MARKETING INTELLIGENCE

Marketing Intelligence



Marketing Intelligence

Introduction

The fashion industry is a major economic activity. This industry represents around 6% of world consumption in all sectors, with 1,400 billion in 2008. The automotive sector weighs a little less than 4% of world consumption and telecommunications, equipment and services represent only 3%. Beyond its importance as an economic activity, fashion is also a singular purpose, at the intersection of art and industry. The fashion industry has become a great opportunity to start business, because of annual multi-billion dollars return (Schiffman, 1993, 117). Fashion industry has become a great industry for investment because it is Fashionlabel. It is true that the fashion industry is undoubtedly one of the most moving, their incomes are millionaires and every day the market is wider, because there are big luxury firms selling luxury price, while others sell the idea that luxury price. It is not just designing clothes. Fashion biannual New York, London, Milan and Paris are an opportunity for designers and fashion designers in the world to reveal their artistic talents and dazzle spectators, fashion houses are daily faced with very concrete decisions, such as setting their prices, the geographical location of their plants, defining their distribution channels or setting up their campaigns. These decisions are very close to those that can be taken in other industries, a priori somewhat similar, such as automotive or telecommunications, where companies are also faced with decisions of production and distribution.

As an industry, fashion is characterized by a fundamental duality, since it is both economic activity and artistic activity. Thus in order to get profitable and effective outcomes it is important for a fashion company to have marketing intelligence. Marketing intelligence is the information related to the market of the company, that information is analyzed and gathered specifically for the purpose of confident and accurate decision making in determining market penetration, market opportunity strategy, and market development matrices. Fashion has struggled to establish itself as legitimate research topic because of its complexity and ambiguity. In this paper I am going to study marketing intelligence of fashion industry in order to increase profitability of ABC fashion outlet. The purpose of this paper is to let readers know about the effectiveness and significance of market related information in company's and industry's progress.

Task one: Understanding buyer behavior and the purchase decision-making process

Sales person sell products to different type of consumers including business enterprises, consumers, institutions, and government agencies. In this part of the paper I being a consultant for ABC fashion house going to discuss important stages of decision making process for individual and organizational buyer with the help of theoretical framework, explain factors affecting buying behavior of individual and organizational purchaser and in the end going to write a report to CEO of ABC fashion house by evaluating the relationship between brand loyalty, corporate image and repeat purchase.

Main stages of the Purchase Decision-Making Process for individual

Consumers daily take many interrelated decisions, making selection of options making the purchase, use and disposal of ...