Executive Summary According to this marketing research plan and report, in order to successfully convert Manor House into a business for green weddings, it is critical to assess the market needs and potentials. The use of questionnaire, personal interviews, and focus groups has been suggested as preferred methods to acquire data and develop the insight into looking at what market dynamics are at play…
More and more consumers are shifting their buying patterns and are aligning them with the ethical consumption which caters for the requirements of environment. (Joergens, 2006) As consumers are becoming more ethical in nature, they expect the firms which they deal with to act ethically, too. Showing concern for environment and protecting it are also important ethical issues. (Bezencon and Blili, 2010) New and renewed concern for the environment is translating itself into unique consumer buying decisions. There is a growing trend where consumers also tend to prefer to do their weddings in a manner which supports the environment. The overall market of green weddings is on the rise, as people are showing more concern for the environment and are willing to act as eco-friendly stakeholders. (Grant, 2008) The existing location Manor house and its overall proximity with the nature can really prepare it to cater to the needs of customers who need green weddings. However, in order to know whether consumers will be willing to do business with us and utilize our green wedding facilities, it is important to perform a system marketing research and review to understand the trends. ...
In order to particularly cater to the needs of customers looking for eco-friendly places to perform their weddings, it is critical to develop cross-selling opportunities so that consumers can get a complete shopping experience. (Askegaard and Bengtsson, 2005) In order to understand the dynamics of the market and to understand consumers’ buying behavior, it is important to perform a market research. In order to develop a comprehensive marketing plan, it is important to perform external and internal analysis of the environment in which this proposed business will operate. External Analysis Political Environment Political environment in UK is stable, with government being supportive of establishing free enterprises. Laws are being made in a manner which is supportive of the firms, with little or no interference from state into the affairs of the firms. There may be no risks of political destabilization which can actually result into significant threats and risks for business. Economic Environment The economy of the UK is experiencing economic downturn and is not experiencing the required level of economic growth. Low economic growth and the depressed future outlook, therefore, are adversely affecting the consumer confidence. Low consumer confidence may result into low consumer buying activity and hence can reduce the demand for new services and products. Consumers prefer to save rather than spend, causing suppression in consumer spending and demand. Social Factors As discussed above, trends are suggesting that society as a whole prefers to conserve the environment and give more credibility to the firms which enhance the environment and protect it. Consumers are becoming more aware of ...
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(Marketing Intelligence Essay Example | Topics and Well Written Essays - 3500 Words)
“Marketing Intelligence Essay Example | Topics and Well Written Essays - 3500 Words”, n.d. https://studentshare.net/marketing/8143-marketing-intelligence.
In order to provide decision makers with the appropriate marketing intelligence, it is essential to carefully select and apply a variety of tools and techniques, and then to suitably analyse and interpret the information. To ensure organisations are competitively and customer focused, it is imperative that they fully understand the information that is required for analysis.
Qualitative Research: This type of research is subjective in nature and can take into account even those factors which are difficult to express with the help of mathematical models or in numerical terms. Factors like human preferences, attitudes, beliefs or perceptions can also be explored with the help of this type of research study.
Consumer buying behaviour can be defined as the acts and decision processes that people undertake when purchasing and using products. This behaviour is usually influenced by personal and psychological attributes of an individual. Social factors such as
Actually marketing is a management responsibility. Thus its implementation should not be left to junior staff members only. It takes a lot of effort to co-ordinate, plan and implement campaigns. Marketing campaigns primarily aim at creating customer’s
The company has done reasonably well in its niche market, and CEO, Dunkerton was placed in a list of Britain’s top richest people by The Sunday Times in 2010. Supergroup was one of the most successful stocks in 2010 on the
nd; in the absence of a competition, they should focus on expanding their clientele and introducing new designs in order to keep the clients interested. They should take advantage of this void of external pressure, and can afford to experiment.
The decision maker in this case, therefore, has to equip themselves with ample information on these factors so as to plan ahead comfortably as well as to establish the consequence these factors may inflict on the internal activities of the organization as well as its market.