Consumer Decision Making & Market Positioning
Consumer Decision Making
Consumer decision making is the process of analyzing problems, finding solutions, evaluating options, making choices, and assessing outcomes.
Influencing Factors
a) Firm’s Marketing Efforts
Marketers influence decisions through: product aspects, promotion (advertising/marketing), price strategies, and channel of distribution.
b) Socio-Cultural Environment
Elements like family role, informal sources, social class, and subcultures impact decisions.
Role of Involvement
Consumer decisions
Read MoreProject Management with Gantt Charts: Optimizing Time & Resources
Gantt Charts for Project Management
Introduction to Gantt Charts
Henry Laurence Gantt (1861-1919) developed the Gantt chart in the early 20th century. This graphical method facilitates project planning and control, covering all stages from initiation to completion. Gantt charts visually represent the duration and relationships between different project activities, optimizing planning and illustrating timelines.
Benefits of Using Gantt Charts
- Visualizes project timelines.
- Enables efficient task ordering
Optimizing Procurement and Quality Control in Business
The Quality of Shopping
The purchasing function is one of the keys to the company. Its efficiency and organization depend on the results of the company.
Poor management can cause:
“The factory does not receive the material on time.”
“Customers return products due to defects in materials.”
“The store accumulates excess inventory due to over-purchasing.”
These cases can lead to significant losses.
The Functions Related to Procurement
– Define specifications for products to buy.
– Select suppliers.
– Negotiate
Organizational Systems: Representation and Structure
1 – Model System of Representation
A – Model System of Representation: Both the nature and principles governing organizational systems follow a natural system designed by humans.
B – Origin and Evolution of the Institution: The idea comes from a teacher who studied how to meet the needs of others. I plan on looking for teachers and other employees. And so the years turned 50.
C – System: A set of heterogeneous elements that interact with each other, establish subordinate relationships to an order,
Read MoreMarketing Metrics and AI Concepts
Marketing Metrics
Key Performance Indicators (KPIs)
Gross Rating Points (GRPs) = Ratings * Number of inserts (total exposure on advertising of a specific target audience)
GRPs = (Total impacts * 100) / Target audience
GRPs = % Coverage * Opportunities to See (OTS)
Rating Points/Impacts = Media A / Target audience (also: GRP / Number of inserts)
% of Penetration = (Audience number / Total population) * 100
Audience Number = (% Penetration / 100) * Total population
Useful Audience = ((Target audience * Average
Read MoreIntegrated Management Systems: Implementation and Optimization
Influencing Variables for Integrated Management System Implementation
b) Materials, Machinery, Manpower, Methods, Environment.
Organizational Aspects in Integrated Management Systems
a) They are referred to the company description and preparation of the system. Define the processes that have been carried out to ensure the organization meets its goals.
PDCA Cycle for Management Systems
a) Plan, execute, measure, act.
Elements of Continuous Improvement
c) Planning, implementation and operation, management
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