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Marketing Intelligence - Assignment Example

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Running Head: Marketing Intelligence Marketing Intelligence Table of Contents Table of Contents 2 Introduction 3 Buying Behavior 4 Future Demands & Market Size 5 Conclusion 6 References 8 Introduction In today’s world, selling is all that counts…
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Marketing Intelligence

Download file to see previous pages... The employees are dedicated and take pride in their work, adding to the goodwill and pleasant workplace aura. However, the uncertainty of future is yet to be explored. Therefore, a profound analysis of its customer profile, theories of buyer behavior and future outcomes are a grave necessity (McDaniel, 5, 1998). At the outset, Superdry is a clothing company whose most important and popular products are hoodies jackets. Besides, it also manufactures a range of different clothing such as t-shirts, shorts, and various men and women clothing. Superdry has been in the market for the past 11 years and has been remarkably successful in establishing a strong brand loyalty. However, this report will dive into more subtle complexities of business and explore the ways in which market for Superdry products can be increased or at best, kept constant. For that, it is crucial to first look into several important notions like customer profile, factors that affect the purchase of Superdry products and the behavior of buyers in general. The customer profile for Superdry is mainly European and North American homemakers (Egner, 19, 2009). The Western middle-class stay-at-home wives and mothers are the primary customers of the Superdry. These women are partially or wholly dependent on the incomes of their husbands. In addition, the products of Superdry are more popular and in fact aim at the lower and lower-middle classes owing to their affordable prices and extra-strong concentration. Since the products of Superdry are majorly domestic, they are categorized as provision. Researches show that most families buy the said products along with the grocery and other provision in the beginning of the month i.e. when the earning members usually receive their salaries. However, the sideline products like clothing are targeted to a completely different market. Since the target market for clothing as affordable as Superdry is middle class, it is unlikely that these people, barely above the poverty line, use hoodies jackets instead of shirts. For these slightly elitist accessories, the customer profile moves up the class slope and comprises the working career-oriented men and women like doctors who need such clothing. The frequency of purchases in this category depends on the number of family members. This way, these products may be purchased thrice in a year , which is double the purchase of usual clothing. Buying Behavior Now that the customer profiles for different products are clear and elaborated, it is imperative to dwell into the buyer behavior and analyze different types of buyers and their relation to the products in discussion. To begin with, the buyers’ behavior is categorized into four types, which are in relation to the type of the product they intend to purchase. First is complex buying behavior that deals with the high value, branded purchase for which the buyer makes a lot of information search. Second is habitual buying behavior, which deals with the purchases that are used in daily routine and part of the buyer’s habit like newspaper etc. third is variety seeking buying behavior, which occurs when buyers look for, and experiment with different brands (Hoyer, 195-212, 2009). The last, dissonance-reducing behavior is when the buyer is very much involved in the purchase because the cost he is paying is very high such as a laptop. In this case, of domestic and cleansing products, the buyer’ ...Download file to see next pagesRead More
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