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

Examples of measurable standards, Porter -O Grady (2001,p.9) makes the stat...

Porter -O Grady (2001,p.9) makes the statement that "too many health professionals have an irrational conviction that there is something so mystical about health care that it defie

Experimental error, An experiment aims at measuring the impact of one or mo...

An experiment aims at measuring the impact of one or more independent variables on a dependent variable. For example take the case of the impact of training on the performance of s

Unique selling proposition, Something unique that you have to tenders. Not ...

Something unique that you have to tenders. Not necessarily completely unique. You can appear unique by merely packaging your product or service in a unique way. For instance a lawy

Internal strengths-internal weaknesses & benefit, Consider the needs of you...

Consider the needs of your community and the world around you through the eyes of a social marketer. To this end, choose a social, environmental or health issue (e.g. recycling, sm

Compliance with laws-other provisions, Compliance with Laws: Every exporte...

Compliance with Laws: Every exporter or importer shall comply with the provisions of the Foreign Trade (Development and Regulation) Act, 1992. They will comply with the provisions

Describe the meaning of research, Describe the Meaning of Research Rese...

Describe the Meaning of Research Research in common man's language refers to "search for knowledge". Research is basically the process of finding solution to a problem after

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

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

Proactive interference, There are various reasons why retrieval can fail or...

There are various reasons why retrieval can fail or in less fancy terms how we come to forget. One is decay at this time information that is not accessed frequently essentially '

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