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Marketing 334 Consumer Behavior

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Presentation on theme: "Marketing 334 Consumer Behavior"— Presentation transcript:

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

2 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.

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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