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Consumer Decision making

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3) Explain how each of the following factors might affect consumer search:

(a) Brand loyalty
(b) Store loyalty
(c) uncertainty about which brand best meets consumers needs
(d) the importance consumers place on paying a low price

5) A recent study has classified consumers into one of three segment based on the amount of search they did when making their purchase decisiions. For each segment the percentage buying your brand verus competitive brands was examined. The results are as follows:
Percentage Buying

Amount of Search Your brand Competitors Brand
Minimal 3 97
Moderate 9 91
Extensive 17 83

What implications doe these results carry for markteing strategy?

7) It is indicated that offering incentives is one way for a produt to gain consideration during consumer decision making . How else might a product try to enter teh consideration set?

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Explain how each of the following factors might affect consumer search

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3) Explain how each of the following factors might affect consumer search:

(a) Brand loyalty
Consumers who attach greater importance to a particular brand or a set of brands will restrict their search within the product range of those particular brand/brands. They will not look into any products of different brands even though the other available products are a better choice.

(b) Store loyalty
Consumers with a lyoatly for a particular store will not look into the products offered at other stores and will make their purchase decision with respect to the choices available at their desired store. Even though there might be better choices available elsewhere, they will not explore those choices.

(c) uncertainty about which brand best meets consumers ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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