Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Marketing Management Expert

Consumers are engage in both internal as well as external information search. Internal search engages the consumer identifying alternatives from his or her memory. For certain low participation products it is very 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 previous to it will be considered. For high involvement products consumers are additional 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 must invest in having information available to the consumer in need-example through brochures and web sites or news coverage.

A compensatory decision engages the consumer 'trading off' good and bad attributes of a product. For illustration a car may have a low price and good gas mileage but measured 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 as well as uses more gas.

Infrequently 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 can't overcome this one 'non-negotiable' attribute.

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M9574687

Have any Question?


Related Questions in Marketing Management

Question 1price is the only element in the marketing mix

Question: 1. Price is the only element in the marketing mix that produces revenue all other elements represent costs. 2. How do price decisions affect the other three P's? Select a product that you regularly buy. 3. How ...

Question please refresh your knowledge of chapter 6

Question: Please refresh your knowledge of Chapter 6 (Consumer Behavior) before attempting the assignment. Read the case (titled: The Diet Battle) at the end of Chapter 6 (in Marketing by Grewal and Levy, 6thedition), an ...

Question find a company in your area that is known for its

Question: Find a company in your area that is known for its environmental and/or social responsibility. Set up an interview with a company representative. In the interview find out: 1. What the company representative bel ...

In what way might the construction of roads by government

In what way might the construction of roads by government authorities lead to negative externalities? [Hint: How far might one need to go to the nearest grocery store to one's home in Hong Kong, Manhattan, or Singapore, ...

Plan market research assignment -assessment event -

Plan Market Research Assignment - Assessment Event - Simulation: Fit Life You will complete a number of tasks in developing a comprehensive Market Research Plan. These tasks will be based on your role of a Market Researc ...

Question after watching this video -- we want to consider

Question: After watching this video -- we want to consider the shift in marketing from business to business. We have discussed direct marketing to target markets - but if we work for a organization whereby we market to o ...

Question write a 2-3 page double spaced narrative response

Question: Write a 2-3 page (double spaced) narrative response. Be sure to address every point within the prompt. Submit as DOC, DOCX, PDF, or RTF file attachments. Prompts: Recommended after Lecture 8 Find one commercial ...

Question answer the following1which stages of the consumer

Question: Answer the following: 1. Which stages of the consumer decision-making process are affected most by comparison shopping on mobile platforms? Explain. 2. Technology has drastically altered the consumer buying beh ...

Question people feel better when they think they are

Question: People feel better when they think they are getting a great bargain when they shop. Knowing this, some retailer's markup items above the traditional retail price and then offer a 60 percent discount. If they ha ...

Assessmentas a workplace project or as a simulated activity

Assessment As a workplace project (or as a simulated activity if not possible to do this in the workplace), produce a marketing communication for your organisation or for a client. This should be carried out from start t ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As