Information search as well as decision making, Marketing Research

Consumers are connect in both internal and external information search.

Internal search engages the consumer identifying alternatives from his or her memory. For certain small involvement products it is extremely important that marketing programs achieve 'top of mind' awareness. For instance few people will search the Yellow Pages for fast food restaurants therefore the consumer must be able to retrieve one's restaurant from memory before it will be considered. For high participation products consumers are more likely to use an external search. Previous to buying a car for instance the consumer may ask friends opinions read reviews in Consumer Reports consult several web sites and visit several dealerships. Therefore firms that make products that are selected predominantly through external search should invest in having information available to the consumer in need-example through web sites, brochures or news coverage.

A compensatory decision engages the consumer trading off good and bad attributes of a product. For instance a car may perhaps have a low price and good gas mileage but slow acceleration. If the price is adequately inexpensive and gas efficient the consumer may then select it over a car with better acceleration that costs more and uses more gas.

Sometimes a decision will involve a non-compensatory strategy. For instance a parent may reject all soft drinks that contain artificial sweeteners. At this time other good features such as taste and low calories cannot overcome this one 'non-negotiable' attribute.

The quantity of effort a consumer puts into searching depends on a number of factors such as the market (how many competitors are there as well as how great are differences between brands expected to be?) product characteristics (how significant is this product? How difficult is the product? How clear are indications of quality?) Consumer characteristics (how involved is a consumer generally in analyzing product characteristics and making the best possible deal?) as well as situational characteristics (as previously discussed).

Posted Date: 7/31/2013 2:06:34 AM | Location : United States

Related Discussions:- Information search as well as decision making, Assignment Help, Ask Question on Information search as well as decision making, Get Answer, Expert's Help, Information search as well as decision making Discussions

Write discussion on Information search as well as decision making
Your posts are moderated
Related Questions
what are the duties and rights or obligations of the leasor and lessee and case studies to conflicts on either of the two and how they have been resolved

Managerial Report Prepare a report for Chris Lane. Your report should include, at a minimum, the following items: 1. A schedule that will enable each of the 18 couples to play ever

Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit

How do customers feel about service charges? and can you explain it by demographic characteristics?

Question: 1- I put an order to ExpertsMind and make a payment today. When will the writer of ExpertsMind complete and send back the complete assignment to me? 2- My school forbids

Question 1: "Marketing research ethics refers to taking an ethical and above-board approach to conducting marketing research that does no harm to the participant in the process

Question 1: "Marketing Research is a systematic and planned formal approach to the collection of marketing information." This implies that there is a formal marketing research

Prescribed Period: The amount representing the full export value of the goods exported shall be realised and be paid to the authorised dealer when it is due. The amount should be

Data Analysis Error : An in the case of data processing errors can occur on account of wrong analysis of data. Apart from simple mistakes summation division etc more complex errors

Regression line drawn as Y=C+1075x,when x was 2, and y was 239, given that y intercept was 11. calculate the residual