Businesses want information to make decision about their management as well as specify their strategy to survive in market. Managers need to access, develop, analyse and distribute information to help them making decision. Marketing research is the way to gather information in area that link to consumer to figure out what they want to contribute company opportunity in market as well as organization developing because of uncertainly market need. There is several method of marketing research that company can use for improve their products or services. Depending on analysis procedure, qualitative research and quantitative research are used to highlight.
Chapter 2 Literature review Theories The theories discussed in this research are the marketing mix theory. Basically, there are four elements of marketing mix theory which can influence customer purchasing decision on notebook such as product, price, place and promotion. The marketer should carefully analyze the customer behavior on buying a notebook and find and implement the suitable marketing mix strategies into their product marketing. Furthermore, marketer should know how exactly the implementation of their marketing mix strategies can influence their customer purchasing decision. Product is one of the elements in marketing mix strategies and it is explain as an object or a service that is mass produced or manufactured on a large scale with a specific volume of units.
Sales is continuously changing and innovating. There are internal and external factors that can have an effect on how your sales strategy is set up. For example customers; customers are what you need in order to profit.(pg. 5) Your customers are what drives the business, so in order to become successful you need good customer relationships. Sales managers need to look at the overall environment as well.
Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders. I will look upon on establishing customer needs, methods of analysing marketing opportunities, and the m... ... middle of paper ... ...ons can exert a major influence upon the stores’ accessibility and attractiveness to consumers. Planning the selection process as carefully as possible and using methods described should maximise the success. Marks and Spencer pays particular attention to social and geodemographics, along with consumer spend, before deciding on a location. Own brands are desirable products to offer, as they offer profitable margins and a high level of control over the marketing aspects of management.
According to this approach, consumers are considered users of information that they obtain from external sources. Then, through their emotions, they filter that information and make the decision of which product they would like to buy. The Cognitive Approach changed continuously, offering an analytical tool for understanding consumer behavior. It has created somekey insights into determining consumer patterns. The studies concerning consumer behavior helped scholars of the management field to develop new management and marketing tools in order to attract customers.
In present scenario, the study of consumer behavior has become essential and quite complex.Consumer is a person who desires,needs and requires marketing components in their capacity as buyer. Therefore,consumers are the kings of markets.According to Yakup D etc al, 2011 researcher found that marketer may influence their buying behaviour but not control.Customer behavior study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer.Moreover,consumer behavior is the study of the processes involved when individuals or groups select,purchase,use,or dispose of products,services,ideas or experiences to satisfy needs and desires.Product define as a good, service, or idea consisting of a bundle of tangible and intangible attributes.In marketing, consumer products categorize into four types which is convenience products,shopping products,specialty products,unsought products.Shopping products means consumers often care about brand names when they’re deciding on shopping goods.In fact,they will make an effort to compare and select a product.Buyers might visit multiple retail locations or spend a considerable amount of time visiting Web sites and reading reviews about the product, such as the reviews found in Consumer Reports.Clothing products,mobile phones,
Moreover, marketer needs to advertise it and sustain a product on a market among its competitors. Further, the study indicates intentions of consumers to buy or not to buy certain products. Moreover, it represents motivation theories and what is to be considered to influence customers. Basically, marketers need to consider various psychological factors before launching a product. Before establishing a market, products undergo different analyses, various motivational theories (Maslow’s hierarchy of needs, trio of needs), cognitive learning theory, customer perceptions, consumer buying behaviour, moments of truth, customer relationship groups, external and internal factors, advertisements, promotions, sales and other tools that makes a difference on customers’ minds.
Consumer psychology is an important part of current society. The reasons behind why products are in some areas and not others are determined by consumer psychology. Businesses must decide what to sell. They must also decide how and where to sell their products. Psychological concepts assist businesses in making decisions and discovering the best options available to them.
The study of consumer behavior and consumer behavior research process is as significant as the marketing research process to the business firm(s). The study of consumer behavior can be useful in identifying the unsatisfied needs of the consumers or market segment(s) and satisfying those needs with the market offering(s), with profitability. The consumer behavior research can be quantitative or qualitative. The consumer behavior qualitative research with small samples, and personal interviews and focus group is exploratory in nature and can become the basis for quantitative studies with larger samples with primary data collection methods like experiments, observation and
Marketing allows organizations to get their products recognized and desired by consumers. (Oppaper, 2006) In order for businesses to understand the needs of the customer, businesses need to implement a marketing strategy. A marketing strategy identifies customer groups which a particular business can better serve than its target competitors, and tailors products offering prices, distributions, promotional efforts and services toward these market segments. Ideally, the strategy should address unmet customer needs that offer adequate potential profitability; a good strategy helps a business focus on the target market it can serve best. (SBA Marketing Basics, 2007) A company's financial success depends on marketing.