Decision Making Models, Imc

8/12/2019 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.

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Decision Making Models, Imc