist needs to survey the achievement of his examination. To

do that he must break down the aggregate buyers survey, percentage of them responded, the

areas secured under the s survey and the demography.

Here the exploration overviewed 900 customers from 20 distinct areas scattered at diverse

districts; the surveyed were of distinctive class, age and sexual orientation, similarly

distributed.

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The percentage of response were 90%, and the individuals who reacted, did it deliberately.

Therefore, the analyst infers that the research has been fruitful. Furthermore, the data were

dependable.

Conclusion

So far the learner had tried to apply his knowledge of marketing intelligence in this task

work. Marketing intelligence is the study of crucial marketing factors that helps establishing

marketing strategies, plans and objectives. The study had a lot to cover. The buyer behaviour

assessment, conducting market research, assessing the size of market and finally getting and

evaluating customer responses on the company’s product and overall service factors. The

effectiveness of the activities of the marketing department lies upon the proper

implementation of marketing intelligence. Therefore, in order to complete his learning of this

course, the learner had done a critical task work on the subject based on the company

scenario of Primark GB.

The learner had gone through some researches and checked some resources to understand the

application of marketing intelligence in the scenario of Primark GB. Primark GB is a one of

the renowned clothing retailers of the UK, especially known for their affordable and good

quality products. The company’s strategies are very simple- buy raw materials from local

retailers; this way lower the product cost but increase the quality and then sell them with an

affordable price tag. It has its competitors, and it needs to sustain in its market position. And

here it needs the proper knowledge on marketing intelligence. Through an organized research

on the company, the learner had tried to understand what the few of the things are that helps

Primark to successfully compete with its competitors. Despite a few limitations of the

complete knowledge on this scenario, the learner had tried his best to draw upon a

satisfactory conclusion.

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