Btec Level 5 Hnd Diploma In Business Unit 33. Marketing Analytics And Insights.pdf

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<b> ASSIGNMENT 1 FRONT SHEET</b>

<b>QualificationBTEC Level 5 HND Diploma in Business</b>

<b>Unit number and titleUnit 33. Marketing Analytics and Insights</b>

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<b> Summative Feedback:  Resubmission Feedback:</b>

<b>Internal Verifier’s Comments:</b>

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<b>Signature & Date:</b>

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<i><b>I. Introduction...3</b></i>

<i><b>II. Understanding customer behaviours, customer decision-making process and customer journey mapping...4</b></i>

<b>2.1.Introduction to the concept of customer behaviour and influences on customer behaviour...4</b>

<b><small>2.1.1.Concept Customer Behaviour...4</small></b>

<b><small>2.1.2.Influences on customer behaviour...4</small></b>

<b>2.2.An overview of the customer decision-making process...5</b>

<b>2.3.Discussion about the importance of mapping a path to purchase and understanding consumer decision-making...7</b>

<b><small>2.3.1.The importance of mapping a path to purchase...7</small></b>

<b><small>2.3.2.Understanding consumer decision-making...8</small></b>

<i><b>III. Analysis of the Jollibee...9</b></i>

<b>2.4.Explaining the characteristics of customers and define the customer insights...11</b>

<b><small>2.4.1.Define the customer Insights...11</small></b>

<b><small>2.4.2.The customer characteristics and customer insights of Jollibee...11</small></b>

<b>2.5.Examining the stages of the customer decision-making process...12</b>

<b>2.6.Mapping customer journey and important touch-points...14</b>

<b>2.7.Design a customer experience strategy, selecting appropriate techniques to enhance customer experience to meet marketing opportunities...16</b>

<i><b>III. Conclusion...17</b></i>

<i><b>References...18</b></i>

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<b>I. Introduction</b>

The author works for Jollibee Vietnam as a marketing manager. The organization must acknowledge thenecessity of understanding customer insights to assess the total customer experience in the context ofdigital innovation and technology, customer shifts, and competitive pressure. The principal duty of theauthor is to perform an exhaustive examination of customer insights in the particular context of theorganization. In this report, the author will examine important facets of customer behaviour, closelyexamine the different phases of customer decision-making, and review and update the customer journeymapping. A thorough analysis of Jollibee's circumstances will be covered in the next section.

<b>II. Understanding customer behaviours, customer decision-making process and customer journeymapping </b>

<b>2.1.Introduction to the concept of customer behaviour and influences on customer behaviour2.1.1. Concept customer behaviour</b>

Consumer behaviour is the study of consumers and the strategies they use to choose, use, and discardgoods and services as well as the ensuing behavioural, emotional, and mental reactions. Understandingcustomer behaviour is crucial for businesses to create effective marketing strategies that can influenceconsumers' decision-making processes. By analyzing consumer behaviour, businesses can identifyemerging trends, enhance client loyalty, and focus their marketing campaigns on certain demographics.Additionally, by employing this data, businesses can adapt to changing customer preferences and stay onestep ahead of the competition (Radu, 2023).

<b>2.1.2. Influences on customer behaviourMarketing campaign</b>

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Marketing campaigns have a big impact on decisions about purchases. If executed properly, regularly,and with the appropriate marketing message, they can even persuade consumers to choose moreexpensive alternatives or switch companies. One method that marketers may help customers remember topurchase recurring products and services that they may not always think about is by using Facebookadverts for e-commerce. Strong marketing messages have the potential to impact impulsive purchases(Radu, 2023).

<b>Economic conditions</b>

Economic issues are important, especially when it comes to expensive things. Customers are known to grow moreconfident and ready to indulge in purchases in a robust economic environment, regardless of their financial

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obligations. The decision-making process is more subjective and takes longer for more expensive products (Radu,2023).

<b>Personal preferences</b>

Personal traits such as priorities, values, morality, and preferences can also influence consumer behaviour. Inindustries such as fashion or food, personal opinions carry great influence. While there is no denying thatadvertisements can influence behaviour, in the end, customer preferences play a significant role in their choices.They will not start eating meat because they are vegan, regardless of how many commercials for burger restaurantsthey see (Radu, 2023).

<b>Group influence</b>

Peer influence also has an impact on consumer behaviour. Influential people in our lives such as friends,family, coworkers, neighbours, and close friends can have a big impact on our decisions. Socialpsychology affects the conduct of consumers. One example of this would be selecting quick food overhome-cooked cuisine. There are mutually reinforcing social and educational factors (Radu, 2023).

<b>Purchasing power</b>

The amount of money we can afford has a big impact on how we behave. Unless the are a really wealthyperson, they will consider your budget before making a purchase. They will not purchase a product if theycan not afford it, no matter how good the product is or how well the marketing is done. By segmentingconsumers according to their purchasing power, marketers will be able to find qualified customers anddeliver better results (Radu, 2023).

<b>Psychological factors</b>

Psychological factors profoundly impact consumer purchasing decisions by delving into the workings ofthe human mind. Motivation serves as a core element, driving individuals to satisfy innate needs such asstatus or self-esteem. Learning, shaped by past experiences and external stimuli, influences preferences,

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as seen when consumers opt for familiar brands based on effectiveness. Attitudes and beliefs, cultivatedover time, shape personal viewpoints on products or brands, leading to choices aligned with values likeenvironmental conservation. Perception, the individual's unique lens through which information isinterpreted, varies among consumers, influencing how they respond to marketing messages. Marketerscan leverage an understanding of these psychological nuances to tailor resonant messages and strategies(Aggarwal, 2024).

<b>Social factors</b>

Social factors have an inherent influence on our purchasing decisions because we are social creatures. Weare inclined to emulate others and strive for approval from our social networks. Our preferences are

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greatly influenced by our family because we watch and emulate their product choices while we are young.We are inclined to follow suit, for instance, if our family decides that Papa Jones is better. Throughcommon patterns and powerful leaders, reference groups which include clubs, schools, and friends alsoaffect our purchasing decisions. Furthermore, our social roles and standing influence our shopping habits;individuals in higher positions typically have distinct purchase habits from those (Rangaiah, 2021).

<b>Cultural factors</b>

Culture, subculture, and social class play significant roles in shaping consumer buying behaviour.Culture, the core determinant of desires and actions, exposes individuals to values like achievement,efficiency, individualism, and material comfort, among others. Subcultures, within larger cultures,provide more specific identification and socialization based on factors such as nationality, religion, andgeographic location. Companies often tailor marketing strategies to cater to these subcultures when theybecome sizable and affluent. Social classes, comprising relatively homogeneous groups with sharedvalues and behaviours, are hierarchically ordered. In the United States, social classes are traditionallycategorized into seven levels, each with distinct product and brand preferences, ranging from lowerlowers to upper uppers (Rangaiah, 2021).

Rangaiah (2021) identifies five main factors—psychological, social, cultural, personal, and economic that have an impact on consumer behaviour psychologically - it will cover attitudes, beliefs, claims, andperceptions (Rangaiah, 2021). Culture refers to the ideas, values, and behaviours that are adopted andshared by the people that make up a community. Our purchasing behaviour is influenced by social factorssuch as social positions and statuses, family dynamics, and reference groups (Rangaiah, 2021). Person al- encompass demographics, as well as the views, hobbies, and lifestyles of the customers. Economic -Consumers are more likely to make purchases in a strong and booming economy, while a weak economy

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-suggests a squeezed market with lower purchasing power and unemployment (Rangaiah, 2021).Furthermore, a variety of factors, such as cultural norms, advertising campaigns, and personalpreferences, might have an impact on consumer behaviour (Storyly, 2023). Businesses may enhancebrand loyalty, more effectively target groups, and identify emerging trends with their marketing initiativesby gaining insight into customer behaviour (Storyly, 2023).

<b>2.2.An overview of the customer decision-making process </b>

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<i><b>Figure 1: Customer decision-making process (Anjali, 2022)</b></i>

When a consumer makes a decision, they often go through the following five stages: need recognition,information search, alternative evaluation, purchase decision, and post-purchase behaviour. Everyconsumer doesn't need to force themselves to complete every stage, though. Given that the type andqualities of the goods a customer wants to buy determine his decision (Anjali, 2022).

<b>Need recognition: When a customer recognizes that he or she needs a specific good or service, the</b>

purchasing process officially starts (Stankevich, 2017).

<b>Information Search: Search engines are frequently used by customers to find solutions when they</b>

become aware of their issues. At this early stage of the customer journey, informative blogs assistconsumers in figuring out how to resolve their issues (Stankevich, 2017).

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<b>Evaluate alternatives: Customers will compare different goods and services to decide which best meets</b>

their needs. This entails contrasting and evaluating the attributes and advantages of alternative goods andservices (Stankevich, 2017).

<b>Purchase decision: The consumer will decide whether or not to purchase a product after gathering all</b>

relevant information, such as details about the product, the price, and reviews from prior buyers(Stankevich, 2017).

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<b>Post-purchase behaviour: During this phase, buyers and sellers discuss their thoughts on the item that</b>

was bought. Customers may actively post a review on social media, refer others to the product or service,or make a return if they believe their purchase was beneficial (Stankevich, 2017).

<b>2.3.Discussion about the importance of mapping a path to purchase and understandingconsumer decision-making </b>

<b>2.3.1. The importance of mapping a path to purchase</b>

The path that customers take from the moment they realize they need or want a certain good or serviceuntil they make up their minds and complete the transaction is known as the path to buy. When customersinteract with the business, this trip takes place on the website as well as through every other channel. Sixsteps make up the path to purchase: awareness, consideration, preference, action, retention and advocacy(Beyounotthem, 2024).

<i><b>Figure 2: Path to purchase (Beyounotthem, 2024)</b></i>

Marketing initiatives, customer preferences, outside influences, and the whole shopping experience aresome of the variables that impact the road to purchase. To properly guide customers through each stage of

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the purchasing process, businesses must comprehend this path to modify their marketing strategies andenhance the entire customer experience. According to Steuer (2018), it helps those who are producingcontent choose the kind of material that is needed and the best course of action. It gives designers insightinto how people view the entire experience. For user experience to alleviate client annoyances (Steuer,2018). However, for B28 businesses, the buying journey provides crucial sales insights that helpsalespeople understand designers. It can also identify areas of friction in the user flow, identifynavigational gaps, and shed light on the challenges and motivations of buyers, helping them stay one stepahead of the process (Ray, 2023).

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<b>2.3.2. Understanding consumer decision-making</b>

Understanding the decision-making process of customers is essential for businesses as it allows them toanticipate their requirements and create marketing or sales strategies that meet those needs (Cerejo, 2019).Additionally, the business can provide more suitable marketing materials and distribution techniqueswhen a client views a need. These could lead to greater market penetration and higher profits (Cerejo,2019). Additionally, you can create distinctive sales and marketing strategies that draw in a biggerclientele and persuade them to choose your goods over those of your rivals by studying the buying habitsof consumers in your sector (Cerejo, 2019).

The study will offer other insights into the decision-making process, such as Simon's decision-makingprocess and the Nicosia model, to help readers have a deeper knowledge of the decision-making processof customers.

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<i><b>Figure 3: Simon's model of the process of decision-making</b></i>

According to Marković (2018), Simon's Decision Making Theory comprises four stages: Intelligence,Design, Choice, and Implementation. It provides a framework that gives the world a more realisticviewpoint. Simon suggests that there is never a single best path of action or choice, in contrast to classicalthinkers. This results in a constant quest for a better course of action or decision because of the inherentlimitation of not having all the facts about a scenario (Marković, 2018). Nicosia's model is a structuraldepiction of how a family or a lone customer makes purchasing decisions. This model illustrates theinteractive relationship that exists between the company and the client. They arise so that they cancommunicate with one another: customers communicate with the company through purchases, and the

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business communicates with its clients through marketing campaigns (Marković, 2018).

<b>III. Analysis of the Jollibee</b>

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<i><b>Figure 5: Jollibee, 2024</b></i>

Jollibee fast food restaurant under the management of Jollibee Foods Corporation is the largest fast foodrestaurant chain in the Philippines with a network of more than 1,400 stores in the country. This pureAsian brand is owned by Mr. Tony Tan. Initially, Jollibee started from 2 small ice cream shops in thePhilippines. Tony Tan opened two franchise ice cream stores of Magnolia Dairy Ice Cream in 1975. Later,when realizing the potential of trading in other products, in 1978, Jollibee Group was officiallyestablished. With strict compliance with service, food hygiene and safety standards, Jollibee productsalways have great taste, high quality and affordable prices (Jollibee, 2024).

Jollibee offers diverse products including cakes, pizza, fried chicken, french fries, spaghetti,... Typical

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