Discuss internal and external information search and their role in different decision types
Summarize the types of information consumers search for
Describe the categories of decision alternatives relating to the evoked set
Discuss available information sources and the role of Internet and mobile search
Discuss the major cost-benefit factors driving the amount of external search
Summarize the marketing strategies based on information search patterns
The Nature of Information Search
Consumers continually recognize problems and opportunities.
Internal and external searches for information to solve these problems are ongoing processes.
Types of Information Sought
What solutions exist?
What evaluative criteria are needed?
What is the performance of each solution on each evaluative criterion?
Can a decision be made? If not, information search continues.
Types of Information Sought (Alternatives)
Awareness Set: Alternatives the consumer is aware of.
Unawareness Set: Alternatives the consumer does not know about.
Evoked Set: Alternatives given consideration.
Inert Set: Backup alternatives.
Inept Set: Avoided alternatives.
Specific Alternative Purchased: Alternatives considered but not purchased.
All potential alternatives (brands, products)
Sources of Information
Five primary sources of information available to consumers:
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.
Sources of Information (Categorized)
Internal Information:
Past searches
Personal experience
Low-involvement learning
External Information:
Actively acquired
Independent groups
Personal contacts
Marketer information
Experiential
Passively acquired
Internet as a Major Search Avenue
Online information is expected.
Online information boosts offline sales.
Online sources are viewed as valuable.
Online sources reduce salesperson’s role.
Information Search on the Internet
Economic considerations are a major motivator of online search.
Information overload is a challenge.
Comparison shopping sites use Bots or shopping bots to help consumers in their search and decision-making.
Strategic Issues for Marketers Regarding Internet Search
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?
Driving Information to Consumers
Banner ads
Permission-based e-mail
Social media
Driving Consumers to a Firm’s Information
Search Engine Optimization (SEO): Techniques to ensure a company's web pages are accessible to search engines and improving the chances they are found.
Offline Media such as print and TV.
Behavioral Targeting: Tracking consumer click patterns on a website and using that information to decide on banner ad placement.
Incentives for Repeat Website Traffic
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.