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IRE260H1 Lecture Notes - Lecture 8: Satisficing, Stereotype, Group Cohesiveness

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carmineduck597
9 Nov 2017
School
UTSG
Department
Employment Relations, Centre for Industrial Relations and Human Resources
Course
IRE260H1
Professor
Hua Wang

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Document Summary

Something we all do on a daily basis. Decision-making is the process of coming to a conclusion, agreeing on an outcome. Problem: when a gap is perceived between existing state and desired state. A gap is an issue you need to address --- make decision to fill the gap. Three key factors: (1) every time you make a decision it"s about making choices. Decisions happen when you have more than one alternative. (2) it"s about the process. You have to weigh all factors (3) committing resources --- decision-making is about the follow-through. Types of problems (1) well-structured problems: everything is clear. We know how to get from existing state to desired state. Example: need to get to campus; know options --- drive, transit, bike, walk. Repetitive, familiar process. (2) ill-structured problems: existing and desired states are unclear. Don"t know what you want as an outcome. Problems that we do not face on a daily basis.

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Related Questions

The purpose behind much of advertising is to influence each of the five Consumer Decision Making process (Problem Recognition, Information Search, Evaluation of Alternatives, Product Choice (i.e. Purchase) and Outcomes (i.e. Postpurchase). Each stage of the Consumer Decision Making process has techniques that help consumers to manage the stage and then move onto the next one successfully. Eventually, the consumer moves to purchase (where we get excited to make the sale) but don't underestimate how important the last stage (post purchase) is to making additional sales in the future. Below are guidelines that show basic techiniques used to target and manipulate each Consumer Decision Stage through advertising.

Below are some issues that you will want to consider as you evaluate each of the five chosen advertisements. Please remember that your goal is not simply to answer these questions, but to provide insights into the consumer’s decision making process that you feel would be useful to a marketing manager (e.g., if an ad triggered the consumer’s decision to purchase the product). Other areas to comment on would be level of involvement, etc.

Consumer Decision Making Stage:

Considerations for Stage:

Common Ad Techniques:

Problem Recognition

What problems does this product solve for the consumer? • What triggered the decision to purchase this product? • Was this the first time the consumer purchased such a product?

Define and discern the Actual and Desired States

Ask a question (What’s for dinner tonight?)

Show before (actual state) and after (desired state)

Use the word “new” or “introducing” to initiate curiosity.

Information Search

• Did the consumer seek information about the product and about various brands? How was this information collected, and how much information was collected? • Was the consumer searching for any advertisements for the product? What was the consumer’s reaction to these advertisements?

Match amount of information with type of product.

Direct consumers to website, free kit or other information venues.

Show role models that “look” like the target market.

Show the entire line of product offerings (all the flavors and colors, etc.)

Testimonials, etc.

Evaluation of Alternatives

• How many alternatives were considered? How were they selected?• What features and characteristics of the product were most important to the consumer? Salient and Determinant defined attributes.
• How important was the brand of the product to the consumer?

Featuring specific variables that the product is known for (ex. Volvo=Safety). This is known as “positioning” a product.

Competitive method (brand compares themselves to “leading brand or category”)

Comparative method (brand compares themselves to another brand by name (Coke vs. Pepsi)

Product Choice

• Did any other people play a role in the decision process? Describe theroles that each person played.
• How was the final choice determined? How carefully was the decision made?
• Where did the consumer make the purchase? Why? • Did the consumer pay full price for the product?

Tell consumers where and how the product is sold.

Offer many ways to pay for the product.

Divide payments.

Offer sales promotion (coupons, rebates)

Post-Purchase Evaluation

• How is the product used and consumed? How does the consumer feel when he or she uses the product?
• What is the meaning of this product to the consumer?

Does it merely
serve a function for the consumer, or does it say something about who the consumer is?

Does the Ad encourage repeat purchase or loyalty to the brand- how?

Show awards the brand has won.

Show how a brand should be consumed.

Allow consumers many ways to return the product.

Allow consumers to easily provide feedback.

Reward consumers loyalty

This assignment asks you to find one ad that addresses each of the needs of the five stages (in other words five different ads). This means that there must be five different ads for the total project, one for each stage (all ads are different from one another). Create a Power Point Presentation that shows how the advertiser is addressing the needs of the consumer for the specific Consumer Decision Making stage.

*Be aware that there is a helpful power point demonstration in a conference opened this week marked as "Advertising and the Consumer Decision Process (Ad Examples)". This is informative only and does not need to be commented on.

First, show the ad in a slide and then follow-up with a slide which explains (bullet form) why the ad slide targets the Consumer Decision Making process stage. ALL ADS MUST BE STILL ADS (NO VIDEOS or LINKS). Therefore the ad MUST be able to be copied and pasted within the power point slide (NO LINKS). Here is the format of the presentation:

Slide 1: Name, date

Slide 2: Problem Recognition Ad

Slide 3: Explanation why it addresses this stage

Slide 4: Information Search Ad

Slide 5: Explanation why it addresses this stage

Slide 6: Evaluation of Alternatives Ad

Slide 7: Explanation why it addresses this stage

Slide 8: Product Choice (Purchase) Ad

Slide 9: Explanation why it addresses this stage

Slide 10: Outcomes (Postpurchase) Ad

Slide 11: Explanation why it addresses this stage

Slide 12: Conclusion

In the conclusion of the slide presentation choose which ad is most effective (overall) and why.

Logistics Run Down:

-No more than 18 slides in length (includes cover page and bibliography)

-Include a cover page and bibliography of sources. Outside sources (esp. learning resources from weeks covered) are encouraged to be cited and used.

-Organize and utilize the headings given above.

-No more than 2 grammatical/spelling errors are allowed (please proof before submitting).

-Text is required to be in Times Roman, 12 pt font, double space the text.

- Keep voice in business third person. Do not include visuals in text analysis, if need to add create an appendix and refer your reader to such.

3. Please list the 4 key supply side growth factors we discussed, and discuss their viability in terms of getting our economy growing again, given that today our economy is not growing.

a. The slides should provide you with what you need here.

b. The issue of viability – if the economy is growing slowly or not at all, do we have any chance of achieving success with each of the 4 growth factors? What will likely cause us problems? What approaches could we use to increase our odds of success? You need to think carefully on this one.

4. Creative problem solving

Scenario #1:

The rate of growth in the US economy is currently 0.5% annually. Your mission is to increase our growth rate to at least 4% annually, without setting off unacceptable levels of inflation. You have the tools of fiscal and monetary policy available.

a. Present your solution to the problem – write it down first.

i. Strategy for creating your solution:

1. First identify a specific natural resource and think through how having more of it or a better quality of it could lead to significantly increasing the GDP growth rate.

2. This will lead you to a general solution to the problem.

3. Write it down! The explanation of the solution should take at least one good paragraph!

4. Determine what will be required to make the solution happen, typically it is money.

5. Think of ways to use your fiscal and monetary policy tools to get the needed money.

6. To attack the problem you must select at least one Monetary Policy tool and one Fiscal Policy tool.

b. Write down the names of the one fiscal policy tool and the one monetary policy tools you picked.

i. Remember – for this question you need one Fiscal Policy tool and one Monetary Policy tool.

c. Explain why you picked the tools that you picked and why you did not select the other choices.

i. Specifically explain what is good about the tool you selected and what is not so good about the tools

you did not select? Do this for

both the monetary and fiscal policy tool that you selected. The key here is to use some decision criteria in making your choice.

d.,Thoroughly and completely explain how your solution would work to solve the problem. You must include and explain the use of your monetary and fiscal policy tools and indicate the impact your solution would have on the key economic variables. Please present your answer using a chain of events format. Be specific. I need to see the detail.

Employees at D-Bart’s San Jose facility have reason to be concerned. Division Manager Karen Howell received word from headquarters that the San Jose plant would be closed, with operations merged into the San Francisco facility. Most of the San Jose staff would be transferred to San Francisco, since the change was more an effort to save facility costs than to eliminate workers. Even so, approximately 20 percent of the San Jose staff would be let go. Howell was to work with supervisors to decide who would go and who would stay. Since there was no particular area that is to be reduced, Howell thought the most straightforward and equitable method to determine staff cuts was to eliminate 20 percent from each department, with termination decisions based on performance appraisal scores. She has reviewed appraisal records and generated a list of employees she believed should get notice. Howell has not yet shared her list with managers, and no general announcement has been made to employees. Managers have been informed of anticipated cuts and were asked to come up with suggestions on which employees to cut. Howell planned to meet with each department manager to finalize their decisions before they took any action. Howell met with Production Supervisor Dave Bradshaw this morning. They needed to cut five people from his department. Howell and Bradshaw both agreed that reductions would be difficult, but she was surprised when Bradshaw said, “I know this is going to be hard for some people, but it’ll be a good thing, too. I’ve got a couple of people I have wanted to get rid of for a very long time.” “Who’s that?” asked Karen. “Ben Renfro and Jackie Callahan,” Dave said without hesitation. “Why?” asked Karen, “They both have outstanding performance appraisals.” “Well, it doesn’t matter what the paperwork says,” he answered, “they’re both terrible. Renfro’s always wasting time chatting with other employees. He keeps everybody from working, and he never meets production goals. Callahan can’t get to work on time. I bet she’s late three days out of five.” “How do you know she’s late three days out of five?” Karen asked. “Have you kept a log or documented her absence?” “No, but I work with these people. I know what they’re doing. We’re pushed to meet production numbers,” Dave said in his defense. “We don’t have time for that paperwork stuff, and besides, people know they have to be at work on time. If they can’t even do that, we should just get rid of them!” Howell found much the same response from all the managers. It appeared that no one had been taking the appraisal process seriously. Feedback to employees had been haphazard at best, and discipline, if it had occurred at all, had been arbitrary and not properly documented. Managers simply checked off boxes on the appraisal forms so they could get back to the “real” work of production. Howell shook her head. Obviously, the existing performance appraisals could not provide reliable documentation on which to base reduction decisions. She would have to come up with a different plan for appraisals and reducing staff. SHRM is recognized as the source for this case study. Students will complete the assigned case study as a way to increase learning through application of course material in complex, real world situations. To complete the case study the student will:

• Identify and define the central dilemma presented in the case

• Select and gather pertinent areas of consideration, and identify critical data and stakeholders (if you need to make assumptions about any of the facts in the case, be sure to specify these assumptions in your analysis)

• Gather additional information and research as necessary

• Identify and investigate all appropriate possibilities to resolve the central issues, and present at least three different options

• Select and present the best solution and include support for the decision that recognizes positions of all the stakeholders

• Describe how to implement the best solution and include strategies to address the known challenges. Also include the likely implications of the selected solution.