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Marketing intelligence - Essay Example

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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…
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Marketing intelligence
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Marketing intelligence

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 ... Read More
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