Post on 21-Jul-2016
description
Nature of Information Search
Internal Search
Search of long-term memory to determine if a satisfactory solution is known.
External Search
If a resolution is not reached through internal search, then the search process is focused on relevant external information.
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Types of Information Sought
Consumer decisions require information about:
• Appropriate evaluative criteria
• The existence of various alternatives
• Performance of each alternative on each evaluative criterion
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Sources of Information
• Memory of past searches, personal experiences, and low-involvement learning
• Personal sources, such as friends, family, and others. • Independent sources, such as magazines, consumer groups,
and government agencies • Marketing sources, such as sales personnel, websites, and
advertising • Experiential sources, such as inspection or product trial
Five primary sources of information available to consumers:
Sources of Information
There are numerous shopping services on the Internet that can: • search out the lowest prices for specific items • search out online retailers of specific merchandise • suggest specific brands based on your prior purchases and pre-
specified criteria These services use bots or shopping bots, which are software “robots” that do the shopping/searching for users.
Information Search on the Internet
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Sources of Information
Three major strategic issues marketers face regarding the Internet’s role in information search and decision making:
Information Search on the Internet
1. How can they drive their information to consumers?
2. How can they drive consumers to their information?
3. How (if at all) can online selling be utilized or integrated with existing channels ?
Sources of Information
Consumers need ongoing incentives to return such as: • product-related news features • user-related discussion forums • updates on new products
Website design is also critical. Ongoing and repeat traffic requires relevant and frequently updated content.
Driving Consumers to a Firm’s Information
Firms use various incentive techniques to encourage repeat traffic
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Amount of External Information Search
Various measures of external information search:
1. Number of stores visited
2. Number of alternatives considered
3. Number of personal sources used, and
4. Overall or combination measures
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Costs vs. Benefits of External Search
• Market Characteristics
• Product Characteristics
• Consumer Characteristics
• Situation Characteristics