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Marketing 334 Consumer Behavior

Marketing 334 Consumer Behavior. Chapter 15 Information Search From: Consumer Behavior , 10 th ed. By Hawkins, Mothersbaugh and Best. 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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Marketing 334 Consumer Behavior

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  1. Marketing 334Consumer Behavior Chapter 15 Information Search From: Consumer Behavior , 10th ed. By Hawkins, Mothersbaugh and Best

  2. External Search If a resolution is not reached through internal search, then the search process is focused on relevant external information. Internal Search Search of long-term memory to determine if a satisfactory solution is known. Nature of Information Search

  3. 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 15-3

  4. Types of Information Sought Information Search

  5. Types of Information Sought

  6. 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: 15-6

  7. Sources of Information 15-7

  8. Sources of Information Information Search on the Internet • 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.

  9. Sources of Information Information Search on the Internet Three major strategic issues marketers face regarding the Internet’s role in information search and decision making: • How can they drive their information to consumers? • How can they drive consumers to their information? • How (if at all) can online selling be utilized or integrated with existing channels ? 15-9

  10. Sources of Information Driving Consumers to a Firm’s Information Website design is also critical. Ongoing and repeat traffic requires relevant and frequently updated content. • Consumers need ongoing incentives to return such as: • product-related news features • user-related discussion forums • updates on new products Firms use various incentive techniques to encourage repeat traffic

  11. Amount of External Information Search Various measures of external information search: Number of stores visited Number of alternatives considered Number of personal sources used, and Overall or combination measures 15-11

  12. Costs vs. Benefits of External Search • Market Characteristics • Product Characteristics • Consumer Characteristics • Situation Characteristics 15-12

  13. Marketing Strategies Based on Information Search Patterns Six marketing strategies based on search patterns: Maintenance Strategy Disrupt Strategy Capture Strategy Intercept Strategy Preference Strategy Acceptance Strategy 15-13

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