Information search and decision making, Marketing Research

Assignment Help:

Consumers are engage in both internal as well as external information search. Internal search engages the consumer identifying alternatives from his or her memory. For certain low participation products it is very 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 previous to it will be considered. For high involvement products consumers are additional 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 must invest in having information available to the consumer in need-example through brochures and web sites or news coverage.

A compensatory decision engages the consumer 'trading off' good and bad attributes of a product. For illustration a car may have a low price and good gas mileage but measured 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 as well as uses more gas.

Infrequently 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 can't overcome this one 'non-negotiable' attribute.


Related Discussions:- Information search and decision making

Denomination of export contracts, Denomination of Export Contracts: All ex...

Denomination of Export Contracts: All export contracts and invoices shall be denominated in freely convertible currency and export proceeds shall be realised in freely convertible

Actual total loss atl, Actual Total Loss (ATL): An actual total loss may...

Actual Total Loss (ATL): An actual total loss may occur in three ways. Firstly when the, insured cargo is physically destroyed when fire in the hold of the ship destroys complet

Nature of cargo insurance policy, NATURE OF CARGO INSURANCE POLICY ...

NATURE OF CARGO INSURANCE POLICY A marine or cargo insurance policy has an international character and, therefore, a policy taken in one country is acceptable in other coun

Preliminary research, Preliminary Research: Preliminary research is necessa...

Preliminary Research: Preliminary research is necessary to understand the problems environment. It involves. 1. Discovering and crystallizing the problem. 2. Describing the r

Why export? a firm''s perspective, WHY EXPORT? A FIRM'S PERSPECTIVE : Th...

WHY EXPORT? A FIRM'S PERSPECTIVE : There are a number of factors which may motivate a firm to export. Let us discuss them in detail. i) Relative profitability: The price re

Recent developments in export financing, RECENT DEVELOPMENTS IN EXPORT FINA...

RECENT DEVELOPMENTS IN EXPORT FINANCING: As stated earlier, offer of attractive credit terms is a crucial factor in winning export contracts. Hence, financial institutions are off

Principles of marketing, briefly outline the differencies between marketing...

briefly outline the differencies between marketing evolution and marketing philosophies

State advantages and disadvantages of quota sampling, State advantages and ...

State advantages and disadvantages of Quota sampling These quotas are assigned in a way that there remains resemblance between quotas and populations with respect to characteri

Duty free licence, Duty Free Licence: Import of raw materials, intermedi...

Duty Free Licence: Import of raw materials, intermediates, components, consumables, parts, accessories and packing materials may be permitted against a Duty Free Licence. Duty F

Government reports, Government publishes administrative reports of various ...

Government publishes administrative reports of various departments reports of commissions and committees India A Reference Annual etc, The sources of locating government publica

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd