Information search and decision making, Marketing Research

Assignment Help:

Consumers are engage in both internal as well as external information search. Internal search engages the consumer identifying alternatives from his or her memory. For certain low participation products it is very 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 previous to it will be considered. For high involvement products consumers are additional 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 must invest in having information available to the consumer in need-example through brochures and web sites or news coverage.

A compensatory decision engages the consumer 'trading off' good and bad attributes of a product. For illustration a car may have a low price and good gas mileage but measured 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 as well as uses more gas.

Infrequently 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 can't overcome this one 'non-negotiable' attribute.


Related Discussions:- Information search and decision making

Indifference curves, Indifference Curves: The Consumer Tastes Suppose w...

Indifference Curves: The Consumer Tastes Suppose we ask the consumer what his preferences are for alternative bundles of two goods, say food and clothing. Certain combination o

International marketing, Define international marketing and furnish its fea...

Define international marketing and furnish its features.

Procedure for making a claim, PROCEDURE FOR MAKING A CLAIM : A claim will ...

PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f

Distinction between domestic sales contract, Distinction between Domest...

Distinction between Domestic Sales Contract and Export Sales Contract : A major point of distinction between a domestic and export contract lies in identifying the prope

Describe important characteristics of culture, Q. Describe important charac...

Q. Describe important characteristics of Culture? (1) Culture is comprehensive . This signifies that all parts must fit together in some logical fashion. For instance bowing a

Perception Mapping, What is perception mapping? Does it differ for each pro...

What is perception mapping? Does it differ for each product category?

reasons for the drop in sales and market share, Brand analysis of Reebok ...

Brand analysis of Reebok In the research paper, the problems faced by Reebok which are associated to 4 different marketing mixes are analyzed and the reasons behind these prob

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

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