Information search as well as decision making, Marketing Research

Assignment Help:

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).


Related Discussions:- Information search as well as decision making

Sales tax exemption , Sales Tax Exemption : Purchase of goods meant for ex...

Sales Tax Exemption : Purchase of goods meant for exports are exempted from sales tax including Central Sales Tax. However, the purchaser of goods has to be a registered dealer fo

Mutual lending, just give an example of firm write about socially responsib...

just give an example of firm write about socially responsible indicating brief desciption?

Prepare a note for declining sales of your products, Q. Prepare a Note for ...

Q. Prepare a Note for information of the Board of Directors on the reasons for declining sales of your Company's products for the quarter ending March 31, 2003? Ans. A p

Types of losses , TYPES OF LOSSES: Let us now discuss the extent of loss...

TYPES OF LOSSES: Let us now discuss the extent of loss coverage provided in the insurance policy. For this purpose, you should first understand the mean of the term of "Loss".

Introduction-procedures for claiming export incentives, INTRODUCTION : You...

INTRODUCTION : You have learnt about the infrastructure and various export incentives provided by Government of India. These incentives are instrumental for the export promotion i

Marketing plan, is control and strengh is same in order to do the marketing...

is control and strengh is same in order to do the marketing plan ?.

GE MATRIX FOR AUTO MOBILE INDUSTRIES, SIR IN MY BUSINESS PROJECT WE HAVE NE...

SIR IN MY BUSINESS PROJECT WE HAVE NEED TO WEATHER ON WHICH WAY WE ABLE TO DEVELOP THE GE MATRIX FOR ANY AUTO MOBILE INDUSTRIES?

Marketing strategy, from domestic products to skin care product. what will ...

from domestic products to skin care product. what will be the marketing plan

Forward contracts-foreign exchange risks, Forward Contracts : As you have ...

Forward Contracts : As you have learnt that entering into forward contract is one of the important method of dealing with the foreign exchange risk. Let us also remind you that in

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