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

Stages in organisational buying, Q. Areas of operation in industrial buying...

Q. Areas of operation in industrial buying? The initiation stage: This is a phase in which a problem or a need is recognised by the organisation. For instance as a result of

Statutory basis, STATUTORY BASIS : Exchange control was introduced in Indi...

STATUTORY BASIS : Exchange control was introduced in India with the outbreak of second World War on September 3, 1939. This was done by virtual of the emergency powers derived u

Determine the important factors of marketing research, Determine the import...

Determine the important factors of marketing research? Marketing Research involves following: - i) Product Research: - Assessment of suitability of goods with respect to

Introduction-export sales contract, Introduction: Exports and imports are ...

Introduction: Exports and imports are carried out by traders who are residents of different countries. Goods have to cross national frontiers and several types of physical and fin

Marketing Research Powerpoint presentation, Hi, I need an assignment to be ...

Hi, I need an assignment to be completed by Monday, it will require no more than 30 powerpoint slides on a case study and data, using the t-test theory for marketing research. Can

Marketing plan, is control and strengh is same in order to do the marketing...

is control and strengh is same in order to do the marketing plan ?.

Bibliographies of libraries, The libraries of some universities and other ...

The libraries of some universities and other educational institution bring out bibliographies on selected subjects. Lists of Books and Publishers Bulletins: a. All leading

Market research for exploring market opportunities, XYZ mini-mart is a well...

XYZ mini-mart is a well-established retail chain in Singapore or your country of your choice, selling grocery and household goods. Currently, it has 20 outlets and mostly they are

Information search as well as decision making, Consumers are connect in bot...

Consumers are connect in both internal and external information search. Internal search engages the consumer identifying alternatives from his or her memory. For certain s

Miss, I have to do a marketing research of a customize cellphones company, ...

I have to do a marketing research of a customize cellphones company, for my marketing class, and I don''t have any idea of how to start. Could you help me.

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