Strategic Planning with the Choice Model for Decision-Making Behavior Framework

Choice Model for Decision-Making Behavior is a technique that enables better strategic planning in business.

Choice models can predict how individuals will react in a particular situation. Choice modeling is one of the most accurate methods available to gauge consumer response to a product or service offer.

The analysis consists of three stages:

• Designing the experiment
• Collecting data (i.e., through survey questions)
• Statistical analysis

Other Strategic Planning Frameworks

• 4P's Marketing Mix
• Seven S (7S) Management Framework
• AIDA - Attention, Interest, Desire, Action - Buying Process
• Ansoff's Matrix - Product-Market Growth Matrix - Expansion Strategy
• BCG Growth-Share Matrix
• Bass Diffusion Model - Product Adoption and Innovation
• Blue Ocean Strategy
• Choice Model for Decision-Making Behavior
• Competitive Advantage
• Core Competence - Collective Learning in the Organization
• Cost-Benefit Analysis
• Delta Model
• ERG (Existence, Relatedness, Growth) Theory of Motivation
• Experience Curve
• Framing Effect on Psychology and Marketing
• GE (McKinsey) Matrix
• Growth Phases
• Predicting Industry Evolution and Change
• OODA Loop - Observe, Orient, Decide, Act
• PDCA (Plan, Do, Check, Act) - The Deming Cycle
• PEST Analysis - Political, Economical, Social, Technological, Environmental, and Legal Factors
• Perceptual Mapping - Brand Marketing
• Porter's Five Forces
• Product and Marketing Positioning
• Product Lifecycle (Industry Lifecycle)
• Root Cause Analysis
• SWOT Analysis - Strengths, Weaknesses, Opportunties, Threats
• Technology Adoption Curve
• Value Chain
• Balanced Scorecard
• Benchmarking
• Customer Segmentation
• Pricing Strategy & Price Optimization
• Mergers and Acquisitions (M&A)