Description
Solution
Abstract
TrendSavvy, a mid-size fashion retailer, was struggling to retain customer loyalty and engagement due to intense competition and shifts in consumer behaviour. This research paper aims to examine how TrendSavvy used data-driven marketing research to reposition its brand, to choose the most effective marketing channels, and to increase customer loyalty. TrendSavvy also utilised mixed-methods research, combining qualitative and quantitative data to understand the target population more effectively. This research also demonstrates the importance of applying sophisticated data analysis, sampling methods, and literature review to develop effective marketing plans. The recommendations that have been made include performing market research on a regular basis, improving the digital engagement and embracing ethical practices for future growth.
Table of Contents
Key Challenges Faced by TrendSavvy. 6
Role of Marketing Research in Addressing Challenges. 8
How the Literature Review Informed Strategic Decisions. 10
2.2 Objectives of the Study. 12
2.3 Hypothesis of the Study. 12
2.4 Conceptual/Theoretical Model for the Study. 12
3.1 Data type (Primary/Secondary) 13
3.4 Questionnaire Framing (DV & IDV). 15
6.0 Suggestions/Recommendation. 18
6.1 Limitation of the Study. 20
Figure 1: Four-Stage Loyalty Model (Oliver, 1999) 6
Figure 2: TikTok Users by Age. 7
Figure 3: The Impact of User Generated Content 9
Figure 4: Conceptual Framework. 12
Figure 5: Key Drivers of Customer Loyalty and Engagement 16
Figure 6: Impact of Social Media Brand Actions on Purchase. 19
Chapter – I
I.0 Introduction
In the fashion industry, the dynamics of success depend on a brand’s capacity to capture consumer tastes and modify its approach as the market changes. Due to the increased availability of e-commerce and the use of social media platforms, there is high competition and for brands, they have to create their own niche and still be able to meet the ever-changing needs of consumers. TrendSavvy that used to be popular for its fashionable and low-cost clothing became stagnant as rivals introduced smart digital marketing and provided tailored customer interactions. This challenge raised pertinent issues that called for change in the marketing strategies of TrendSavvy so as to meet the needs of its audience as required. To get back on track, the company undertook a process driven by targeted market research that attempted to identify these consumer trends, behaviours and attitudes. This research contributed towards the areas where its approach needed improvement as well as how it could successfully re-engage the audience. The aim of this paper is to analyse how marketing research, analysis of data, and strategic planning has helped the company to confront these challenges and the long-term growth.
1.1 Scope of Research
This study is centred on the strategies adopted by TrendSavvy to address the problems that it encountered with regard to customer loyalty, engagement and market positioning in the fashion industry. It defines and analyses consumer behaviour factors, including emotional bonds, digital interactions, and brand authenticity to identify potential areas for improvement. The study also looks into how the integration of qualitative and quantitative data provides a rich understanding of consumer motivation and behaviour, which can be employed in the formulation of strategies. In addition, this research examines how digital marketing communication and social media impact customer engagement and loyalty, how market research builds brand credibility, and how individualised shopping experiences can be fostered. This research includes sampling, univariate, bivariate and multivariate data collection and analysis using factual information. In addition, it analyses how TrendSavvy can adjust with the current market trends to remain relevant in a competitive market in the future.
Chapter – II
2.0 Literature Review
The fashion industry has its own dynamics popularity trends, competition growth and necessity for integration in the technological innovations (Langley & Rieple, 2021). As a response to these challenges, TrendSavvy has to use market research as one of the ways to retain customers that will remain loyal to a brand and interested (Närvänen et al., 2020). This literature review aims to look into the problem that TrendSavvy faces, what type of research in marketing can be done to overcome these problems and how the literature will help to guide on decision making.
Key Challenges Faced by TrendSavvy
Eroding Customer Loyalty
One of the problems TrendSavvy experiences is customer disloyalty due to the entry of new competitors offering unique products and services and having effective online presence. Arslan (2020) defines customer loyalty as the customer’s willingness to return to a company to purchase its products or services. As noted by Ganaie & Ahmad Bhat (2020), customer loyalty is important in markets where repeat purchase is the main source of revenue. TrendSavvy has a low rate of customer loyalty because it has not established a strong persona and therefore cannot offer its customers products that are customised in a way that will make the customers develop an emotional bond with the brand. As explained by Jai et al. (2021), Oliver’s (1999) four stages of loyalty (See Figure 1) stress the necessity of the transition from cognitive loyalty, which is based on the customers’ awareness of value, to affective loyalty, which relies on the emotional connection. This failure to foster relationships hampered by non-existence of such connections has led to the stagnation of TrendSavvy.
Figure 1: Four-Stage Loyalty Model (Oliver, 1999)
Low Digital Engagement
As consumers engage with brands through digital channels, having a limited presence on platforms like Instagram and TikTok has also impacted TrendSavvy visibility and engagement. According to Musova et al. (2021), the fashion industry is commonly interesting for people aged 16-34, who are very active on following the latest trends. In Figure 2, we see the same age group being the most active on TikTok, meaning that the use of such digital platforms can have great impact for TrendSavvy. As stated by Brydges et al. (2022), social media is not only the way of communication but also the place where brands are selling themselves and telling their stories. The target market of TrendSavvy comprises the younger generation who are interested in consuming interesting, customised, and visually rich content (Ramadan & Nsouli, 2021). The lack of engagement effort in digital platforms put the brand in a disadvantageous position in the market.
Source: Petrucelli (2023)
Inconsistent Brand Identity
Brand authenticity, a critical aspect of trust and loyalty, is also an area where the company failed. Brand authenticity is defined by Safeer et al. (2020) as the perception of a brand by consumers as being genuine, reliable, and true to its image. Cinelli and LeBoeuf (2019) posits that authenticity lies at the heart of consumer perceptions. TrendSavvy failed to create a strong and meaningful story that would engage and inspire its consumers, which caused the brand to struggle in the competitive environment. As Routray (2024) also points out, lack of message consistency undermines credibility with the audience that cares about the company’s values and missions like sustainability and inclusion.
Role of Marketing Research in Addressing Challenges
Marketing research will provide TrendSavvy with the tools to address these challenges through data-driven insights (Rosário & Dias, 2023).
Understanding Customer Preferences
Quantitative and qualitative research methods will help the company understand where it has failed in engaging the right customers. According to Arefin et al. (2024),…………
Please click the following icon to access this project in full
Related Papers
(Solution) CIPD 7C004 Task 2.2 Justifying Research Methods
(Solution) New ICS Learn 5HR03- Reward for Performance and Contribution
(Solution) CIPS Advanced Practitioner Corporate Award (APDP)
- Within six months, PS&M personnel will be provided with chances for capacity building through partnerships with educational institutions to gain knowledge and skills for implementing category management.
- The PS&M would become more motivated in the long run by providing recognition and benefits for pursuing category management implementation.
- Within a year, an effective change management strategy would be pursued, focusing on tracking the change and spotting change resistance
1.0 Introduction
1.1 ADNOC Organisation Background
In this report, the organisation of focus is Abu Dhabi National Oil Company (ADNOC). This is for understanding the impact of contract terms and conditions on distribution of risk and power with their suppliers. This is an organisation which began its operation in 1971 and today is ranked as the leader in diversified energy group which is owned by Abu Dhabi Government (ADNOC, 2022). The organisation network of holistically integrated business has based their operations across the entire energy value chain assisting their capacity for meeting overall demands of the consistently changing energy markets. For remaining competitive, the organisation has allocated $15 billion for advancing and accelerating lower-carbon solutions, investment in new energy solutions and decarbonisation technologies for lowering their carbon intensity with 25% by 2030 and successfully facilitating their NetZero by 2050 target. The company has a network of fully operational companies that operate throughout the entire hydrocarbon value chain, handling tasks including exploration, production, processing, storing, refinement, and supply in addition to manufacturing a wide range of petrochemical products. I work as a Contract Engineer for ADNOC Offshore, one of the company's divisions. The offshore division of ADNOC is responsible for the delivery and development of oil and gas resources in the waters surrounding Abu Dhabi. With OPEX and CAPEX, ADNOC Offshore spends over 3,000 million dollars annually. The organisation structure is as illustrated in figure 1; Figure 1: ADNOC Organisation Structure1.2 Identified Category Management
The deployment of the iSourcing system, a technology-focused procurement procedure, was chosen as the category management in this study. The need for oil and gas has significantly expanded in the modern era since the Covid-19 epidemic. As a result, ADNOC is forced to spend money on equipment to help them process and refine more oil and gas products. In light of this, the team leader's responsibility is to see that an iSourcing system is in place and can be utilised to purchase the new machines that the company needs to upgrade its operations. Locally in UAE, regionally in the Middle East, and internationally in Western nations, this would apply. This project aims to produce a report outlining the implementation of the change approach. This is done while ensuring the team members and leader have the necessary abilities to carry out the plan successfully. Implementing the new category management strategy is the kind of change being sought. The learner will be the team leader throughout the full category management process since a team has been chosen to oversee the deployment of iSourcing. The practical approach would be utilising various tools and strategies that demonstrate leadership and best practices in change management, along with a focus on the category management data from the ADNOC firm.2.0 Change Management Approach
2.1 Introduction of the Required Change Process
In its Procurement Supply and Management (PS&M) budget, ADNOC had allocated roughly 10 million UAEis before the COVID-19 epidemic. Up to 5,000 domestic and foreign providers are currently utilised in this. Because of the significant financial allocation in PS&M, the ADNOC sourcing method is crucial to their operations in this scenario. Logistics, equipment, and facility administration are all purchased separately by the organisation, all of which fall under the organisation's primary spending categories of computers and technical systems. As a result, they lack a centralised system that would allow all departments to be involved in aiding the procurement procedure (CIPS, 2020). The Burke-Litwin Model (Coruzzi, 2020) can pinpoint the internal and external factors that contributed to the identified change. This model ranks the many change drivers according to their importance and provides evidence of each one in figure 2; Figure 2:Drivers of Change Model When taking into account the ADNOC organisation and indicated change, these elements have the following effects, as stated in Table 1: Table 1:Summary of the Drivers of Change in ADNOC OrganisationFactors of change | Explanation |
External environment | Supply chain networks have been significantly impacted since COVID-19. ADNOC's ability to replenish stock, equipment, and machinery has been affected. Therefore, ADNOC would participate in strategic alliances by including diverse actors and intermediates in the complete value chain through iSourcing |
Individual and oganisational performance | ADNOC's investment in iSourcing would reduce PS&M turnover, everyone's performance, and supply chain network satisfaction. |
Leadership | To ensure iSourcing success, the PS&M will lead and manage efficiently. This inspires and guides other organisations to iSourcing success. |
Mission and strategy | The achievement of ADNOC's aim to provide high-quality oil and gas products would be ensured by the deployment of iSourcing. The justification for this is to quickly and effectively engage highly qualified vendors. |
Organisation culture | Implementing iSourcing would promote the collaborative and teamwork-oriented organisational culture of ADNOC. This is due to the platforms offered by iSourcing that provide suitable options for teamwork and collaboration. |
Task requirements and individual skills | Employees at ADNOC lack the knowledge and skills necessary to deploy iSourcing. This deficit might be filled by offering possibilities for professional advancement. Implementation of the change would be successful. |
Employee motivation | This report's proposal suggests that providing monetary and non-monetary rewards is necessary to encourage people to adopt iSourcing. This is for employing remarkably contemporary systems of practice. |