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

Recent developments in export financing, RECENT DEVELOPMENTS IN EXPORT FINA...

RECENT DEVELOPMENTS IN EXPORT FINANCING: As stated earlier, offer of attractive credit terms is a crucial factor in winning export contracts. Hence, financial institutions are off

Major applications of consumer behaviour, Q. Show the Major applications of...

Q. Show the Major applications of consumer behaviour? Marketing strategy: The most noticeable is for marketing strategy or making better marketing campaigns. For instance by

Explain about freuds psychoanalytic theory, Q. Explain about Freuds psychoa...

Q. Explain about Freuds psychoanalytic theory? This theory offers the foundation for the study of motivational research which operates on the premise that human drives are main

Institutional framework , INSTITUTIONAL FRAMEWORK : Institutional framewor...

INSTITUTIONAL FRAMEWORK : Institutional framework for providing finance comprises Reserve Bank of India, Commercial Banks, Export Import Bank of India and Export Credit and Guaran

What are the numerous measures for reliability assessment, What are the num...

What are the numerous measures for reliability assessment of a scale? Answer Reliability in research relates to consistency of results over a period of time. A scale is ca

Explain internal psychological procedure, Q. Explain Internal psychological...

Q. Explain Internal psychological procedure? The relevant internal psychological procedure that is associated with information search is perception. Perception is defined like

MBA, PROCESS MARKETING INFORMATION SYSTEM.

PROCESS MARKETING INFORMATION SYSTEM.

Determining the prices and policy decisions, 1.  Your company manufactures ...

1.  Your company manufactures consumer products mostly in the pet products category. You have developed a new line of rather unique bird feeders for wild birds such as cardinals, f

Agency commission on exports, Agency Commission on Exports : Authorised de...

Agency Commission on Exports : Authorised dealers may allow payment of commission, either by remittance or by deduction from invoice value, on application submitted by the exporte

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