An Investigation into the Buying Behaviour
1.1: Introduction
Footwear industry in the UK is one of the major industries that are highly
competitive and innovative with a variety of products on offer to the customers.
Trainers: is one of the most popular range of footwear among the UK general
public targeting on a wide range of market segments with intense competition
from conglomerates like Nike, Addidas and Reebok. The fact that age is not
a barrier for trainers and the increasing needs of the customers in the UK
footwear market has apparently increased the competition among the sellers
as well the variety/product range to the customers. Alongside, the increase
in competition has forced the competitors to identify new target markets through
innovative methods like buyer behaviour, customer spending habits, etc. This
report presents a critical analysis on the buyer behaviour for the trainers
among the men in London. The fact that buyer behaviour is one of the critical
elements that contribute to the successful sales in any business is the reason
for this research.
1.2: Terms of Reference
Trainers: a segment of footwear has seen tremendous growth in the sales during
the past 10 years. The increase in awareness on health and fitness and sports
activities is the major reason behind this sweeping increase in sales as identified
by Frances Gray (2004) . The increase in the popularity and sales of trainers
has also led to the increase in the number of players/sellers in the market
who endeavour to provide innovative and competitive designs of trainers that
are aimed for specific sports activities. It is argued that the buyer behaviour
is an effective tool to identifying the potential of a specific segment of
the target market by many academic authors like Philip Kotler (1988), Frances
Brassington and Stephen Pettit (2003).
This research aim is to analyse the buyer behaviour and its effect in the
sales of the trainers within the London area of UK. London is not only the
capital city of the United Kingdom but also a pivotal location accommodating
people from various ethnic origin and catering their needs both personal and
social. Alongside, the fact that London is one of the major tourism attractions
and has visitors from various countries makes it profound that the customer
base in the London area is not only the residents in London but also the visitors
to London from other places in UK as well abroad. This justifies that the
analysis of the buyer behaviour in London will provide concrete results.
The research accomplished by embracing the research on the following objectives
1.
To establish the critical nature of buyer behaviour in the footwear industry
with academic research evidence. 2.
To conduct a secondary research analysis on the trainers business in the UK
as a whole focusing on the competitors and identify whether buyer behaviour
is part of the marketing strategies of the competitors in the footwear business.
3.
To conduct a critical analysis on the gender-based approach on the buyer behaviour
in the trainers segment of footwear business in the London area of UK through
primary and secondary research methods. The entire report embraces the aforementioned
objectives, which will be critically evaluated in the final chapter before
presenting the conclusion.
1.3: Definition of Area of research.
The aim of this research is to analyse the buyer behaviour of the customer's
towards men's trainers in the London area. The research is conducted to establish
the critical nature of buyer behaviour and that the efficient use of the buyer
behaviour strategy will leverage competitive advantage in the trainers business
in the UK footwear industry. Furthermore, the research aims to establish that
the gender-based approach to the marketing of the trainers in the UK is a
successful strategy by focusing the research on the buyer behaviour on the
men's trainers.
Scope of Research
The scope of the research is limited to the city of London since it is not
possible to conduct the research on the entire UK itself due to the geographical
limitations. Alongside, the focus group for the research is the men of all
age groups within the city of London. In order to provide a profound insight
on the buyer behaviour and the footwear retailing in, the research is also
conducted among the high-street footwear retailers within London. A detailed
discussion on the primary research is presented to the reader in chapter 3
on research.
Justification for research
The increase in the competition in the footwear industry and the diffused
nature of the consumer demand has apparently increased the need to identify
new strategies for increasing sales. Buyer behaviour is one of the very old
and basic concepts of marketing management, which was overseen, in the recent
years with the growth in technology and other innovative methods. The argument
by Estelle Van Tonder (2004) has established that the competition in the footwear
industry has tremendously increased and the need to address this competition
in the light of buyer behaviour is essential to increase sales and revenue.
This report aims to critically analyse whether buyer behaviour strategy can
be deployed focusing on gender-based product customisation and marketing which
is increasingly seen in the footwear industry. Hence the research will throw
light on the question that whether buyer behaviour is a successful strategy
to be deployed time and again in the information age through critically analysing
the buyer behaviour for Men's trainers in London.
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