Advertising Strategy for FMCG Product : Analysis Using Interpretive Structural Modeling

Advertising Strategy for FMCG Product : Analysis Using Interpretive Structural Modeling

Arpit Shukla 4th Sem M.Tech.

Takshshila Institute of Engineering & Technology Jabalpur

Amol Talankar

Assistant Professor

Takshshila Institute of Engineering & Technology Jabalpur

Dr. Ashish Mishra Professor

Takshshila Institute of Engineering & Technology Jabalpur

Abstract

The study attempts to analyze the impact of advertising on consumer buying behavior. Market provides a key to gain actual success only to those brands which can be delivered what are the people needs and they are ready to buy at the right time without any delay.

The major reasons for this preference are its attractive advertising policy and rich quality. In this reference, the survey reveals that TV advertisements of Surf Excel influence the buying of consumers the most. The creative presentation and language of TV advertisements of Surf Excel are successful to convey Message, Emotion, Value system regarding the product. The study clearly reveals that the advertisement has its impact on buying behavior of consumers. Therefore, it is advisable to companies to emphasize their advertisement campaign not only to retain their market but to height it also.

Literature in advertising and information systems suggests that advertising in both traditional media and the Internet is either easily ignored by the audience or is perceived with little value. Today 'Celebrity Endorsement' has attracted immense debate on whether it really contributes to the brand building process or whether it is just another lazy tool to make the brand more visible in the minds of the consumers. Surf Excel proved that celebrity endorsement is not the only tool to attract the consumer but it is necessary to understand the psychology of consumer and source of need generation.

The present research includes the literature survey of advertising theories, models of consumer behavior, Advertising communication models, theories of advertising creativity. Advertising drivers are identified from these model are further analyzed using interpretive structural modeling and are mapped for Surf excel.

Quantitative research examines numerical relations between two or more measurable qualities. Such an approach is usually associated with large-scale studies and is related to the objectivity of the researcher. Qualitative research on the other hand relies on transforming the observed phenomena to written words instead of numbers. A combination of a holistic perspective and specific perspective is ideal in this study in order to measure the respondents purchasing behavior and understanding their attitudes.

Keywords: ISM, FMCG, Advertising Enabler

Introduction:

Advertising is about striking the right note on those chords of the brain that most often are in sync with the heart. When this happens, a need is generated and brain directs to buy, be it a product or a service or an idea. Indian advertising too follows this rule but here age-old advertising trends are still thriving along with the latest innovative trends.

Advertising started with the need to sell, and word-of-mouth advertising was the oldest mode to advertise; with the advent of social media it again has become a focal point of advertising. Social media has also altered the trend of one-way flow of information to interactive sessions where consumers have also become a part of the process. So instead of being force-fed advertisements, users are now getting empowered to choose.

Ehrenberg, even in 1974, tried to postulate Awareness-Trial- Reinforcement model of consumer response to advertising and according to him the main purpose of advertising for established brands is its defensive role in maintaining repeat buyers. In answer to how ad works, one model that applies to certain advertising categories is "Advertising offers a stimulus to a potential user of a product, which it is hoped will produce the response of an increased predisposition to buy the advertised brand." Based on the relevant literature, the developing view about theories in advertising seems to be that no single theory will do for all cases of consumer-advertising interaction. In some situations, one theoretical approach may be appropriate, whereas in another situation, an alternative formulation may better fit reality.

Internet has revolutionized the advertisement world. It has introduced international trends and made them more acceptable, especially in urban centers. Also, it is one of the most cost- effective ways to advertise. Though internet accessibility is increasing in India but a vast percentage of population is not yet exposed to it. Newer technologies have shifted focus from mass promotions to target marketing. Internet helps in tracking individuals interests. Opinion polls, television rating techniques and audience profiling leads to specific targeting of niche customers. This precision marketing is cost-effective and consumer is getting proactively involved due to importance given to his feedbacks.

Literature Review:

A large body of literature on Advertising Creativity, Advertising Communication Process and Consumer Purchase Behavior provides a basis for the present study. The chapter will explain the search process in reviewing the literatures on advertising and then on HUL, their brands in market and about the advertising strategy of Surf Excel.

The following review was developed through a systematic search of the related literature. In the first phase, a broad scan of the advertising literature, especially those covered through the published research papers, Google Scholar, PROQUEST etc.

Theoretical Literature

The theoretical literature was reviewed mainly for providing a basis for empirical review. This was accomplished by reviewing the related theories and models. Several theories have

been advanced to explain the impact of Creativity in Advertising on Communication-Effect and Purchase Behavior. The review of these different theories includes:

Literature review

Theories of

Advertising

Advertising Communication Models

Consumer Behavioral Models

Theories of Advertising Creativity

Theories of Advertising

In the literature, instead of' one proven theory, there are at least four distinct, alternative theoretical formulations of' how advertising produces its effect. Weilbacher (1984) summarizes these four theories.

Table 2.1 : Theories of Advertising

Advertising Communication Models

The essential purpose of communication, that of attempting to influence the attitudes of individuals are achieved by changing the mental state or predispositions of the person at whom the communication is achieved. As such, the communication process involves four elements that are listed and described by Gilligan & Crowther (1983).

1. The Source or Communicator of the Message

2. The Message

3. The Communication Channels used to convey the Message

4. The Recipient or Audience at whom the Message is directed

Selection of Advertising Enablers:

The critical analysis of the models of advertising communications, models of consumer behavior and anatomy of purchase, the select enablers of advertising are envisaged. The select enablers of enablers are summarized in table 2.3 which are further analyzed in chapter 6 using interpretive structural modeling (ISM)

Table 2.3: Select Enablers of advertisement

Interpretive Structural Modeling:

Interpretive Structural Modeling (ISM) methodology helps to impose the order and direction of complexity of relationship among the elements of a system (Singh et al.2008, Thakkar et al.2008). The attribute data collected from the newspaper agency is random which includes the customers requirements, hawkers requirement and the policy of agency. This data needs to be arranged in manner so as to generate the logical sequence of the activities according to their contribution to improve the quality of service.

Structural self-interaction matrix (SSIM):

Using nominal group technique, including experts from the field, and academics, the feedback is tabulated and their relevance has been plotted in the matrix. The relationship between the process parameter indicated and the symbols used as shown below:

V Parameter i will help to achieve j

A Parameter j will help to achieve i

X Parameter i and j will help to achieve each other and O Parameter i and j are unrelated

Reachability Matrix:

The SSIM has bee converted into a binary matrix called the initial Reachability matrix by replacing V, A, X and O by 1 and 0 as per following rules.

If the (i, j) entry in the SSIM is V, the (i, j) entry in Reachability matrix become 1 and the (j,

i) entry becomes 0;

If the (i, j) entry in the SSIM is A, the (i, j) entry in Reachability matrix become 0 and the (j,

i) entry becomes 1;

If the (i, j) entry in the SSIM is X, the (i, j) entry in Reachability matrix become 1 and the (j,

i) entry becomes 1; and

If the (i, j) entry in the SSIM is O, the (i, j) entry in Reachability matrix become 0 and the (j,

i) entry becomes 0.

Level Partition:

From the final Reachability matrix, the Reachability and antecedent set for each parameter is found (Singh et al.2008). The reachability set consists of the element itself and the elements which it may help to achieve whereas the antecedent set consists of element itself and the element which may help it achieving. Here the level are assigned to each parameter

depending upon its reachability set. The top level parameter in the hierarchy would not hel to achieve any other element above its own level.

Formation of ISM diagraph and model:

The structural model is generated from initial reachability matrix. If there is a relationship between the enablers i and j, this is presented by an arrow which points from i to j. and the similar concept is applied to all parameters to generate initial diagraph model. By removing transitivities this is converted to final diagraph. This final diagraph Fig.4 can then be used to generate ISM based model.

Target Recipient

Purchase facilitation

Post Purchase behaviour

Purchase Intention

Liking / Interest

Product Uniqueness

Time of Advertisement

Informativeness

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Conclusion:

The levels of enablers are important in the advertisement implementation process. It can also be observed from Fig. 6.1 that three enablers, namely source of communication (enablers 1), Informativeness (enablers 3), Time of advertisement (enablers 4) have high driving power and less dependence power. Therefore, these enablers can be treated as key advertisement enablers. On the basis of above discussion, we can conclude that all the nine enablers are important (although in varying degrees) for the purpose of successful advertisement of product. In this research only nine advertisement enablers have been used to develop the ISM model, but more enablers can be included to develop the relationship among them using the ISM methodology.

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