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

Kinds of perils , KINDS OF PERILS : The cargo insurance policy can be as w...

KINDS OF PERILS : The cargo insurance policy can be as wide as to cover all possible kinds of risk and losses to which cargo could be exposed in transit. The event which lead to l

Critical success factors, Develop vision, mission, objectives and measures ...

Develop vision, mission, objectives and measures of these (a)  In layman's language define the terms vision and mission statement and values and how the effectiveness of these c

Designing of two way cross-over , Designing of Two way cross-over 3500 Hz ...

Designing of Two way cross-over 3500 Hz A two way is cross is designed in a net pattern with passive materials that separate the frequencies in a smaller region. A cross over s

Legal framework, Legal Framework : Section 50 of the Indian Customs Act re...

Legal Framework : Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit supporting documents to enable the customs autho

Role of culture in international marketing, Problem 1 Define internatio...

Problem 1 Define international marketing. Explain the need and significance of international marketing. Meaning Need Significance   Problem 2 Why shou

What are the different needs and motives of the consumer, Q: What are the d...

Q: What are the different needs and motives of the consumer according to which a consumer buy the product? Ans: Needs : Requires can be explained in the following manner:

Describe an e-marketing strategy, Question: You are a newly installed m...

Question: You are a newly installed marketing manager in a company selling products in the business-to-business sector in Mauritius. Currently, the company only has a limited

Researchers errors, How can population definition error be minimised ?

How can population definition error be minimised ?

Evaluating awareness and potential for IMC in b2b in pune, what will be the...

what will be the scope for the above study for imc in b2b market domain and SWOT analysis,future growth and prospects of the study

Remittances connected with exports, Remittances Connected with Exports : E...

Remittances Connected with Exports : Exporters are permitted to retain upto 25% (50% in the case of EOUs located in EPZI Software Technology Parks/Electronics Hardware Technology

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