Decision Making Models, Imc
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Transcript of Decision Making Models, Imc
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Follows the principle of maximum utility basedon the law of diminishing marginal utility,
which means with limited purchasing power ,
consumers shifts its product choice to have
maximise utility.
Model is based on
Price Effect : Lesser the price more is the quantity.
Substitution Effect: Lesser the price of the substitute
product lesser will be the utility of the original
product bought
Income Effect: More Income = more quantity
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Dog Experiment
Three StepsDrive
Cue
Response
Buyer is a part of
society
Plays major roles as a
part of various formal
&informal associations
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Four Set of variables Input
Significant stimuli: Physical tangible features of product like price,
quality.
Symbolic Stimuli: Other Factors
Social Stimuli: Friends, Relatives. Perceptual and Learning constructs: Motives, Attitudes,
Perception i.e. receiving stimuli and interpreting it.
Output: Means the purchase decision
External Variables: Doesnt directly influences the decision
process and varies from customer to customer
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Role of Family Members
Influencer: Child
Gatekeeper: Mother
Decider: Father
Buyer: Son Gifting
Preparer:
User:Maintainer:
Disposer:
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Bachelor hood
Parenthood
Post parent hood
Dissolution
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Point of
Purchase
Publicity
PublicRelations
Direct
Marketing
Interactive
Marketing
Special
Events
Packaging
Sales
Promotion
Direct
Response
MediaAdver-
tising
2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
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Point ofPurchase
Publicity
Interactive
Marketing
Public
Relations
Direct
MarketingSpecial
Events
PackagingSalesPromotion
DirectResponse
Media
Adver-tising
2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
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"Integrated communication" is simply the deployment of
all marketing communications media together in a
consistent way. Productivity and quality are the outcome of integrated
communication.
For example, if you are launching a new product, youmay want to create national awareness for the product
and then find customers for it.
combination of television, mail, retail display and
telephone can be particularly powerful
, special attention must be given to project-managing
them together.
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The coordination and integration of all marketing
communication tools, avenues, and sources within
the company into a seamless program that maximizes
the impact on consumers and other end users at aminimal cost.
Merging the traditional concepts and different
marketing disciplines.
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Diffusion of knowledge about different marketing
techniques into wider marketing community.
Use of database marketing.
High costs of in broadcast and publishing media.
Focus on accountability for marketing expenditure to
find most cost effective media combination
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Analysis Of The Promotional Program Situation
Internal Analysis
Promotional departmental organization
Firms ability to implement promotional programs
Agency evaluation and selection
Review of previous program results
External Analysis
Consumer behavior analysis
Market segmentation and target marketing
Market positioning
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Analysis of Communication Process
Analyze receivers response processes
Analyze source, message and channel factors
Establish communication goals and objectives
Budget Determination
Set tentative marketing communications budget
Allocate alternative budget
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Advertising
Direct marketing
Sales Promotion
Public Relations/ Publicity Personal Selling
Interactive/Internet Marketing
ON THE LINES OF Objectives; Budget;
Message; Strategy.
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Integrate promotional mix strategies
Create and produce ads
Purchase media time, space, etc.
Design and implement direct marketing programs
Design and distribute sales promotion materials
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Design and implement public relations / publicity
programs
Design and implement interactive marketing programs
Monitor, Evaluate, and Control Integrated Marketing
Communications Program
Evaluate promotional program results / effectiveness
Take measures to control and adjust promotional
strategies
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Time
Communication & involvement
Variety of results
Careful Budgeting
Planning & Control
Integrating managers
Results evaluation
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A persons lifestyle is the persons pattern of living
indicated by his activities consumption & interest
Has to work out a marketing strategy which willindicate the relationship between a product brand
and lifestyle of the product user.
AIO: Attitudes, Interest & Opinions: used as a tool
to determine influences on consumer behavior
and consumer markets
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Personality: Refers to the unique features that lead
to relatively consistent and lasting responses to
one own environment
Self Concept: Complex mental picture of the
persons self.
The way he dresses , the products he uses, as
products acts as a symbol of their self image.