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

Sports marketing firm, You are interested in purchasing a new minor league ...

You are interested in purchasing a new minor league baseball franchise. The franchise will be located in your area. To reduce the risk in your decision making, you have requested t

Linear regression, Regression line drawn as Y=C+1075x,when x was 2, and y w...

Regression line drawn as Y=C+1075x,when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Chocolate consumers feeling guilty for the wrong reasons, This brief case s...

This brief case study highlights the risks a company might face if it makes the wrong call in relation to its ethical marketing policies. The case study discusses the case of Cadbu

Case study, Managerial Report Prepare a report for Chris Lane. Your report ...

Managerial Report Prepare a report for Chris Lane. Your report should include, at a minimum, the following items: 1. A schedule that will enable each of the 18 couples to play ever

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

How to apply for assignment help tutor, I want to get job as assignment sol...

I want to get job as assignment solver, how to apply, Please let me know?

Frustration of contracts , FRUSTRATION OF CONTRACTS : There can be several...

FRUSTRATION OF CONTRACTS : There can be several factors beyond the control of the parties to a contract which makes the performance of contractual obligations impossible. Example

How can consumer behavior create diffusion of innovation, Q: How personal i...

Q: How personal influence of consumer behavior can create Diffusion of Innovation.? Ans: Products be likely to go through a life cycle. Primarily a product is introduced. S

What are the motivational conflicts, Q. What are the Motivational conflicts...

Q. What are the Motivational conflicts? Motivational conflicts: _ Positively valued goals means consumers are motivated to approach the goal and will seek out products tha

Organization of the research report, ORGANIZATION OF THE REPORT Once y...

ORGANIZATION OF THE REPORT Once you have selected a research problem, design the study to conduct it, deciding on the variables, methodology and the study population, you actu

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