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

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

Port procedures, PORT PROCEDURES : Export cargoes can be brought into the ...

PORT PROCEDURES : Export cargoes can be brought into the port only after the ship has been all owned a berth and declared for loading. Some port authorities in India require the s

Objective-export credit insurance, Objective After studying this unit, ...

Objective After studying this unit, you should be able to: 1.  Explain the meaning of credit risk; 2.  Describe various types of policies issued by ECGC; 3.  Explain t

Export of gifts, Export of Gifts: Goods including edible items of value no...

Export of Gifts: Goods including edible items of value not exceeding Rs. 15.000 in a licensing year may be exported as a gift. However, items in the Negative List of Exports shall

Explain psychoanalytical model of consumer behaviour, Q. Explain Psychoanal...

Q. Explain Psychoanalytical model of consumer behaviour? This model is on the basis of work of psychologists who were concerned with personality. They were of the outlook that

How can the marketing organization raise the likelihood, Q. How can the mar...

Q. How can the marketing organization raise the likelihood? At this time the consumer compares the brands as well as products that are in their evoked set. How can the marketin

Bill rate- exchange rate, Bill Rate : Bill rate may also be either bill ...

Bill Rate : Bill rate may also be either bill buying rate or bill selling rate. Let us discuss them in detail. i) Bill Buying Rate: This rate is applied when a foreign bill is p

Export of spares, Export of Spares: Warranty spares, whether indigenous or...

Export of Spares: Warranty spares, whether indigenous or imported, of plant, equipment, machinery, automobiles or any other goods may be exported upto 7.5% of the FOB value of the

MBA, PROCESS MARKETING INFORMATION SYSTEM.

PROCESS MARKETING INFORMATION SYSTEM.

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