5120 - Assignment 1 - Lương Thị Nhi - GBD210150 - GBD1101

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 12

ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 33. Marketing Analytics and Insights

Submission date Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Lương Thị Nhi Student ID GBD210150

Class GBD1101 Assessor name Katherine Labrador Batac

Student declaration

I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.

Student’s signature L.nhi


Grading grid

P1 P2 P3 M1 M2 D1
 Summative Feedback:  Resubmission Feedback:

Grade: Assessor Signature: Date:


Internal Verifier’s Comments:

Signature & Date:


Table of Contents
I. Introduction..............................................................................................................................................................4
II. Analysis..................................................................................................................................................................5
2.1. The concept of customer behavior and influences on customer behavior....................................................5
2.1.1 Define customer behavior...........................................................................................................................5
2.1.2 Define influences on customer behavior.....................................................................................................5
2.2. An overview of the customer decision making process...............................................................................5
2.3. Discussion about the importance of mapping a path to purchase and understand consumer decision
making.....................................................................................................................................................................5
2.3.1 The importance of mapping a path to purchase...........................................................................................5
2.3.2 Understand consumer decision making.......................................................................................................6
2.4. Explaining the characteristics of customers and define the customer insights.............................................6
2.4.1 Definition of customer insights...................................................................................................................6
2.4.2 The characteristics of customers and customer insights of Nutifood..........................................................6
2.5. Examining the stages of customer decision-making process........................................................................7
2.6. Critically evaluate the consumer decision-making process to identify the key stages for customer
experience improvement..........................................................................................................................................7
2.7. Mapping customer journey and important touch-points...............................................................................8
2.7.1 Mapping customer journey of Nutifood......................................................................................................8
2.7.2 Nutifood's important touch-point................................................................................................................8
2.8. Design a customer experience strategy, selecting appropriate techniques to enhance customer experience
to meet marketing opportunities..............................................................................................................................9
2.9. Ideas for improving customer experience by CRM and building customer loyalty....................................10
2.9.1 Improving customer experience by CRM.................................................................................................10
2.9.2 Building customer loyalty.........................................................................................................................10
2.10. Critically discuss the strategic implication for customer experience improvements..............................11
III. Conclusion...........................................................................................................................................................11
IV. Reference.............................................................................................................................................................11

Figure 1: Logo of Nutifood..........................................................................................................................................4

Table 1: Target Customer Personas.............................................................................................................................7


Table 2: Description of Nutifood's customer journey map..........................................................................................8
Table 3: Techniques to enhance the customer experience..........................................................................................9

I. Introduction
One of the crucial elements in developing an effective marketing campaign is marketing analytics. When
using marketing analytics, a wide range of factors are captured, including campaign creative and
changeable parts, variations in each market, and customer behavior. As the director of marketing at
Nutifood, I can attest that in the age of technology and digital innovation, shifting consumer preferences,
and intense competition, companies must have a thorough understanding of consumer insights in order to
improve the customer experience. This report offers a comprehensive examination of consumer insights
within the framework of your business, encompassing significant insights into customer behavior, a look
at the stages at which customers make decisions, and an update to the customer journey map. Future
customer experiences can be designed and enhanced using the insights gathered from this investigation.

With a 22% market share, NutiFood is a nutritional food company based in Vietnam that was ranked as
the top children's milk brand in the country in 2020. The company wants to become Vietnamese-status and
improve nutritional standards. NutiFood's dedication to nutritional scientific research is evident in its
construction of the Nutifood Nutrition Research Institute in Sweden and its Ho Chi Minh Nutrition
Research Institute, both of which aim to improve the physical condition and status of Vietnamese people
(Nutifood,2024)

Figure 1: Logo of Nutifood


II. Analysis
Part 1. Key arguments about the importance of understandings customer behaviours, customer
decision making process and customer journey mapping with reference to the relevant theories and
concepts.

2.1. The concept of customer behavior and influences on customer behavior.


2.1.1 Define customer behavior
Consumer behavior research examines how people, groups, or organizations decide what products and
services to buy, concentrating on the behaviors and reasons they take to satiate their needs and desires
(Schiffman & Wisenblit, 2019).

2.1.2 Define influences on customer behavior


Consumer behavior is impacted by societal, cultural, and individual elements (Schiffman & Wisenblit,
2019). Religions and other cultural elements can have an impact on consumer behavior. Purchase
decisions are influenced by individual characteristics like lifestyles and demographics. Family and other
social elements, such socioeconomic class, can influence consumer behavior. Comprehending these
elements aids businesses in comprehending customers more effectively (Schiffman & Wisenblit, 2019).

2.2. An overview of the customer decision making process


The steps a person takes to consider and decide whether to buy a good or service are referred to as the
consumer decision-making process (Stankevich, 2017).

Five steps make up the purchasing process: identifying the need, gathering information, weighing options,
making a decision, and reviewing the purchase once it has been made. Customers identify a need for a
good or service, look for answers using search engines, weigh their options, decide what to buy based on
information, cost, and reviews, then consider their choice. Consumers can evaluate, recommend, return, or
discuss their experiences with products through post-purchase evaluation (Stankevich, 2017).

2.3. Discussion about the importance of mapping a path to purchase and understand
consumer decision making.
2.3.1 The importance of mapping a path to purchase
Customer journey mapping involves understanding a customer's interactions with a business or product,
including information gathering, decision-making, and motivation (Schiffman & Wisenblit, 2019). This
helps guide engagement strategies and influence consumer choices, ultimately benefiting the business by
guiding their purchase decisions (Micheaux & Bosio, 2019).

2.3.2 Understand consumer decision making


Consumer behavior is extremely useful, and decision-making context is crucial. It can be crucial for
marketers to comprehend how consumers make decisions in the marketplace (Stankevich, 2017). By
adjusting their sales strategy and learning how and why clients make purchases, businesses may
effectively meet the needs and preferences of their clientele. To differentiate yourself from the
competition and persuade more people to purchase your products, create unique marketing and sales
strategies. Additionally, businesses may draw in more customers and increase revenue by enhancing their
marketing and distribution strategies (Kecsmar, 2023).

A common example is the nutritional food manufacturer Nutifood. Customers can make purchases from
Nutifood in up to four interest-free installments and enjoy a straightforward payment process. In order to
facilitate communication amongst diabetic patients, Nutifood has established a club. Within this
community, aunts and uncles who hold president positions or are members of retirement or geriatric
associations will be found. Nutrifoods in general and the patient milk line Particularly Nutifood's diabetic
patients will be able to contact new clients. This could encourage customers to select Nutifood over
competing products since it will give them confidence in their purchase (Oluwatoni, 2023).

Part 2: A detailed analysis about the situation of your chosen company.

2.4. Explaining the characteristics of customers and define the customer insights
2.4.1 Definition of customer insights
Customer insights are insights into consumer behavior, data, and feedback, enabling businesses to
personalize products and services. Techniques include customer segmentation, customer journey mapping,
and surveys. (Sachs, 2023)

2.4.2 The characteristics of customers and customer insights of Nutifood.


In the competitive context of the open and integrated market economy, Nutifood is a company that focuses
on sustainable development, using natural ingredients and modern production technology to create high-
quality products. Their focus on nutritional scientific research has been a competitive strength throughout
their development. Nutifood invests in production lines and equipment to improve nutritional quality and
community health care. Nutifood have become the number one choice for millions of families and have
helped reduce malnutrition and stunted children. The continue to strive for clean, natural raw material
areas for outstanding product quality to gradually occupy gain the trust of Vietnamese consumers
(Nutifood,2024). Nutifood's customers can be divided into the following groups

Table 1: Target Customer Personas

Persona Name Age Occupation Key Needs/Expectations Pain Points

Health-conscious 45 Teacher Nutritional information, High cost of organic


individuals fresh, organic products products, Difficulty finding
reliable information

Busy professionals 40 Engineer Look for convenient, Lack of convenient healthy


nutritious options on the options, difficulty planning
go. meals

Families with young 35 Freelance Healthy food, attractive Picky eaters, worries over
children flavors the amount of sugar

Fitness enthusiasts 25 Fitness Look for products that Finding the right protein
teacher enhance workout sources, balancing taste
regimen performance and nutrition

2.5. Examining the stages of customer decision-making process


The secret of Nutifood's success is its comprehension of the decision-making process that customers go
through: awareness, consideration, decision-making, action, and post-purchase. Researching Nutifood's
products entails taking into account elements like convenience, special offers, and loyalty schemes.
Nutifood may impact consumer decisions, cultivate brand loyalty, and propel long-term business growth
by keeping an eye on customer feedback, putting CRM programs into place, and providing special
incentives.

2.6. Critically evaluate the consumer decision-making process to identify the key stages
for customer experience improvement
Although Nutifood's consumer decision-making process is robust, there is still room for development.
Building emotional ties and trust, improving post-purchase engagement, and customizing interactions
should be the company's main priorities. Emotional storytelling, interactive content, microtargeting,
interactive product demonstrations, social proof content, subscription choices, tailored post-purchase
communications, loyalty programs, and community development are important areas for improvement.
Through the implementation of these enhancements, Nutifood will be able to establish a more
personalized and engaging consumer experience, which will strengthen brand loyalty and promote long-
term growth. A smooth omnichannel experience across all touchpoints, incorporating consumer input, and
utilizing data-driven decision making are other factors to take into account. By putting these changes into
practice, Nutifood will be able to build a devoted following of patrons who will trust the company and
support it.

2.7. Mapping customer journey and important touch-points


2.7.1 Mapping customer journey of Nutifood.
Table 2: Description of Nutifood's customer journey map

Stage Customer Actions Pain Points Identified Opportunities for


Improvement

Advertising, social Ignoring advertisements Boost your efforts in digital


Awareness media, word-of-mouth. in online areas marketing.

Seek recommendations Unable to reach Provide introductory


from friends, family, or potential customers discounts, trial packs, or
Consideration healthcare samples to promote product
professionals. reads experimenting. Interact with
reviews possible clients

Shop visits and Prolonged checkout Put in place self-checkout


Purchase purchases goods queues and trouble and improved signage
finding things

Receives, utilizes, and Not a single follow-up Nutifood is focus on


provides feedback on message customer feedback, CRM
goods programs, exclusive
Post-Purchase
promotions, and innovation
to build loyalty and meet
evolving customer needs.

Returns and suggests to Absence of reward Create incentives and loyalty


Loyalty/Advocacy
friends schemes programs.
2.7.2 Nutifood's important touch-point
Nutifood, a Vietnamese nutrition brand, uses various touchpoints to influence consumer decisions. Its
website provides product information, dietary information, and customer service. Social media platforms
like YouTube and Instagram promote community and business exposure. Nutifood sells through physical
retail locations and online retailers. Marketing campaigns, customer support, influencer marketing, and
loyalty programs build trust. By efficiently managing key touchpoints, Nutifood can enhance customer
experience, boost sales, and solidify its position in the Vietnamese nutrition market (Nutifood,2024).

2.8. Design a customer experience strategy, selecting appropriate techniques to enhance


customer experience to meet marketing opportunities.
Table 3: Techniques to enhance the customer experience.

CX Technique How It Will Be Applied Expected Outcome/Benefit

Maps of Customer Journeys Thorough examination of areas Improved comprehension of


for development and consumer client requirements
pain issues

Personalization & Customization While email marketing delivers Enhanced sales and client
customized information and interaction
promotions based on purchase
activity, the website makes
product recommendations based
on browsing history and dietary
preferences.

Omnichannel Customer Service Through a variety of channels, Dependable and practical


including multilingual purchasing encounter
assistance, proactive
communication, and self-service
options like FAQ sections and
chatbots, Nutifood offers 24/7
customer care.

Content marketing and Work with healthcare The success of loyalty and
Education professionals to provide marketing initiatives
educational blog entries,
instructional videos, and recipe
demos about nutrition, health,
and healthy cooking. You should
also feature client success
stories.

2.9. Ideas for improving customer experience by CRM and building customer loyalty
2.9.1 Improving customer experience by CRM
Customer relationship management (CRM) is a strategic approach to managing interactions between a
company's clients, customers, and potential customers. It involves acquiring clients, understanding them,
offering services, and anticipating their demands. CRM systems help businesses contact, offer services,
gather and store customer information, and analyze this data to build enduring relationships beneficial to
both the business and its clients (Bhattacharya, 2011).

The advancement of information and communication technologies (ICTs) has changed how customers
behave and how businesses approach them, creating new avenues for service sales and improving
customer relations. Using a variety of electronic tools, firms can create long-lasting connections with
clients online with the help of an information system called E-CRM. Its main objective is to improve
customer relationship creation and management efficiency, service quality, and client retention—all of
which will eventually lead to higher profitability (Kumar & Mokha, 2021).

Electronic customer relationship management, or E-CRM, is a tactic that improves online retail customer
relationship management (CRM) through the use of the internet. Through speedier online engagements, it
seeks to manage personal customer interactions, enhance long-term connections, and improve consumer
access. By automating conventional CRM, this method improves e-business investments and online sales
(Ferreira, et al., 2023)

2.9.2 Building customer loyalty


The dedication to stick with a certain brand or product in the face of marketing campaigns and external
factors is known as customer loyalty. It is an indicator of how well a provider builds and maintains
enduring connections with customers (Kumar & Mokha, 2021). Consumers are devoted to companies who
provide top-notch products, first-rate customer service, and trustworthy privacy policies. Customer loyalty
rises when customers are satisfied since they are more inclined to make more purchases and recommend
the product to others. When a customer has more faith and devotion to a particular brand, good, or service,
their loyalty rates rise. Since consumers evaluate service quality, not the provider, it is essential for
retaining clients. Companies should concentrate on content advertising in order to guarantee that
customers receive useful information on a regular basis, which will eventually turn them into devoted
clients (Du & Tang, 2014)

2.10. Critically discuss the strategic implication for customer experience improvements
To increase customer satisfaction and loyalty in today's cutthroat business environment, companies need
to grow their customer bases and enhance customer experiences. Businesses can evaluate consumer
purchase behavior and concentrate on client retention by utilizing E-CRM, a user-centered strategy.
Developing long-lasting relationships with clients is essential, and companies can obtain a competitive
edge by streamlining their E-CRM processes. Businesses can learn more about the favorable relationship
between E-CRM and customer happiness by doing research on user interfaces and experiences (Kumar &
Mokha, 2021).

III. Conclusion.
The report traits and factors influencing Nutifood customers' decision-making for this report. A revised
customer journey map, an evaluation of the decision-making stages of the customer, and important
behavioral insights about the client are all included in the report. Ultimately, the report will advise
companies to use technology to enhance consumer satisfaction and foster loyalty. This will serve as the
foundation for future customer experience design and improvemen.

IV. Reference
Stankevich, A., 2017. Explaining the Consumer Decision-Making Process: Critical Literature Review.
International Business Research and Marketing, 2(6), pp. 7-14

Kecsmar, Z., 2023. Understanding the 5-Step Consumer Decision Making Process. [Online] Available at:
https://www.linkedin.com/pulse/understanding-5-step-consumer-decision-making-processzsuzsa-kecsmar
[Accessed 6 6 2024].

Micheaux, A. & Bosio, B., 2019. Customer Journey Mapping as a New Way to Teach Data-Driven
Marketing as a Service. Journal of Marketing Education, 41(2), pp. 127-140.

Schiffman, L. G. & Wisenblit, J., 2019. Consumer Behavior. 12th ed. New York: Pearson Education
limited.
Sachs, S., 2023. customer insight (consumer insight). [Online] Available at:
https://www.techtarget.com/searchcustomerexperience/definition/customer-insight-consumer-insight
[Accessed 6 6 2024].

Nutifood,2024. Development history. [Online] Available at: https://nutifood.com.vn/lich-su-phat-trien


[Accessed 6 6 2024].

Bhattacharya, A., 2011. Preeminent Analysis Of Customer Relationship Management (CRM).


International Journal of Research in Management and Technology, 1(1), pp. 45-51.

Kumar, P. & Mokha, A. K., 2021. Relationship between E-CRM, Customer Experience, Customer
Satisfaction and Customer Loyalty in Banking Industry: A Review of Literature. International Journal of
Multidisciplinary, 6(2), pp. 127-137.

Du, Y. & Tang, Y., 2014. A Literature Review on the Relationship Between Service Quality and

Customer Loyalty. Business and Management Research, 3(3), pp. 27-33.

Kecsmar, Z., 2023. Understanding the 5-Step Consumer Decision Making Process. [Online]

Available at: https://www.linkedin.com/pulse/understanding-5-step-consumer-decision-making-


processzsuzsa-kecsmar [Accessed 6 6 2024].

You might also like