Question

(a) Discuss the differences between individual and group decision making. (b) What are the differences in marketing to individuals versus groups (e.g., a family)? Provide examples.

Answer 1

Difference between individual decision making and group decision making

1) In individual decision making decision ,individual person is responsible for the decision and decision by a single person

2) Individual decisions are cheap and low costing

3) Individual decisions is based on very limited information which has been gather by some people or managers of the organization.

4) It is been introduced by one person control

5)Individual decisions doesn't impact the job satisfaction of the working people in an organization.

Where as

Group decision making are:

1)In group decision making decisions are taken by a management or a group of people mutually.

2)It is costly if we can check it in terms of time,money both.

3)The collective information is massive in group decision because all information can be taken while making decisions in big groups.

4) Self control is been added in group decision making.

4) Group decision making impact the job satisfaction of employee because new rules can be made after the group decisions and it can impact the employees directly while following it.

Part 2)

Differences in marketing to individuals versus groups are:

Individual:

1)When marketing can done to individuals it will cost more to him as he has to pay alone for the expenditure.

Where as

In group marketing cost will not be beared or consumed by an individual it has been segmented to family members and cost will come less.

2) Individual marketing way is little different where strategies used to market the single person is more complicated because we need each and every details of that person is required

Where as in groups it will be treated as a group of people and brand name can be given to their company.

For example:

A founder of a start up company and founders of a big companies has different way of marketing and costing for their marketing strategies.

In a start up company one founder has to do more than one work and have to take decision individually and loss too can be taken individually where as a big company way of marketing can be done by their marketing team .They just need to take decisions only.

Like Amazon and flip kart

And start up companies like 1 m.g .they face multiple issues.

2) Individal marketing faces many issues while making decisions

Where as groups marketing has made their strategies by many people views and suggestions

Thanks