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Marketing is the practice of exchange of goods and services from supplier to buyer and this can take place with numerous forms. Marketing intelligence is the practices through which everyday information related to company’s markets can be collected for the purpose of taking accurate decisions (Slater and Olson, 2001). This also aids business in determining market opportunities and development possibilities. Hence the present research report has been developed on Sainsbury which is one of the largest retail organizations in UK retail market. The research has been stating main stages of purchase decision making process and the theories that are related to buyer behavior. Furthermore different factors that influence behavior of buyer are also discussed and alongside the relationship of brand loyalty, corporate image and repeat purchasing is also described. Sainsbury has been operating business adequately merely because the business has been using numerous techniques for market research in which some are mentioned in the present study. Sainsbury has been using secondary data so that validity of research techniques can be stated, hence for that appropriate marketing plan is discussed. Researcher has conducted survey in which preferences and customer loyalty factors have been assessed.
While purchasing any product, individual goes with different stages which lastly assist him to undertake decision whether to buy or not. Here the major stages are mentioned as under:
Need recognition: Need recognition is the first and most important stage in buying process. If there is no need then there is no purchase. It is the desire of any product or service only that leads individual to purchase any product. Here Sainsbury identifies needs of customers so as to bring requisite products and services for them.
Information search: Customers always prefer to have variety of products and services and for that they visit to different places. Hence after the identification of need, customer goes for various alternatives (such as different market places, diver pricing options and so on) so that to the demand for a particular product can be satiated (Nwokah and. Ahiauzu, 2009).
Evaluation of alternative: At the next stage, customer takes decision to select the best option amid all. At the subsequent stage, customer decides if he is ready to pay specified amount for the product. It has been observed that a slight variation in prices changes the entire scenario of purchase and it ultimately results to customer switch over.
Purchase decision: Here at this stage, it is requisite for the consumer to select the product that can satiate his desire. His decision actually depends on the information derived about alternate products and services (Novicevic and et.al., 2004). After then it proceed to the actual purchase itself.
Post purchase behaviour: Once the product is purchased and used, the consumer will evaluate the adequacy with his original needs. At this stage, the business can analyze if the product is able to sustain in competitive market place.
Through buyer behavior, the actual thoughts of individual can be analyzed and this also reflects capability of products in attracting customer’s mindsets. Some authors have given adequate theories to the concept of buyer behavior which is being stated as under:
The utility theory of demand: In the year 1870, William Stanley Jevons has introduced the theory which explains behavior of consumer that he derives after consuming ultimate products and services (Zhou and Chuah, 2000). The theory assumes that satisfaction rate of consumers can be measured in terms of units consumed and also through repeat purchase. As per the theory, unit of measure can be denoted as utils and consumer satisfaction can be measured by total utility and marginal utility.
Cultural theory of buying behavior: The theory states that individual needs gets changed as per the cultural factors prevailing, hence it is essential for the company to consider social and cultural beliefs of customers. As per the theory, any company who considers social value is termed as capable of retaining customers.
Indifference preference theory: Vilfredo Pareto has developed the theory and he called it as a modern approach of analyzing consumer behavior (Sultan and Simpson, 2000). The subsequent theory states consumer behavior in term of consumer preference for the combination of various goods and services depending on the nature of goods and services. As per the theory, consumer behavior cannot be rated in terms of customer satisfaction as it emphasizes on preferences of
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