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

Resauch, dmkfnhdjkhnfjihdsimfr hejydsuahde8sejdy

dmkfnhdjkhnfjihdsimfr hejydsuahde8sejdy

What are the steps involved in questionnaire building, What are the steps i...

What are the steps involved in questionnaire building? Answer When there is a debate with regard to questionnaire building process, there is consensus among research commu

Objectives-management of exchange risks, OBJECTIVES After studying this...

OBJECTIVES After studying this unit, you should be able to: 1.  Explain the meaning of exchange rate; 2.  Describe various types of exchange risk; 3.  Discuss the meas

Foreign exchange-exchange control, FOREIGN EXCHANGE : Foreign exchange, as...

FOREIGN EXCHANGE : Foreign exchange, as defined under Foreign Exchange Regulation Act. 1973 is foreign currency and includes: i) All deposits credit and balance payable in fore

Write Examination Format, Question: 1- I put an order to ExpertsMind and m...

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

Marketing, The credit bank which offers a full range of financial services ...

The credit bank which offers a full range of financial services to the costumers had recently carried out a segmentation exercise which defined four age based segment of potential

Analyze, Identify three or more of the secondary sources of information ava...

Identify three or more of the secondary sources of information available to REI.

Measurement problems in demands for resources, Q. Measurement problems in d...

Q. Measurement problems in demands for resources? Social influence- A student believes that smoking is really cool but since his friends think it's disgusting he doesn't smok

Define post-purchase evaluation, Q. Define Post-purchase evaluation? Po...

Q. Define Post-purchase evaluation? Post-purchase evaluation - Cognitive Dissonance The final phase is the post-purchase estimation of the decision. It is general for custom

Management approach to entrepreneurial theory, The management approach woul...

The management approach would advocate the position that entrepreneurs can be made. Discuss the management approach to entrepreneurial theory by making reference to the key researc

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