MARKETING

Buyer Behavior and Market Research

Buyer Behavior and Market Research

Introduction

In order to successfully run the business, it is imperative that the company studies consumer behavior in detail. The company can design and develop products according to the needs and wants of the consumer. It helps them to develop a strong brand and also assist them in generating significant revenues. Unilever is one great example of such a company, which lays strong focus on market research and studying the consumer behavior. In this paper, we will determine how Unilever focuses on this factor and conduct market research to develop products that cater to market needs.

Unilever

Every day around two billion people use Unilever products around the world. These products help them to look good, feel good, and get facilitate in everyday life. With over 400 brands, Unilever touches many people lives in different ways. The company manufactures health care, home-care and, food products. Axe, Dove, Lux, Lipton, Knorr, Hellmaan's, TIGI etc is some of the famous brands in USA. Unilever was established in the year 1890. Since the establishment, Unilever engages in corporate social responsibility.

It enjoys market in 180 countries. Unilever spends $ 1.4 billion on R&D department every year. Unilever wins trust of consumers. With the help of R&D, Unilever manufactures new and better products across the globe. Strong firsthand knowledge of local market and culture made diversity possible. Unilever focuses on productivity and performance. They encourage people to communicate innovative ideas and made them into practice. Unilever believes in integrity with their customers, employees, suppliers, and other stakeholders. They worked diligently to become one of the leading manufacturing companies of fast moving consuming goods. Unilever respects all the culture, and that is the reason why they became world-class business supplier, and cater consumers around the globe. They are the market leader and innovators, and made other organizations follow them (Maddox, 2005, pp. 28-28).

Unilever Strategies

Being a multinational organization, Unilever focuses on identifying, planning, developing and implementing strategies. These strategies can boost the company's performance and growth. The target that attracts Unilever doubles the size of the business. Unilever focuses on aim to double the size of their business with the reduction of environmental impact. To accomplish this aim, the company has placed a renewed focus on the consumer and customer and on driving culture. This is called Unilever's compass strategy. The company owns statement to have desirable people with appropriate skills. The core part of Compass Strategy is to win the people. The company believes in reshaping organization by developing necessary talent and skill. Unilever pursues the strategy of vertical diversification.

Previously Unilever was producing itself now Unilever is deviating from conventional complexity processes. It seems hard for Unilever to produce 400 brands under one roof. With same standards and specifications, the company wants their supplier to manufacture products for them. This strategy will help Unilever to go more diversify and compete in the market. Unilever goes for the related diversification. Unilever wants to implement the strategy of cost ...