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

Explain exploratory marketing research, Question: The design of a speci...

Question: The design of a specific marketing research methodology depends on the objective of the research being undertaken. Bearing this in mind and using examples to illustra

Maslows need hierarchy theory, Q. Maslow's need hierarchy theory ? >>The...

Q. Maslow's need hierarchy theory ? >>The ultimate state in the hierarchy is hard to achieve. Certain requirements can be placed in different areas >>Of the hierarchy example

Marketing reasearch process, Marketing Reasearch Process: 1. specifyin...

Marketing Reasearch Process: 1. specifying research objectives: In this step of the research process researchers must first obtain answer to the question," what is the purpos

Sprite, what stage is sprite in the business life cycle?

what stage is sprite in the business life cycle?

Literature search procedure, The above table shows that a researcher has to...

The above table shows that a researcher has to review the various kinds of literature relating to the selected field of study. How can be identify the related materials? This resea

Jobbers, total jobbers in India ?

total jobbers in India ?

Manufacturers of plastic household items, Trans-European Plastics (TEP) is ...

Trans-European Plastics (TEP) is one of Europe's largest manufacturers of plastic household items. Its French factory makes a range of over 500 products that are sold to wholesaler

Marketing interface, mention and explain five measures that will make a dis...

mention and explain five measures that will make a displeased customer patronize the school canteen

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