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

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

Explain stratified sampling in details, Explain stratified sampling in deta...

Explain stratified sampling in details. Answer Stratified sampling is a probability sampling technique that is distinguished by two-step procedure it involves. In first st

Measurement error, This is caused when the information gathered is differen...

This is caused when the information gathered is different from the information sought. For example respondents are asked to indicate whether they own a color television set,. Some

Pre-shipment credit in foreign currency, Pre-shipment Credit in Foreign Cur...

Pre-shipment Credit in Foreign Currency : This is an additional window to rupee packing credit scheme. This credit is available to cover both the domestic and imported inputs of t

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

briefly outline the differencies between marketing evolution and marketing philosophies

Explain in brief about quota sampling, Elucidate quota sampling Quota ...

Elucidate quota sampling Quota sampling restricts the selection of sample by controlling the number of respondents by one or more criterion. Restriction generally includes quo

Recoverable expenses, Recoverable Expenses: An insurance company will pay ...

Recoverable Expenses: An insurance company will pay expenses incurred by the insured for recovering loss for preventing it to the cargo. This is, however, subject to two condition

Explain about operant conditioning, Q. Explain about Operant conditioning? ...

Q. Explain about Operant conditioning? Instrumental or else operant conditioning involves a different series of events and this what we usually think of as learning. The common

Why marketer need to understand customer evaluation process, Q. Why must a ...

Q. Why must a marketer need to understand the customer evaluation process? The answer lies in the type of information that the marketing team needs to provide customers in diff

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