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

Methods of dispute settlement , METHODS OF DISPUTE SETTLEMENT : There are ...

METHODS OF DISPUTE SETTLEMENT : There are many reasons due to which a dispute may arise between an exporter and an I importer. A common cause for dispute relates to quality. Und

Export trade control , Export Trade Control : Exports may be made freely e...

Export Trade Control : Exports may be made freely except to the extent they are regulated by the provisions of Import-Export policy, 1997-2002 or any other law for the time being

Types of non sampling errors, Defective Problem Definition: Problem on whic...

Defective Problem Definition: Problem on which research is to be undertaken should be precisely defined. For example a study on unemployment must be clear as to the concept o

Queuing analysis, RatLand is a large family theme park located in central T...

RatLand is a large family theme park located in central Texas.  Over the years a visit to Ratland has been institutionalized as a prime "have to" experience for children growing up

What role is played by memory in consumer behavior, Q. What role is played ...

Q. What role is played by memory in consumer behavior ? Learning involves a change in the content or else organization of long term memory and/or behaviour. The initial part of

How consumer behaviour is effected by attitude, Q. How consumer behaviour i...

Q. How consumer behaviour is effected by attitude and attitude change? Attitudes Introduction . Consumer attitudes are a compound of a consumer's (1) beliefs about (2) fe

Sampling errors, Quite frequently marketing studies are based on sample of ...

Quite frequently marketing studies are based on sample of people or products or stores. The results emerging from such studies are then generalized that is applied to the entire po

Export under claim of rebate under rule 12, Export Under Claim of Rebate Un...

Export Under Claim of Rebate Under Rule 12(i) (A) Under the Central Excise Rule 12(i) (A), rebate of duty paid on export of duty paid goods shall be granted. The rule permits t

Particular loss , Particular Loss : There are two types of partial losse...

Particular Loss : There are two types of partial losses as explained below: General Average: Sometimes a ship owner either sacrifices some cargo the ship is carriage or incur

Constructive total loss ctl, Constructive Total Loss (CTL) : Unlike the ...

Constructive Total Loss (CTL) : Unlike the actual total loss, CTL is not a physical loss and is not absolute. CTL may be defined as a total loss when the cost of saving, repai

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